Digital health and medtech investment firm Spex Capital has joined forces with MedCity to identify and fund healthtech ventures, accelerating their route to commercialisation and uptake in healthcare systems globally.
The partnership will support companies seeking investment, with a first call launching in September focusing on companies wanting seed and Series A stage investment.
As the life sciences cluster organisation for London, MedCity has relationships across the UK and with international life science clusters, which it will use to attract applications from investment-ready companies developing digital healthtech and medtech.
The investment firm will invest in the most viable companies with a £100 million fundraising target. The most promising companies will be offered tickets between £500,000 and £5 million.
Founded this year by serial healthtech entrepreneur Claudio D’Angelo, London-based Spex Capital already has a portfolio of seven high-growth companies.
D’Angelo said: “There is an incredible pool of talent with unexpressed potential in digital health and med tech, but many innovative ventures in the sector don’t get access to the appropriate opportunities in their early stages due to lack of funds and track record. This is where Spex Capital comes in. Specialised in advancing disruptive early-stage ventures, our goal is to deliver breakthroughs in healthcare systems globally. I’m glad to be working again with MedCity on an exclusive basis with my new venture. We’ve fine-tuned the process over the years to deliver a more efficient reviewal process and I’m excited to see what this call will yield in terms of talent”
MedCity’s chief operating officer Nicki Bromwich added: “Through its funding of transformative healthtech, Spex Capital is allied with MedCity’s own mission of supercharging innovation and driving investment into the life sciences sector to ultimately improve human health and patient outcomes. “
Spex Capital has a 15-strong team comprising six investment members, seven senior advisors and two venture partners.
Date published: July 23, 2021