Accelmed said today that it raised $100 million for its second healthcare-focused venture capital fund, Accelmed Ventures II.
The Israeli VC shop said it plans to use its latest fund to back Israeli and global pre-revenue medical device and digital health startups, managed by Accelmed partners Dr. Irit Yaniv and Amir Blat. Accelmed founder & managing partner Dr. Uri Geiger will head the investment committee for the new fund, which received a commitment from anchor investor Consensus Business Group.
“In recent years there is increased global demand for breakthrough technological healthcare solutions, due to increasing expenditure, estimated at trillions of dollars in the U.S. alone, pronounced population aging and an increased prevalence of cancer and chronic diseases such as obesity, diabetes and heart disease,” Yaniv said in prepared remarks. “In the decade since its inception, Accelmed transformed into a dominant player in its ability to identify, develop and commercialize groundbreaking technologies and solutions in the medical device space, due to the knowledge, expertise and varied experience of its managing team in addition to its network of leading players in the industry. The deals which we have recently reported attest to this, and to the significant need in expanding our activity to a new VC fund, which will address the current lack of finance in medical devices in particular and in digital health, as well as the increased interest of medical device giants in acquiring novel solutions in advanced development stages, nearing regulatory approval and commercialization. We are already in the advanced stages of evaluating investments in several companies.”
“Accelmed Ventures II’s investment strategy in medical devices will focus on companies in advanced clinical trials, nearing FDA approval and after first-in-human trials,” added Blatt. “In digital health, the fund will focus on companies in initial commercialization stages in the US, be it with hospitals or insurers. Aligned with the Group’s investment strategy, we will continue to act as dominant investors, including leading investment rounds ourselves or alongside other Israeli and global funds in the healthtech field, with involvement in the companies’ boards of directors, in order to lead them towards achieving their development and commercialization goals. The average investment in a company is planned to be approximately $8-10 million per company, including follow-up investments.”