Truffle Capital Raises € 250m Fund to Launch Life Science Startups
The French VC firm Truffle Capital has closed a fund worth € 250m with a mission to nurture companies specializing in medical devices and robotics.
The fund, named BioMedTech, will be used to create around 12 companies, with a focus on French startups. The majority of the fund, around 60%, came from French investors and the rest came from international investors. The companies created by the fund will develop medical technology that Truffle Capital sourced from leading US and European universities, with the aim of revolutionizing the field of minimally-invasive surgery.
Companies created by this new fund so far include HoliStick Medical, which is developing a catheter device that can repair heart tissue without needing open-heart surgery, and PKMed, which is working on implants that release drugs slowly over time. Another company that Truffle set up, Artedrone, is developing tiny robots that could treat strokes.
“Our investment strategy is designed to allow clinicians to treat patients more effectively and in a less traumatic way with revolutionary products, allowing patients to enjoy better and longer lives, and payers to reduce health costs,” stated Philippe Pouletty, CEO of Truffle Capital.
Truffle Capital invests across a wide range of life science companies. Other companies in its portfolio include the French company Abivax, which is developing a drug for treating the inflammatory disease ulcerative colitis, and the bioplastics company Carbios.