Top 11 Venture Capital Firms for Medical Startups

For founders in the medical, biotech, and life sciences sectors, finding the right investor is about more than just capital. You need a partner who understands the specific journey of a health technology company, from long development cycles to complex regulatory approvals.

To help you prepare for your fundraise, our team has curated this overview of top healthcare venture capital firms. We've highlighted investors focused on areas from medical devices to digital health, helping you quickly identify the right partners for your startup.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• For startups in the medical industry, securing venture funding provides the capital and strategic support needed to handle long development cycles and complex regulatory requirements.

• Notable backers active in this space include corporate and traditional VCs like RA Capital Management, Pfizer, J-Ventures, and Bristol-Myers Squibb.

• If you are a startup leader raising a round or have recently closed one, Rho helps you manage your capital with fast business banking, corporate cards, and bill pay.

Which VC Firms in Medical Are Right for Your Stage?

Whether your company is in its early stages or preparing for an exit, it helps to know who to talk to. Here is a quick overview of venture capital firms that invest in medical companies, organized by stage.

Pre-seed and Seed VC Firms in Medical

This is the earliest funding stage, intended for startups that are still refining a core idea or building a minimum viable product. Medical venture capital firms like TechRise, IrishAngels, and Blue Falcon Capital focus on providing the initial capital to get new health technology ideas off the ground.

Early Stage VC Firms in Medical

Early-stage funding, which includes Series A and B rounds, is for companies with established product-market fit that need capital to scale operations. Once you secure that round from an investor like DigiTx Partners or Kaiser Permanente Ventures, Rho’s integrated financial tools help you manage and deploy the capital efficiently.

Late Stage VC Firms in Medical

Late-stage funding supports mature companies preparing for major growth, market expansion, or an exit through an acquisition or IPO. Life sciences VC firms such as RA Capital Management, J-Ventures, and medical device-focused Emergent Medical Partners provide the strategic capital needed to support companies through this final phase.

Keep in mind that some venture capital firms invest across all startup funding stages, from seed to exit. If you are actively raising, Rho Capital connects your startup to non-dilutive funding options like venture debt and credit lines through a fast, guided matching process.

Here is a closer look at the top VC firms focused on the medical sector, with key details about their investment stages, geographic focus, and what makes each firm a strong potential partner for founders like you.

1. RA Capital Management

Based in Boston, RA Capital Management is an investment firm founded in 2001. It specializes in the life sciences and drug development sectors.

The firm invests across the entire company lifecycle, from seed funding to post-IPO. Its portfolio includes major successes like Moderna, POINT Biopharma, and Shockwave Medical, showing a track record of backing companies through to significant exits.

RA Capital is a good match for founders in biotech and medical technology seeking a long-term partner. They are well-suited to support companies with ambitious growth plans that may lead to an acquisition or IPO.

• Investment stages: Seed, early-stage, late-stage, and post-IPO

• Industries of focus: Life sciences, biotechnology, and drug development

• Geographical presence: Boston, MA

• Founded: 2001

• Notable portfolio companies: Moderna, Shockwave Medical, and POINT Biopharma

• Portfolio size: Over 450 investments and nearly 200 exits

You can refer to their website here.

2. Pfizer

Pfizer, a global biopharmaceutical company founded in 1849, operates a corporate venture arm that invests in promising medical and biotech startups. Based in New York, it provides capital and strategic support to companies developing new medicines and healthcare technologies.

Pfizer Ventures focuses on companies with strong scientific foundations, particularly in biotechnology and pharmaceuticals. Its portfolio includes companies like Arrakis Therapeutics, which pioneers small-molecule drugs, and Artios Pharma, an oncology company, signaling a priority for novel drug development.

This firm is an ideal partner for founders in the biopharmaceutical space whose work aligns with Pfizer's strategic interests. If you are developing a novel therapy with a long path to market, their deep industry expertise can be invaluable.

• Investment stages: Venture and private equity

• Industries of focus: Biotechnology, Health Care, Medical, Pharmaceutical, Precision Medicine

• Geographical presence: New York, NY

• Founded: 1849

• Notable portfolio companies: Anaveon, Rhythm Pharmaceuticals, Medtronic

• Portfolio size: 52 investments and 19 exits

You can refer to their website here.

3. J-Ventures

J-Ventures is a Palo Alto-based venture capital firm founded in 2016. It operates as an LP-driven fund that invests across a broad range of industries, including the medical sector.

The firm invests from seed to late stage, showing a flexible approach to company maturity. Its portfolio includes several unicorns like the telehealth company Ro and the spend-management platform Ramp, indicating a focus on high-growth technology companies.

J-Ventures is a good fit for founders in sectors like health tech, fintech, and AI who are looking for a partner that invests across multiple stages. Once you secure a round, Rho’s integrated financial tools—including business banking and corporate cards—help you manage and deploy the capital efficiently.

• Investment stages: Seed, early-stage, and late-stage venture

• Industries of focus: Medical, FinTech, Construction, Education, Marketing, Retail, and Web Development

• Geographical presence: Palo Alto, CA

• Founded: 2016

• Notable portfolio companies: Ro, Ramp, DataRobot, PlayStudios, Yotpo

• Portfolio size: 56 investments and 7 exits

You can refer to their website here.

4. Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical company with a corporate venture arm that invests in medical and biotech startups. Based in New York and founded in 1887, it focuses on discovering and developing new therapies.

The firm's investment strategy often involves strategic partnerships and acquisitions to expand its own pipeline, particularly in oncology and neuroscience. Notable deals include the acquisition of Karuna Therapeutics and a partnership with BioNTech.

BMS is a strong partner for founders in biopharma whose work aligns with the company's strategic interests in areas like precision medicine. If your goal is a strategic acquisition by a major industry player, their approach could be an excellent fit.

• Investment stages: Early-stage venture

• Industries of focus: Biotechnology, pharmaceuticals, and precision medicine

• Geographical presence: New York, NY

• Founded: 1887

• Notable portfolio companies: BioNTech, Karuna Therapeutics, Cellares, Mirati Therapeutics

• Portfolio size: 101 investments and 17 exits

You can refer to their website here.

5. Kaiser Permanente Ventures

Kaiser Permanente Ventures is the corporate venture capital arm of the integrated managed care consortium, Kaiser Permanente. With a long history dating back to 1945, the Oakland-based firm invests in companies across the healthcare sector.

The firm invests across multiple stages and shows a strong interest in medical devices, diagnostics, and digital health, with portfolio companies like Headspace Health and Omada Health. Its track record includes successful exits through both acquisitions and IPOs, signaling a focus on companies with clear commercial potential.

Kaiser Permanente Ventures is an excellent match for founders whose products or services could benefit from a strategic alignment with a major healthcare system. Once you secure funding, Rho’s integrated financial tools—including business banking and corporate cards—help you manage and deploy the capital efficiently.

• Investment stages: Early-stage venture, late-stage venture, private equity, and debt

• Industries of focus: Health care, medical devices, and digital health

• Geographical presence: Oakland, CA

• Founded: 1945

• Notable portfolio companies: Headspace Health, Omada Health, Oxford Immunotec

• Portfolio size: Over 115 investments and 34 exits

You can refer to their website here.

6. DigiTx Partners

DigiTx Partners is an early-stage venture capital firm based in Brisbane, California, that invests in digital health companies. Founded in 2016, the firm provides capital to startups developing new technologies for the medical industry.

The firm shows a clear preference for companies with strong clinical and regulatory validation, backing several startups with FDA-cleared products. Its portfolio includes Eko Health, which develops digital stethoscopes, and Rune Labs, a data platform for monitoring Parkinson’s disease.

DigiTx Partners is a great match for founders developing digital health tools that require a clear path to regulatory approval. Once you secure your early-stage round, our integrated platform at Rho helps you manage the new capital with business banking, corporate cards, and automated payments.

• Investment stages: Early-stage venture

• Industries of focus: Digital health, medical, and product research

• Geographical presence: Brisbane, CA

• Founded: 2016

• Notable portfolio companies: Cleerly, Eko Health, Rune Labs, Welldoc

• Portfolio size: 27 investments and 1 exit

You can refer to their website here.

7. TechRise Chicago

TechRise is a Chicago-based venture capital firm and startup competition founded in 2021. It operates as a multi-stakeholder initiative focused on supporting Black and Latinx tech founders.

The firm invests in seed and early-stage companies across a wide range of industries, including the medical sector. Its model combines venture capital with grants and a startup competition, signaling a strong community and support focus.

TechRise is an ideal partner for Black and Latinx founders at the seed or early stage of their journey. Once you secure that initial funding, our tools at Rho can help you manage your new capital with integrated banking and spend management.

• Investment stages: Seed, early-stage venture, and grant funding

• Industries of focus: Medical, Finance, Education, Construction, and more

• Geographical presence: Chicago, IL

• Founded: 2021

• Portfolio size: 139 investments

• Investor type: Venture capital and startup competition

You can refer to their website here.

8. IrishAngels

IrishAngels is a Chicago-based angel investing network founded in 2012 with a connection to the University of Notre Dame. The firm invests in early-stage companies across the B2B, consumer, and medical sectors.

The firm operates as an angel group, drawing on its strong university network to support its portfolio companies. Its investments include medical device maker Avive, which received FDA clearance, and the highly valued fintech startup Chime.

IrishAngels is a good fit for founders at the seed or early stages who are seeking a strong community alongside capital. Once you secure that initial funding, our tools at Rho can help you manage your new capital with integrated banking and spend management.

• Investment stages: Seed, early-stage venture, and convertible note

• Industries of focus: B2B, consumer, medical, SaaS, and financial services

• Geographical presence: Chicago, IL

• Founded: 2012

• Notable portfolio companies: Chime, Avive, Appcast, Hallow

• Portfolio size: 174 investments and 15 exits

• Investor type: Angel group and venture capital

You can refer to their website here.

9. Network.VC

Network.VC is a Menlo Park-based firm founded in 2019 that operates as both a venture capital fund and a syndicate. It functions as an operating system for independent VC professionals, connecting them with promising startups.

The firm invests in early-stage companies across the medical, software, and biotech sectors, often through seed rounds and convertible notes. Its syndicate model points to a focus on leveraging a broad network of investors to support its portfolio companies.

Network.VC is a strong fit for founders of early-stage tech companies who are looking for access to a wide investor community. If you are raising an early round, Rho Capital can also connect you to non-dilutive funding options to complement your equity financing.

• Investment stages: Seed, early-stage venture, and convertible note

• Industries of focus: Medical, software, biotechnology, and information technology

• Geographical presence: Menlo Park, CA

• Founded: 2019

• Notable portfolio companies: Mesh, VoiceScript, Wizart

• Portfolio size: 58 investments and 7 exits

• Investor type: Syndicate and venture capital

You can refer to their website here.

10. Blue Falcon Capital

Blue Falcon Capital is a New York-based firm that invests in early-stage companies. Founded in 2017, it operates as a micro-VC and angel group, providing seed and early-growth funding across several industries.

The firm shows a clear interest in software-driven solutions for regulated sectors, with portfolio companies like Radformation, an AI tool for oncology, and Medsender, a HIPAA-compliant messaging platform. This signals a focus on businesses solving specific operational challenges.

Blue Falcon Capital is a good match for founders in health tech or B2B software who are raising a seed or early-stage round. Once you secure your funding, our integrated platform at Rho helps you manage the new capital with business banking, corporate cards, and automated payments.

• Investment stages: Seed, early-stage venture, and convertible note

• Industries of focus: Health Care, Medical, Software, Food and Beverage, Marketing

• Geographical presence: New York, NY

• Founded: 2017

• Notable portfolio companies: Radformation, Medsender, Vow

• Portfolio size: 34 investments

• Investor type: Angel group, micro VC, and venture capital

You can refer to their website here.

11. Emergent Medical Partners

Emergent Medical Partners is a life sciences investment firm based in Portola Valley, California. The firm concentrates on companies in the medical device and healthcare sectors.

The firm invests across multiple stages and has a history of backing companies to major exits. Its portfolio includes Ardian, a medical device developer acquired by Medtronic, and Arterys, a medical imaging platform acquired by Tempus.

Emergent Medical Partners is a strong choice for founders of medical device companies with clear commercialization plans and exit potential. If you are raising a late-stage round, Rho Capital can also connect you to non-dilutive funding options to complement your equity financing.

• Investment stages: Debt, early-stage, late-stage, and private equity

• Industries of focus: Biotechnology, medical, and financial services

• Geographical presence: Portola Valley, CA

• Founded: 2006

• Notable portfolio companies: Ardian, Cianna Medical, Arterys

• Portfolio size: 36 investments and 14 exits

You can refer to their website here.

What This Tells Us About The VC Scene for Medical Companies

The funding environment for medical companies shows a healthy balance. While there is significant support for early-stage startups from seed investors and angel groups, you will also find many firms that provide capital through later stages and exit. This indicates a mature sector with opportunities across the entire company lifecycle.

Geographically, investors are concentrated in established biotech hubs in California and on the East Coast. The variety of investor types—from corporate venture arms like Pfizer to community-focused funds like TechRise—gives you options. You can seek a partner whose strategic focus aligns with your specific goals, whether that's deep industry expertise or a strong network.

As you plan your next steps, remember that equity isn't your only option. Rho Capital connects startups to non-dilutive funding options like venture debt and credit lines, helping you secure financing tailored to your business needs without chasing lenders.

Raise Confidently with Rho

Having a focused list of relevant investors is invaluable when your time and energy are limited. This preparation allows you to concentrate on building relationships with partners who truly understand your vision.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. We help you access financing tailored to your business without chasing lenders.

Once capital is secured, Rho provides integrated tools to help you manage and deploy funds efficiently. Our platform offers business banking, corporate cards, and automated bill pay to support your growth.

FAQs about Venture Capital Firms Focused on Medical

What do early-stage healthcare venture capital firms look for?

Early-stage firms seek a strong team, a clear market need, and initial data supporting your product. A well-defined regulatory strategy is also key. Rho Capital can also help you access non-dilutive funding to complement your equity round.

Which are the top biotech VC firms in Boston?

Boston is a major hub for life sciences. Firms like RA Capital Management and Atlas Venture are prominent investors in the area, often backing companies in biotechnology and pharmaceuticals from their earliest stages through to public offerings.

Are there major healthcare VC firms in the Bay Area?

Yes, the Bay Area is home to many leading health technology investors. Firms like Kaiser Permanente Ventures and J-Ventures are active in the region, providing capital and strategic support to medical, biotech, and digital health companies.

What are some top mental health venture capital firms?

Venture firms are increasingly focused on mental health. Investors like Jazz Venture Partners and Optum Ventures actively fund startups developing new therapies, digital platforms, and other solutions to address mental and behavioral health challenges.

How can Rho help my startup manage its funding?

Once you secure funding, our platform helps you manage it with integrated business banking, corporate cards, and automated payments. Rho also connects you to non-dilutive financing options like venture debt to extend your runway.