Top 11 Venture Capital Firms for Medical Startups

For founders in the Medical, MedTech, or life sciences space, knowing the right investors is a critical part of preparing to raise capital. You need a partner who understands the specifics of your industry, from medical devices to biotechnology.

To help with your research, our team at Rho created this overview of top venture capital firms focused on healthcare. We've curated this list to help you quickly identify relevant investors for your startup, whether you're fundraising now or planning for a future round.

Just raised, or about to? Set up your financial stack with Rho in minutes. Rho provides business banking, corporate cards, and bill pay — built for startup teams moving fast.

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. This is a quick overview of which venture capital firms in the medical industry invest at each stage.

Pre-seed and Seed VC Firms in Medical

Pre-seed and seed funding are the earliest forms of capital, typically used to validate an idea, build a minimum viable product, and achieve initial market traction. For founders at this initial stage, firms like TechRise and IrishAngels focus on seed investments, while micro VC funds such as BlueFalcon Capital also provide early-growth funding.

Early Stage VC Firms in Medical

Early-stage venture capital, including Series A and B rounds, helps companies with a proven product scale their operations, expand their team, and grow their customer base. Some early-stage healthcare venture capital firms to consider are DigiTx Partners, which invests in digital health, and the corporate venture arms of major players like Bristol-Myers Squibb and Kaiser Permanente Ventures.

Late Stage VC Firms in Medical

Late-stage funding is for established companies looking to expand into new markets, make acquisitions, or prepare for an Initial Public Offering (IPO). Life sciences venture capital firms like RA Capital Management are active in this space, alongside corporate investors such as Pfizer and medical device specialists like Emergent Medical Partners.

It's also worth noting that some versatile VC firms invest across all funding stages, from seed to exit.

Here is our overview of top venture capital firms that focus on the medical industry. For each firm, we've included key details on their investment stages, geographic focus, and what distinguishes them for founders.

1. RA Capital Management

Based in Boston, RA Capital Management is an investment firm specializing in the life sciences and drug development sectors. They have a strong focus on biotechnology and medical companies.

What makes them different is their flexibility; they invest across all stages, from seed rounds to post-IPO. Their portfolio includes major successes like Moderna, the developer of the mRNA COVID-19 vaccine, and POINT Biopharma.

This firm is a good fit if you're a founder in the biotech or life sciences space looking for a long-term financial partner. Their ability to support companies through multiple funding rounds is a significant advantage.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Post-IPO, Private Equity
• Industries of focus: Life Science, Biotechnology, Medical
• Geographical presence: Boston, Massachusetts
• Founded: 2001
• Notable portfolio companies: Moderna, Shockwave Medical, POINT Biopharma
• Portfolio size: Over 450 investments and nearly 200 exits.

You can refer to their website here.

2. Pfizer

As a major biopharmaceutical company, Pfizer also operates as a corporate venture capital firm. They invest in promising biotechnology and healthcare companies, offering both capital and the deep industry knowledge of a global pharmaceutical leader.

Pfizer Ventures focuses on areas like biotechnology and precision medicine, backing companies with strong scientific foundations. Their portfolio includes innovators like Arrakis Therapeutics, which targets RNA with small-molecule drugs, and oncology leader Artios Pharma.

This firm is a strong match if your startup is developing new therapies or technologies in biotech or pharma. Founders seeking a strategic partner with extensive scientific and commercialization experience will find their backing provides significant validation.

• Investment stages: Private Equity, Venture
• Industries of focus: Biotechnology, Health Care, Medical, Pharmaceutical, Precision Medicine
• Geographical presence: New York, New York
• Founded: 1849
• Notable portfolio companies: Arrakis Therapeutics, Artios Pharma, Anaveon, Rhythm Pharmaceuticals
• Portfolio size: 52 investments

You can refer to their website here.

3. J-Ventures

J-Ventures is a Palo Alto-based, LP-driven venture capital fund that invests across a wide range of industries. Their portfolio includes companies in the medical sector, as well as fintech, retail, and education.

The firm supports companies from seed to late-stage rounds, showing a capacity for long-term partnership. Their portfolio features several high-growth unicorns, including the direct-to-consumer telehealth company Ro.

This firm is a good match for founders whose companies fall into one of their diverse focus areas, including medical technology. Their multi-stage investment approach is well-suited for teams seeking a financial partner for the entire growth journey.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Medical, FinTech, Retail, Construction, Education
• Geographical presence: Palo Alto, California
• Founded: 2016
• Notable portfolio companies: Ro, Ramp, DataRobot, 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 biopharmaceutical company that also operates as a strategic corporate investor. They focus on discovering, developing, and bringing new medicines to market across several key therapeutic areas.

The firm's investment strategy centers on companies that strengthen its own pipeline, particularly in oncology, immunology, and neuroscience. Their recent activity includes acquiring Karuna Therapeutics for its late-stage schizophrenia therapy and partnering with BioNTech on a cancer treatment.

This makes them an ideal partner if you're a founder with a company in clinical development, especially in precision medicine or therapeutics. They offer a clear path to acquisition and the resources of a major pharmaceutical leader.

• Investment stages: Early Stage Venture, Venture
• Industries of focus: Biotechnology, Health Care, Medical, Pharmaceutical, Precision Medicine
• Geographical presence: New York, New York
• Founded: 1887
• Notable portfolio companies: BioNTech, Karuna Therapeutics, 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 one of the nation's largest integrated health systems. They invest in healthcare companies, focusing on medical devices and digital health innovations that improve care.

Their connection to the Kaiser Permanente health system offers deep clinical insights and a real-world testing ground for new technologies. They have a strong record of successful exits, including digital health leader Omada Health and diagnostics company Accriva.

This firm is a great match for founders whose products could benefit from a strategic partnership with a major healthcare provider. Their backing is particularly valuable if your company is developing solutions in digital health or medical devices.

• Investment stages: Early Stage Venture, Late Stage Venture, Private Equity, Debt, Venture
• Industries of focus: Health Care, Medical, Medical Device
• Geographical presence: Oakland, California
• Founded: 1945
• Notable portfolio companies: Headspace Health, Omada Health, Oxford Immunotec, Accriva
• Portfolio size: 116 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 California that invests exclusively in digital health companies. They provide capital to teams building the next generation of healthcare technology.

The firm's portfolio shows a clear focus on clinically-validated tools, backing companies like Eko Health, which develops FDA-cleared digital stethoscopes, and Rune Labs, a neurologic data platform. Their investments often target companies with strong intellectual property and a clear path to regulatory approval.

This firm is a strong match if you're a founder building digital health solutions, particularly those involving AI, data platforms, or regulated medical software. Teams seeking a partner with experience in clinical adoption will find their focus valuable.

• Investment stages: Early Stage Venture
• Industries of focus: Digital Health, Health Care, Medical
• Geographical presence: Brisbane, California
• Founded: 2016
• Notable portfolio companies: Cleerly, Eko Health, Welldoc, Rune Labs
• Portfolio size: 27 investments

You can refer to their website here.

7. TechRise Chicago

TechRise is a Chicago-based venture capital firm and startup competition with a clear mission. It operates as a multi-stakeholder initiative to provide capital and support to tech companies across a wide range of industries, including the medical field.

The firm’s primary focus is on backing Black and Latinx founders, creating opportunities for underrepresented entrepreneurs. Their model, which combines venture capital with grants and a competition format, points to a strong support network that goes beyond just funding.

TechRise is an excellent fit if you are a Black or Latinx founder in the early stages of building your company. Their broad industry focus makes them a relevant investor for many types of startups seeking seed or early-stage capital.

• Investment stages: Seed, Early Stage Venture, Grant
• Industries of focus: Medical, Finance, Construction, Education, Food and Beverage, Insurance
• Geographical presence: Chicago, Illinois
• Founded: 2021
• Founder focus: A multi-stakeholder initiative supporting Black and Latinx tech founders.
• Portfolio size: 139 investments

You can refer to their website here.

8. IrishAngels

IrishAngels is an angel investing network with ties to the University of Notre Dame, providing capital to companies in the B2B, consumer, and medical sectors. Based in Chicago, they operate as both an angel group and a venture capital firm.

The firm focuses on seed and early-stage ventures, often using convertible notes. Their portfolio highlights a broad interest, from fintech giant Chime to Avive, a medical device company that developed a next-generation defibrillator.

This firm is a good fit for early-stage founders, especially those who can benefit from the extensive Notre Dame alumni network. If your startup is in the B2B, consumer, or medical device space, their track record suggests a strong potential for partnership.

• Investment stages: Seed, Early Stage Venture, Convertible Note
• Industries of focus: B2B, Consumer, Medical, SaaS, Financial Services
• Geographical presence: Chicago, Illinois
• Founded: 2012
• Notable portfolio companies: Chime, Appcast, Hallow, Avive
• Portfolio size: 174 investments and 15 exits

You can refer to their website here.

9. Network.VC

Network.VC is a venture capital firm and syndicate based in Menlo Park that describes itself as an operating system for independent VC professionals. They invest across a broad range of industries, including software, biotechnology, and the medical sector.

The firm’s model as a syndicate is a key differentiator, suggesting a community-driven or platform-based approach to investing. They concentrate on early-stage companies, frequently using convertible notes to provide initial funding for seed and venture rounds.

This firm is a strong fit for founders at the earliest stages of development, especially in technology-focused fields like software, IT, and biotech. The syndicate structure may appeal to teams seeking a wide network of investors rather than a single institutional partner.

• Investment stages: Seed, Early Stage Venture, Convertible Note, Venture
• Industries of focus: Software, Biotechnology, Health Care, Medical, Internet, Apps
• Geographical presence: Menlo Park, California
• Founded: 2019
• Notable portfolio companies: VoiceScript, Wizart, Mesh
• Portfolio size: 58 investments and 7 exits

You can refer to their website here.

10. Blue Falcon Capital

Blue Falcon Capital is a New York-based micro VC and angel group that provides seed and early-growth funding. They invest across several sectors, with a notable presence in companies focused on healthcare, medical technology, and software.

The firm backs companies building practical, high-impact solutions, from Radformation's AI for oncology workflows to Medsender's HIPAA-compliant messaging platform. Their focus on early-stage rounds, often using convertible notes, shows a commitment to getting in on the ground floor.

This firm is a strong match for founders at the seed stage who are building technology to solve clear industry problems. This is especially true for those in health-tech or B2B software seeking an early financial partner.

• Investment stages: Seed, Early Stage Venture, Convertible Note
• Industries of focus: Health Care, Medical, Software, Food and Beverage, Marketing
• Geographical presence: New York, New York
• Founded: 2017
• Notable portfolio companies: Radformation, Medsender, Vow, SION
• Portfolio size: 34 investments

You can refer to their website here.

11. Emergent Medical Partners

Emergent Medical Partners is a life sciences investment firm based in California, with a clear focus on companies in the medical device and healthcare sectors. They support businesses across various stages of growth, from early rounds to private equity.

The firm has a strong track record of guiding portfolio companies to successful, high-value exits with major industry players. Notable examples include the acquisition of Ardian by Medtronic and the sale of Arterys to Tempus.

This makes them an excellent partner for founders of medical device companies who are building toward a strategic acquisition. Their multi-stage investment capability also suits teams looking for a long-term financial partner.

• Investment stages: Early Stage Venture, Late Stage Venture, Private Equity, Debt
• Industries of focus: Medical, Biotechnology, Financial Services
• Geographical presence: Portola Valley, California
• 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

This overview of venture capital firms shows a well-balanced funding environment for companies in the medical sector. You'll find investors across the entire spectrum, from micro VCs and angel groups focused on seed funding to major firms like RA Capital that invest from the earliest stages through to post-IPO.

The presence of corporate investors such as Pfizer and Kaiser Permanente Ventures also points to a strong interest in strategic partnerships and acquisitions. Geographically, while major hubs in California and the Northeast are prominent, our list shows that significant investors are also active in other regions like the Midwest. This variety gives you more options as you build your fundraising strategy.

Raise Confidently with Rho

Having a focused list of relevant investors is a significant advantage. It helps you direct your limited time and energy toward the right conversations during a fundraise.

When your round is closed, we're here to help you manage it. 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 in one place. This gives you the tools to manage your new capital efficiently as you grow.

FAQs about Venture Capital Firms Focused on Medical

Which are the top biotech venture capital firms in Boston?

Boston is a major hub for biotech. Firms like RA Capital Management, featured on our list, are prominent investors. The area is dense with VCs focused on life sciences, so research is key to finding the right partner for you.

What are some leading life sciences VC firms in the Bay Area?

The San Francisco Bay Area is home to many top-tier VCs. Our list includes firms like J-Ventures and Emergent Medical Partners, which are active in the life sciences. The region offers a deep network of experienced investors for founders.

How do I find early-stage healthcare venture capital firms?

Start by identifying firms that explicitly state an early-stage focus, like DigiTx Partners or IrishAngels from our list. Networking within your industry and using investor databases can also help you build a list of potential Series A partners.

Are there VCs that only invest in digital health?

Yes, some firms specialize exclusively in digital health. DigiTx Partners, for example, focuses on this area. These specialist investors bring deep industry knowledge and a network that can be particularly valuable for founders in this specific sector.

Are there many healthcare venture capital firms in the UK?

While our list focuses on US firms, the UK has a strong and growing healthcare investment scene. London, Cambridge, and Oxford are key hubs. Researching local accelerators and venture funds will provide a list of relevant UK-based investors.

How can Rho help after I secure funding?

Once your round is closed, our platform helps you manage your new capital. We provide integrated business banking, corporate cards, and automated bill pay to give you full control over your company's finances. Get started with Rho today.