7 European VCs Investing in MedTech

According to MedTech Europe, the European medtech sector was worth around €170 billion in 2024.

When it comes to the countries leading the charge, the biggest markets on the continent are Germany, France, The UK, Italy and Spain, which make up a combined 26.4% of the world’s global medtech market, just slightly behind the US.

It’s no surprise then, that so many European VCs are keen to get in on the action.

 

What Does MedTech Mean?

 

Medtech, or medical technology, is a word used to describe the devices and software that are designed to diagnose, treat and manage ongoing health conditions.

This could be anything from new hearing devices to scanners, treatments, robotics or even AI-based diagnostics.

Unlike healthtech, which is a wider term used to also encompass preventative treatment, medtech focuses on the how to cure diseases using technology.

As a general sector, medtech has come a long way in the past few years – helping people around the world access more accurate, faster and cheaper healthcare.

So, if you’re a medtech startup looking for funding you might be wondering: which VCs invest in this sector? Let’s take a look…

 

MTIP

 

 

Self-described as ‘The European healthcare software investor’, MTIP invests in high-growth, profitable healthcare software companies – including those in medtech.

In particular, they focus on SaaS B2B companies that have recurring revenue models. Their portfolio companies include startups like Koa Health, Intelligencia AI, Mediktor and Apricity.

 

 

Panakès

 

 

Panakès is a venture capital fund that invests in life sciences companies that help provide a better life to people all over the world.

They invest in early-stage startups and SMEs across Europe and Israel, providing both capital and expertise in the medical sciences industry.

With a large portfolio that spans everything from new devices to cellular treatments and more, the company is backing some of the most innovative medtech companies across Europe.

 

Verve Ventures

 

 

Verve Ventures is a European Deep Tech venture capital investor.

Having invested in over 150 science and tech startups across Europe, Verve Ventures look for companies innovating in Energy, Computing and Health and Bio.

 

Sofinnova Partners

 

 

Sofinnova Partners focuses on life science investments, spanning both seed and later stage ventures. The fund focuses specifically on healthcare and sustainability, as well as acting as a founding investor in early-stage biopharma and medtech start-ups that are creating new therapeutic technologies.

Alongside the fund, Sofinnova also has their own in-house medtech accelerator, allowing them to help grow and advise companies strategically from the start.

 

NLC

 

 

NLC have a number of different funds, designed to support a variety of sectors.

Their NLC Health Impact Fund is their latest and largest fund.

With a focus on Europe and The US, it is set to use the fund to invest €33.4M in over 60 health impact companies.

 

Nina Capital

 

 

Nina Capital is a venture capital firm that invests in the intersection of healthcare and technology. Whilst they don’t invest in drugs or vaccines, they do focus on European, US, Israeli, Canadian and Australian companies that create specialise health tech products.

With ticket sizes from €200k to €1.5M, Nina Capital is backing founders making a real impact in healthcare.

 

SHS Capital

 

 

SHS Capital is a fund investing in fast-growing companies on a mission to become European healthcare champions. One of SHS’s key selling points is that all portfolio companies get access to their network, which they have built up over 30 years in the sector.

With over 70 investments to date and ticket sizes over 10M, they are helping back companies driving the future of European healthcare.