Best Healthcare Venture Capital Firms

Benjamin Debonneville
Founder & CEO
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The health tech industry is booming, securing its seat as the fifth titan in VC investments. And why not? From smart wearables to AI-driven diagnostics, technology's grasp over healthcare is tightening, revolutionizing our very approach.

Yet, here's the catch: for those brilliant minds aiming to make waves in this sector, it's not just about the innovation, but also about securing the right backers.

Drowning in a sea of venture capitalists eager to tap into healthcare's potential? Wondering which VC giants truly understand the pulse of health tech and med-tech?

Here is our brief guide for the top picks in the venture capital domain.

Top 15 Healthcare VC Firms

Exploring the healthcare VC world, certain names shine brighter than the rest. Wondering who's leading the pack in 2023?

Here's our curated list of the top 15 players active out there in the market:

1. Abundant Venture Partners

Born and bred in Chicago, this venture powerhouse is more than just an investor. With a portfolio boasting 28 companies, including household names like HealthFinch and PatientWisdom, Abundant Venture Partners is deeply rooted in the health tech sphere.

Their operational finesse combined with decades of healthcare and technology expertise make them stand out.

What's more? They're not just in it for profit; their core revolves around positive change and shared success.

By prioritizing people first, they've been able to connect with trusted partners and accelerate growth in an industry that never stops evolving.

Best Suited Startups:

  • Early-Stage Visionaries: Startups at the dawn of their journey, brimming with transformative ideas for human wellness, performance, and engagement.
  • Service-Driven Innovators: Healthcare-focused companies are keen on offering exemplary services while upholding shared values of positive impact and growth.
  • Collaborative Spirits: Startups aiming to redefine healthcare systems, emphasizing mutual growth, profitability, and innovation in a dynamic industry landscape.

2. RA Capital

From the heart of Boston emerges a titan in the healthcare and life sciences sectors. RA Capital Management, with a whopping $2B fund size, is laser-focused on both public and private healthcare companies.

Since its inception in 2001, RA Capital has meticulously sculpted a portfolio that speaks volumes about its acumen, featuring monumental exits like Bristol Myers Squibb and FORMA Therapeutics.

Their unique blend of data-driven insights, extensive industry expertise, and a flexible funding strategy ensures that groundbreaking healthcare innovations transition from concept to reality.

Their in-house think tank, TechAtlas, further seals their commitment to staying at the forefront of health tech evolution.

Best Suited Startups:

  • Trailblazing Biotech Startups: Companies that harness cutting-edge biotechnologies with the ambition to transform healthcare paradigms.
  • Data-Driven Life Science Ventures: Startups with a solid grounding in scientific data, ready to disrupt conventional life sciences with innovation.
  • Early to Mid-Stage Pioneers: Enterprises that are anywhere from the seed phase to Series B, seeking a partner that offers more than just capital.

3. Krillion Ventures

Krillion Ventures, established in 2014, this Miami-first fund is on the hunt for non-conformists: the brave, the passionate, the “one in a krillion”. While their heart belongs to Miami, their vision transcends boundaries.

With a penchant for tech-driven solutions in HealthTech, they've magnified their prowess, empowering startups to rewrite healthcare narratives.

Their portfolio boasts over 20 success stories, transforming ideas into innovation. With up to $1M ready for seed and Series A rounds, they're not just funding, they’re fostering futures in healthcare.

Best Suited Startups:

  • Dynamic HealthTech Pioneers: Startups leveraging tech to resolve healthcare challenges, redefining patient experience and care.
  • Early-Stage Game Changers: Ventures with a solid proof of concept, thirsty for capital to expedite their growth journey.
  • Miami-Enthusiasts: Companies preferably in South Florida, or those willing to embrace the Miami magic and possibly set roots.

4. Healthy Ventures

Pioneering the frontier of health tech, Healthy Ventures dedicates itself to spotting and nurturing the diamonds in the rough.

They don't just invest; they immerse themselves, leveraging a vigorous understanding of healthcare, keen Go-to-Market strategies, and a robust network.

With an investment range of $1-3 million, they’re big believers in the power of the right team. Their mission? To ensure that healthcare solutions aren’t just crafted, but strategically sold and scaled.

By focusing on overlooked opportunities, they’re bridging the gap between creation and commercialization in health tech.

Best Suited Startups:

  • Health Tech Innovators: Ventures at the cusp of health and technology, striving to reshape patient care and experience.
  • Scale-Ready Solutions: Companies with products ready to penetrate the healthcare market, backed by both technical and commercial robustness.
  • Adaptable Teams: Early-stage ventures with flexible teams that can pivot as ideas and markets evolve, prioritizing growth.

5. SV Health Investors

With an eye for innovation and a hand in transformative treatments, SV Health Investors boasts a legacy spanning 28 years.

Hailing from Boston and boasting a presence in the UK, they've channeled a whopping $3.7B into healthcare game-changers.

Their expertise? Everything from biotech, medtech, and dementia to healthcare growth.

With 75 IPOs and M&As under their belt, their investments aren't just about capital; they're about vision, driving groundbreaking healthcare solutions for tomorrow.

Best Suited Startups:

  • Diverse Biotech Pioneers: Ventures focused on cutting-edge biotech solutions, always pushing boundaries in treatment innovations.
  • Healthcare Growth Trailblazers: Startups harnessing digital health and healthcare services, ready for growth-equity opportunities.
  • Early to Mid-stage Medtech: From nascent-stage MedTech solutions to those poised for early commercialization, SV is your strategic partner.

6. HealthTech Capital

Since 2010, HealthTech Capital has been more than just money - it’s money combined with mentorship and an open door to the corporate world.

This Silicon Valley-based powerhouse, founded by industry pioneers, has spurred HealthTech startups with over $1 billion in follow-on capital.

By intersecting healthcare with technology and mobility, they’ve paved a unique path, creating an innovative ecosystem of clinical providers, venture firms, and strategic industry players, all centered on revolutionizing healthcare.

Best Suited Startups:

  • Digital Health Innovators: Those at the cusp of digital health, fusing tech with healthcare to create transformative solutions.
  • Capital-Efficient Pioneers: Startups eyeing seed and series A rounds, aiming to elevate healthcare while trimming costs.
  • Collaboration Seekers: Ventures looking beyond funds, valuing strategic advice, industry ties, and hands-on mentorship for expansive growth.

7. Rock Health

Since its inception in 2010, San Francisco-based Rock Health has stood as a beacon of transformation in healthcare.

With a dedication to revolutionizing healthcare through technology, they've injected their expertise into 106 remarkable startups, directing 74.5% of their funds towards health tech.

Acting as more than just investors, Rock Health bridges the gap between raw innovation and major corporations, offering both funding and invaluable industry insights.

Their dual role of investor and advisor, coupled with investments spanning from $500k to $5m, solidifies their commitment to nurturing a better, digital-first healthcare future for all.

Best Suited Startups:

  • Digital Health Pioneers: Startups employing technology to redefine healthcare paradigms and improve patient outcomes.
  • Early-stage Innovators: Those at the Seed to Series A phase, hungry for both capital and strategic guidance.
  • Software-Driven Solutions: Ventures focusing on software and data-driven models, steering clear of services, drugs, or standalone medical devices.

8. MPM Capital

In a journey spanning over 30 years, MPM Capital has been at the forefront of biotech investing, with a striking record of 56 FDA-approved drugs.

Proudly managing a hefty fund of $3.9B, they’ve carved a niche in oncology innovations, translating groundbreaking research into transformative therapies.

Whether it's the founding of 39 companies since 2010 or their deep involvement from seed to Series B stages, MPM isn't just an investor—it's a creator, passionately committed to revolutionizing patient outcomes through scientific strides.

Think your healthcare startup fits the bill? MPM Capital might just be your next partner in transformative healthcare.

Best Suited Startups

  • Early-Stage Trailblazers: Startups focused on innovative therapeutic technologies, particularly in oncology.
  • Science-First Visionaries: Enterprises translating cutting-edge scientific research into promising clinical outcomes.
  • Disruptors Seeking Expertise: Companies that can benefit from deep domain expertise in R&D, clinical strategy, and commercialization.

9. Chrysalis Ventures

Rooted in Louisville, KY, Chrysalis Ventures stands as a beacon for technological transformation in healthcare.

Boasting a portfolio of 70+ technology-enabled businesses and a robust fund management of over $400 million, they’re not just investors—they’re growth partners.

For 25 years, they’ve been harnessing technology to fuel growth, predominantly channeling their resources into healthcare ventures that promise national impact.

They look beyond mere intellectual property, craving transformative business models that could redefine industries.

Got a healthcare idea that could rock the nation? Chrysalis Ventures might be your ticket to success!

Best Suited Startups

  • Regional Game-Changers: Healthcare enterprises with regional roots but the potential for national impact.
  • Early Bloomers: Startups with visionary leadership, focusing on technological optimization and substantial growth prospects.
  • Niche Dominators: Healthcare businesses targeting overlooked niches, steering clear of crowded markets, primed for success.

10. New Enterprise Associates

Nestled in the heart of San Francisco, New Enterprise Associates (NEA) is no ordinary VC firm—it's where healthcare's next big thing is born.

With investments in 369 companies, including healthcare giants like Tempus and Everside Health, they've redefined how healthcare meets technology.

Their portfolio? A dazzling array of breakthroughs—from AI-driven precision medicine to transformative care models.

For decades, they’ve championed both life sciences and digital health, steering novel therapeutics, and pioneering digital health platforms.

At NEA, it's not just about funding. It's about mentoring, guiding, and revolutionizing healthcare on a global scale.

Best Suited Startups

  • Therapeutic Innovators: Startups focusing on novel healthcare solutions for major diseases, integrating tech and therapy.
  • Digital Health Trailblazers: Companies redefining patient care through cutting-edge digital platforms and services.
  • Stage-Agnostic Visionaries: Whether you’re just planting the seed or scaling heights, if your idea promises healthcare transformation, NEA's doors are open.

11. MB Venture Partners

Nestled in Memphis, MB Venture Partners stands tall with a precise mission: guiding and funding life sciences innovators.

Over the years, they've pumped more than $120 million into the veins of healthcare startups, with a keen interest in musculoskeletal disease solutions. From seeding startups to partnering with industry giants, they've endorsed over 40 companies.

What sets them apart? Their profound expertise in biotechnology and medical devices is backed by Memphis's thriving musculoskeletal ecosystem.

It's not just capital they provide but a roadmap for success, leveraging years of experience and a commitment to improving patient care.

Best Suited Startups

  • Musculoskeletal Pioneers: Startups developing groundbreaking solutions for musculoskeletal diseases stand a great chance.
  • Seed & Early-Stage Visionaries: MBVP prefers early-stage innovators but remains open to later-stage ventures with promising potential.
  • Southeast & Midwest Gems: While they have a soft spot for the underserved markets of the Southeast and Midwest, exceptional solutions from other regions won't go unnoticed.

12. Blue Venture Fund

At the crossroads of innovation, the Blue Venture Fund (BVF) emerges as a powerful alliance between Blue Cross Blue Shield companies, BCBSA, and Sandbox.

Determined to lead the healthcare sector amidst its seismic shifts, the Fund commits to investments spanning $1M to $20M in healthcare technology, services, and clinical sciences.

As the healthcare landscape evolves, from the Affordable Care Act to rapid tech advancements, BVF stands ready, offering emerging firms unparalleled market positions, brand recognition, and invaluable strategic partnerships.

With the future in sight, they're more than just investors—they're healthcare visionaries.

Best Suited Startups

  • Health Tech Innovators: Startups pushing the envelope in healthcare technology find a promising ally in BVF.
  • Early to Growth Phase: From Pre-Seed to Growth stages, BVF's doors are wide open for game-changers in healthcare.
  • US-Based Visionaries: Geographically, BVF focuses on US-based startups, seeking to transform the nation's healthcare landscape.

13. BioAdvance

Nestled in the mid-Atlantic region, BioAdvance champions the cause of elevating human health. With investments in over 100 transformative companies and boasting 20 notable exits, this evergreen fund takes pride in its track record.

Their portfolio's collective worth? A staggering $1.76B in acquisition value and a whopping $900M in follow-on funding.

Their ethos revolves around collaboration, capital efficiency, and most importantly, enriching human health.

Comprising a blend of scientists, physicians, and seasoned entrepreneurs, BioAdvance doesn't just invest, they partner, nurture, and cultivate healthcare visions.

Best Suited Startups

  • Early Bloomers: Nearly half of BioAdvance's investments are seed stage, making them a haven for budding healthcare startups.
  • Diverse Health Solutions: Whether it's therapeutics, medical devices, or health IT, if it's innovating health, BioAdvance is interested.
  • Mid-Atlantic Gems: Startups based in the mid-Atlantic region, aiming to uplift human health, find a dedicated partner in BioAdvance.

14. Texo Ventures

Fueled by innovation, Texo Ventures passionately partners with audacious entrepreneurs aiming to redefine healthcare.

At the crux of an industry consuming 18% of the US GDP, Texo recognizes the urgency. They're not just investors; they're co-pilots, harnessing 60 years of combined experience to mold game-changers.

Pioneers of a proactive approach, their commitment runs deep: whether it's a tech-enabled health solution or a unique medical device, if it's scalable and alleviates healthcare's pressing issues, Texo is on board.

Their Austin roots fortify their mission, directing funds between $3M and $10M to truly transformative visions.

Best Suited Startups

  • Tech-Enabled Health Solutions: Companies leveraging technology to enhance healthcare access, quality, and affordability.
  • Distinct Medical Devices & Diagnostics: Those offering unique solutions aligned with ongoing healthcare reforms.
  • Scalable & Efficient Models: Startups with minimized regulatory hurdles, maximizing commercialization with fewer capital requirements.

15. SpringRock Ventures

Seattle's SpringRock Ventures stands at the intersection of healthcare and IT, leading the charge into a revolutionary future.

With a legacy of creating over $10B in market value, they're on the hunt for transformative healthcare solutions, be it in digital health, SaaS, genomics, or beyond.

Rooted in a belief that technology and health are converging like never before, their investments—ranging from $2M to $5M—span North America, transcending borders to amplify innovation.

Partnering with SpringRock isn't just about funding; it's about joining forces with seasoned co-founders, harnessing their vast expertise and network, to turn healthcare visions into reality.

Best Suited Startups

  • Early to Late Stagers: Companies showcasing high-growth potential, ready to disrupt the healthcare paradigm.
  • Digital Health Innovators: Startups converging tech and health, redefining patient experiences and outcomes.
  • Oral Health Pioneers: Especially at the seed/EIR stage, reshaping the oral health landscape with groundbreaking solutions.

Final Thoughts

The world of healthcare is shifting, and these VC firms are at the heart of this transformation. From tech-driven solutions to revolutionary therapies, they're backing the game-changers of tomorrow.

If you're in healthcare and dreaming big, there's a VC out there ready to fuel your vision.

Remember, innovation doesn't thrive in isolation. With the right support, who knows? Your startup could be the next big thing in health. So, get inspired, pitch that idea, and let's reshape healthcare together!

Benjamin gave great tips to my start-up Blend for polishing and optimising my pitch deck, refreshing perspective. Recommend!