Truffle Capital drums up $102m for French medtech startups

Truffle Capital said this week that the initial closing of its new venture fund, Truffle BioMedTech, brought in $102 million (€85 million) of a hoped-for $240 million. Led by European and Asian institutional and corporate investors and family offices, the fund will look to sniff out “major breakthroughs” at North American and European research centers and spin them out as up to 12 startups in France, Truffle said. “As a major European venture capital player in the fields of interventional medicine, connected bioprostheses and biotechnology, Truffle Capital attracts prominent investors, scientists, engineers, clinicians and entrepreneurs who share its vision,” co-founder and CEO Dr. Philippe Pouletty said in prepared remarks. “Truffle’s entrepreneur-investor business model works well, as demonstrated by the recent successes of Vexim, Carmat, Symetis, Pharnext, Carbios and Abivax, all founded or cofounded by Truffle Capital, alongside world-class management and research teams. After selecting major breakthroughs from top universities in North America and Europe, Truffle BioMedTech will create start-ups in France, each with the potential to become a global leader thanks to a disruptive and life-changing medical device, drug or healthcare product. For each start-up, Truffle Capital sets up an ambitious R&D team, an experienced management team, and attracts co-investors to promote growth to advanced clinical, manufacturing and commercial ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Funding Roundup Wall Street Beat trufflecapital Source Type: news