Healthcare investor Endeavour Vision said today it it will shift its focus to medtech after raising $275 million (€250 million) in committed capital for its Endeavour Medtech Growth LP fund.
The firm said the fund was largely oversubscribed and reached its hard cap to close well above its $168.3 million (€150 million) target, saying the fund is the largest of its kind dedicated to medtech in Europe.
“The medtech sector is evolving rapidly and presents very clear opportunities as we see life sciences and information technology converging in an incredible fashion. This successful fund raising is a strong endorsement of the team’s solid track record and capabilities, as well as its strategy,” Endeavour Vision managing partner Bernard Vogel said in a press release.
The company said it is targeting “high potential” European and U.S. companies in the med device and digital health sectors, with a focus on those that have already gained regulatory approval and are beginning to see commercial traction. Endeavour vision said typical allocations from the fund will be between $11 and $22 million (€10-€20 million).
“Endeavour features a unique team with unrivalled experience globally, which brings tremendous added value to innovative medtech companies. The fund is targeting highly differentiated innovations that have the potential to drastically change the standard of care for millions of patients, with a commitment to help those technologies become the most successful high-growth companies in the world,” Endeavour Vision prez Damien Tappy said in a prepared statement.
The fund has already closed 4 investments, including uterine fibroid treatment company Gynesonics, ReShape Medical, and 2 other unnamed companies.
“With the combination of recent major advances in both healthcare and digital technology information, medicine will experience unprecedented changes that will revolutionize the current healthcare paradigm. Thanks to our long and successful experience in technology and life sciences, we are uniquely positioned to select the right opportunities in this fast growing environment,” Endeavour Vision managing partner Sven Lingjaerde said in prepared remarks.
