Sofinnova Partners has closed its namesake MD Start IV fund at €82m ($93.3m), with proceeds primed to fuel the European VC’s ongoing medtech company-creation strategy across Europe and the US.
Proceeds from the oversubscribed fund will be used to launch six to eight new medtech companies over the next five years, supporting them from inception through key clinical and operational milestones, providing founders with both capital and hands-on support, Sofinnova stated.
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Sofinnova’s chairman and managing partner, Antoine Papiernik, commented: “Sofinnova MD Start is one of the few strategies in Europe focused on creating medtech companies from the ground up. What makes the model distinctive is the active role our team plays in building and supporting every company from day one.
“This latest fund will allow us to scale that approach and remain a key part of Sofinnova’s platform across the life sciences value chain.”
Sofinnova’s MD Start funds are designed to support companies’ that address significant unmet needs in the healthcare space. The close of MD Start IV follows the close of Sofinnova’s previous €63m fund, MD Start III, in May 2021. The previous fund invested across six companies that have since raised a combined total of over €140m in follow-on financing.
Some observers view deal-making activity in the medtech space in 2026 to have fallen short of expectations. Speaking with Medical Device Network in April, John Babitt, EY’s global medtech leader, highlighted that deal-making had been “judicious”, with fewer deals being completed but higher valuations overall.
Companies supported by the previous fund include BrightHeart, which has since received US Food and Drug Administration (FDA) clearance and a European CE mark for its prenatal ultrasound monitoring software, Moon Surgical, and CorWave.
Other companies supported by Sofinnova’s earlier funds include Limflow, which was later acquired by Inari Medical for up to $415m, and PreCardia, which was subsequently acquired by Johnson and Johnson’s (J&J) Abiomed.
Aside from its MD Start fund lineup, Sofinnova has a range of funds designed to support the broader healthcare and life sciences industry, including Sofinnova Capital and a digital medicine-focused fund that was established in 2023.
In March 2025, Sofinnova announced that it had raised €1.2bn within the last year, bringing its total assets under management to over €4bn.
Commenting on the latest fund’s close, Anne Osdoit, partner at Sofinnova, said: “With Sofinnova MD Start IV, we look forward to continuing to work closely with engineers, clinicians, and scientists to advance their transformative medical technologies from the lab to the clinic.”
