Sofinnova Partners raises €48m

The European venture capital firm closes specialised life sciences fund.

Sofinnova Partners has announced the launch of Sofinnova MD Start III at €48 million, closing above the fund’s initial target of €40 million. The firm’s latest medtech acceleration fund is the third of the MD Start series but the first to operate as a fund rather than an independent company. The vehicle will invest in new therapeutic medical devices for patients in need.

MD Start III is backed by BPI France, Medtronic, LivaNova, the European Investment Fund, and Baxter Healthcare Corporation, as well as several medtech entrepreneurs.