11 Top Angel Investors for Medical Devices You Should Know
To help you find funding for your medical device startup, we've identified 11 active angel investors who could be the right partner for your company.
Rho Editorial Team
For medical device startups, angel funding can provide not just capital but also valuable industry knowledge and network connections from experienced backers.
The medical device sector attracts many angel investors, with notable backers like Anders Hove, Eric Lefkofsky, Bryan Roberts, and Nimish Shah supporting various businesses.
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For founders raising capital in the medical device and MedTech sectors, knowing the right people to approach is half the battle.
Unlike venture capital firms, angel investors often provide the first check, bringing personal experience alongside their capital to help early-stage companies grow.
To help you find the right partners, we’ve curated this list of top angel investors active in the medical device space. Think of it as a starting point for your fundraising research.
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Top Medical Devices Angel Investors By Stage
Most angel investors in the medical device sector prefer to get involved at the pre-seed or seed stage. This allows them to offer hands-on guidance alongside their capital, so knowing who to approach can make a significant difference in your fundraising.
Pre-seed Angel Investors in Medical Devices
Pre-seed is the earliest funding stage, often used to validate an idea and build a minimum viable product before seeking broader investment. For this initial phase, you might consider investors like Eric Lefkofsky, Jonathan Root, and Casey Tansey, who have experience with pre-seed medical device companies.
Seed Stage Angel Investors in Medical Devices
Seed funding helps a company with initial market entry, product development, and hiring key team members, representing one of the most common startup funding types. Some investors active in the medical device seed stage include Anders Hove, Rob Ness, and Zach Malone.
Series A Angel Investors in Medical Devices
Series A funding is typically for companies that have demonstrated product-market fit and are ready to scale their user base and revenue streams. Investors like Bryan Roberts, Ali Behbahani, and Nimish Shah are a few examples of those who participate in this stage for medical device startups.
Series B Angel Investors in Medical Devices
A Series B round is focused on scaling the business, expanding market reach, and growing the team to meet increasing demand. Among the investors on our list, Tony Evnin, Robert Garland, and Anders Hove have participated in Series B rounds for medical device companies.
It's also worth noting that many investors are flexible and participate in rounds across different stages of a startup's growth. Their involvement often depends on the specific opportunity and the team behind it.
Here are more details on the top angel investors in the medical device sector. We’ve included information on their investment stages, areas of focus, and location to help you identify the right potential partners for your company.
1. Anders Hove
Anders Hove is a partner at Acorn Bioventures with a background that blends medicine, science, and finance. His experience includes time as a Managing General Partner at Venrock and a project manager at Novartis.
His Doctor of Medicine degree and MSc in Biotechnology give him a distinct technical depth, which is reflected in his portfolio. He invests across Seed, Series A, and Series B rounds, often in companies like Intuity Medical that are developing complex medical technologies.
Founders with a strong scientific or clinical background in biotech or medical devices may find Hove to be a particularly good fit. His experience suggests he can provide both capital and informed guidance through the product development lifecycle.
- Investment stages: Seed, Series A, Series B
- Industries of focus: BioTech, Medical Devices, Pharmaceuticals
- Geographical presence: New York, New York
- Ideal investment range: $100K - $5.0M
- Notable investments: Intuity Medical, Edge Therapeutics
You can find more information about Anders Hove on his firm's website or his LinkedIn profile.
2. Eric Lefkofsky
Eric Lefkofsky is a prolific founder and investor, known for co-founding major companies like Groupon and Tempus. He is also a co-founder of Lightbank, a venture capital firm, blending his entrepreneurial experience with his investment activities.
His background as a founder in both e-commerce and medical devices gives him a distinct operational perspective. He often invests in early-stage companies, from pre-seed to Series A, and his portfolio includes his own successful venture, Tempus.
Founders building early-stage companies in the medical device or e-commerce spaces may find Lefkofsky to be a strong partner. His experience as a founder suggests he can provide practical guidance beyond just capital.
- Investment stages: Pre-seed, Seed, Series A
- Industries of focus: E-commerce, Medical Devices
- Geographical presence: Chicago, Illinois
- Ideal investment range: $500K - $1.5M
- Notable investments: Tempus, Groupon, SpotHero
You can find more information about Eric Lefkofsky on his website or LinkedIn profile.
3. Bryan Roberts
Bryan Roberts is a partner at the venture capital firm Venrock, where he has built a long-standing reputation in healthcare and biotech investing. His background is deeply scientific, with a PhD in Chemistry and Chemical Biology from Harvard University.
He typically invests in Series A and Series B rounds, writing larger checks that reflect his role at a major firm. His portfolio includes companies like Lyra Health and Element Biosciences, showing a focus on businesses with significant scaling potential in health and biotech.
Founders with a strong scientific foundation who are ready to raise a substantial Series A or B round may find Roberts to be a good match. His technical depth and experience at Venrock suggest he can provide valuable guidance for companies entering a major growth phase.
- Investment stages: Series A, Series B
- Industries of focus: BioTech, Health IT, Medical Devices, Health & Hospital Services
- Geographical presence: San Francisco, California
- Ideal investment range: $2.0M - $40.0M
- Notable investments: Lyra Health, Element Biosciences, Stride Health
You can find more information about Bryan Roberts on his firm's website or his LinkedIn profile.
4. Nimish Shah
Nimish Shah is a partner at the venture capital firm Venrock, where he concentrates on healthcare investments. His work often involves identifying promising companies in the biotech and medical device sectors.
He typically invests in Seed and Series A rounds, with a focus on biotech, medical devices, and pharmaceuticals. His involvement with companies like Metsera, which has raised significant capital, points to an interest in businesses with high-growth potential.
Founders with companies in the biotech or medical device fields seeking Seed or Series A funding could find a good partner in Shah. His position at Venrock suggests he can provide substantial resources for companies ready to scale.
- Investment stages: Seed, Series A
- Industries of focus: BioTech, Medical Devices, Pharmaceuticals
- Geographical presence: New York, New York
- Ideal investment range: $3.0M - $10.0M
- Notable investments: Metsera
You can find more information about Nimish Shah on his firm's website or his LinkedIn profile.
5. Ali Behbahani
Ali Behbahani is a General Partner at the venture capital firm New Enterprise Associates (NEA), where he concentrates on healthcare investments. He is recognized for his work with biopharmaceutical and medical device companies.
He typically participates in later-stage Series A and B rounds, often with substantial capital. His portfolio includes companies like Monte Rosa Therapeutics and Amber Therapeutics, which have raised significant funding, pointing to his interest in businesses with strong scientific foundations and high growth potential.
Founders with companies in the biotech or medical device sectors who are preparing for a large Series A or B round may find Behbahani to be a good fit. His experience and position at NEA suggest he can provide the resources needed for significant scaling.
- Investment stages: Series A, Series B
- Industries of focus: BioTech, Medical Devices, Pharmaceuticals, Health IT, Health & Hospital Services
- Geographical presence: Philadelphia, Pennsylvania
- Ideal investment range: $2.0M - $50.0M
- Notable investments: Monte Rosa Therapeutics, Amber Therapeutics, 858 Therapeutics
You can find more information about Ali Behbahani on his firm's website or his LinkedIn profile.
6. Robert Garland
Robert Garland is a partner at New Enterprise Associates (NEA), a prominent venture capital firm. He concentrates on healthcare investments, with an emphasis on the medical device and pharmaceutical industries.
His investment history shows participation in rounds from Seed to Series B, often with substantial capital commitments. His portfolio includes companies like Sagimet Biosciences and Trevena, suggesting an interest in businesses with significant growth trajectories.
Founders in the medical device or pharmaceutical sectors seeking a long-term financial partner for multiple funding stages may find Garland to be a good fit. His position at NEA indicates he can provide considerable resources for scaling companies.
- Investment stages: Seed, Series A, Series B
- Industries of focus: Medical Devices, Pharmaceuticals
- Geographical presence: San Francisco, California
- Ideal investment range: $2.0M - $50.0M
- Notable investments: Sagimet Biosciences, Trevena, Cleave Therapeutics
You can find more information about Robert Garland on his firm's website or his LinkedIn profile.
7. Rob Ness
Rob Ness is a General Partner at Asymmetry Ventures, bringing a unique mix of military, consulting, and finance experience to his investment approach. His background includes service in the US Army and roles at consulting firms like Capgemini and Booz Allen Hamilton.
Ness invests across a broad spectrum of industries, from SaaS and AI to medical devices and biotech, typically at the Seed and Series A stages. His investment in Mycroft, an open-source AI company, points to an interest in foundational technologies.
Founders with early-stage companies in deep tech or enterprise software may find Ness to be a valuable partner. His diverse operational background suggests he can offer practical advice that extends beyond just capital.
- Investment stages: Seed, Series A
- Industries of focus: SaaS, AI, IoT, BioTech, Medical Devices, Pharmaceuticals, Enterprise
- Geographical presence: San Francisco Bay Area
- Ideal investment range: $125K - $500K
- Notable investments: Mycroft
You can find more information about Rob Ness on his firm's website or his LinkedIn profile.
8. Zach Malone
Zach Malone is a Principal at Draper Triangle Ventures, a venture capital firm based in Pittsburgh. His background includes roles in finance and analysis, including time spent at UPMC, which may inform his interest in the healthcare sector.
Malone concentrates on Seed and Series A investments across a variety of technology sectors, from medical devices and robotics to SaaS and FinTech. His portfolio, which includes companies like robotics firm Locomation and impact-focused Thread, reflects an interest in businesses with strong technical foundations and diverse applications.
Founders building early-stage companies in MedTech, enterprise software, or robotics may find Malone to be a good partner. His location in Pittsburgh also makes him a key investor for startups growing in the Midwest and beyond.
- Investment stages: Seed, Series A
- Industries of focus: Medical Devices, Robotics, SaaS, FinTech, Enterprise
- Geographical presence: Pittsburgh, Pennsylvania
- Ideal investment range: $500K - $3.0M
- Notable investments: Locomation, Ikos, Thread
You can find more information about Zach Malone on his firm's website or his LinkedIn profile.
9. Jonathan Root
Jonathan Root is a General Partner at U.S. Venture Partners (USVP), where he concentrates on healthcare investments. As a medical doctor, he brings deep clinical insight to his work in the biotech and medical device sectors.
He typically invests from pre-seed to Series A, but his portfolio shows he often supports companies through later growth stages, as seen with his investments in Carlsmed and Edgewise Therapeutics. This indicates a preference for backing companies with strong scientific foundations for the long term.
Founders with a medical or scientific background in biotech or medical devices may find Root to be a good match. He is well-suited for teams looking for an investor who can provide support from the earliest stages through significant funding rounds.
- Investment stages: Pre-seed, Seed, Series A
- Industries of focus: BioTech, Medical Devices
- Geographical presence: Menlo Park, California
- Ideal investment range: $2.0M - $10.0M
- Notable investments: Carlsmed, Edgewise Therapeutics, Silverback Therapeutics
You can find more information about Jonathan Root on his firm's website or his LinkedIn profile.
10. Casey Tansey
Casey Tansey is a General Partner at U.S. Venture Partners (USVP), where he concentrates on early-stage healthcare companies. His work is centered on the medical device and biotech sectors.
While his stated focus is on pre-seed and seed rounds, his portfolio shows a pattern of supporting companies through much later stages. His investment in companies like MicroTransponder and ShiraTronics highlights an interest in businesses with long-term growth potential.
Founders in the medical device and biotech fields who are looking for a long-term financial partner may find Tansey to be a good match. He appears well-suited for teams that need support from the initial idea all the way through major scaling.
- Investment stages: Pre-seed, Seed
- Industries of focus: BioTech, Medical Devices
- Geographical presence: Menlo Park, California
- Ideal investment range: $2.0M - $10.0M
- Notable investments: MicroTransponder, Luminopia, ShiraTronics
You can find more information about Casey Tansey on his firm's website or his Crunchbase profile.
11. Tony Evnin
Tony Evnin is a partner at the venture capital firm Venrock, where he has built a long-standing career investing in healthcare. He is well-regarded for his contributions to the biotech sector over several decades.
Evnin typically participates in Series A and Series B rounds, writing larger checks for companies poised for significant growth. His portfolio, which includes investments in Juno Therapeutics and Acceleron Pharma, shows a pattern of backing science-driven companies through multiple funding stages.
Founders with companies in the biotech and medical device sectors preparing for a substantial growth round may find Evnin to be a good partner. His track record indicates a preference for companies with strong clinical potential that require significant capital to scale.
- Investment stages: Series A, Series B
- Industries of focus: BioTech, Medical Devices, Health IT, Health & Hospital Services
- Geographical presence: New York, New York
- Ideal investment range: $2.0M - $40.0M
- Notable investments: Juno Therapeutics, Acceleron Pharma, Constellation Pharmaceuticals
You can find more information about Tony Evnin on his firm's website or his LinkedIn profile.
What Startup Founders Should Look for in a Medical Devices Investor
When evaluating investors for your medical device startup, look for more than just capital. As our list highlights, many of the most active investors bring deep scientific or clinical backgrounds to the table. This kind of specialized expertise can be just as valuable as funding when navigating complex development and regulatory hurdles.
It's also critical to align on investment stage and focus. The investors above show clear preferences, from early pre-seed rounds to larger Series B commitments. Targeting those whose focus matches your company's current stage and specific niche within MedTech will make your fundraising efforts more effective.
Finally, consider an investor's network and geographical base. While deals are increasingly global, investors in hubs like the Bay Area or New York often provide access to concentrated ecosystems. A thoughtful approach to finding angel investors involves researching these factors to find a true partner for growth.
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If you’ve just raised, Rho can help you set up your financial stack in minutes. Our platform provides business banking, corporate cards, and bill pay solutions built for startups.
This helps you manage your new capital efficiently, directing your funds toward growth and operations instead of manual financial administration.
FAQs about Medical Devices Angel Investors
Are there medical device angel investors in Boston?
Yes, Boston is a major hub for MedTech and biotech innovation. Many angel investors in Boston are active in the medical device space, often seeking companies with strong scientific foundations and clinical potential.
What do pre-seed medical device investors look for?
At the pre-seed stage, investors focus on your founding team's strength, the market opportunity, and your concept's credibility. A clear vision for your product and its potential impact is crucial for securing initial funding.
How much equity do angel investors typically take?
Angel investors often seek between 10% and 25% equity in a seed round. The exact amount depends on your company's valuation and the terms negotiated during your startup funding rounds.
Do medical device investors also fund biotech startups?
Yes, there is significant overlap. Many investors who fund medical devices are also interested in biotech startups, especially when the technology addresses a clear clinical need with a strong scientific foundation.
How can Rho help after I secure angel funding?
Once you've raised capital, our platform helps you manage it efficiently. Rho provides integrated business banking, corporate cards, and expense management, so you can focus your new funds on growing your company.