14 Medical Device Venture Capital Firms To Partner With

When you're raising capital for your Medical Device or MedTech company, knowing which investors to approach is critical. Finding a venture capital firm that truly understands the health technology space can make all the difference in securing the right partnership for your startup.

To help you prepare, our team at Rho created this overview of the top VC firms investing in Medical Device startups. Use this guide to identify potential partners, from seed stage to growth stage, who are actively funding innovation in your field.

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Which VC Firms in Medical Device Are Right for Your Stage?

Knowing the right investors to connect with is important at every point in your company's growth, from the early days to a future exit. We've put together a brief overview of VC firms that focus on medical devices, organized by their investment stage.

Pre-seed and Seed VC Firms in Medical Device

Pre-seed and seed funding is the earliest capital you'll raise, typically used to validate your idea, build a prototype, and find initial market fit. Health technology venture capital firms like SmartGateVC and Creative Ventures specialize in this phase, while organizations like StartUp Health also provide critical seed-stage support for medical device startups.

Early Stage VC Firms in Medical Device

Early-stage funding, which includes Series A and B rounds, helps you scale your operations, grow your team, and achieve significant commercial traction. Some early-stage VC firms that invest in medical device companies include the Boston-based Catalyst Health Ventures and California's Vertex Ventures HC.

Late Stage VC Firms in Medical Device

Late-stage venture capital is for established companies looking for growth equity to expand market share, make acquisitions, or prepare for an IPO. Firms like SV Health Investors often participate in these later rounds, while corporate venture capital from groups like Kaiser Permanente Ventures can also be a source of funding as you approach an exit.

Additionally, many life science VC firms like Third Rock Ventures and HLM Venture Partners invest across multiple stages, from seed to growth.

Below is our overview of top VC firms in the medical device sector, with key information on their investment stages, geographic focus, and specific attributes that may appeal to your company.

1. SV Health Investors

SV Health Investors is a long-standing venture capital and private equity firm based in Boston, focused on the healthcare sector since 1993. They invest across a wide spectrum of company stages, from seed funding all the way to post-IPO and private equity deals.

The firm's portfolio shows a clear focus on biotechnology, life sciences, and medical devices, with notable exits like the Insulet Corporation and telehealth platform Amwell. Their strategy appears to be backing companies with significant long-term potential across various healthcare verticals.

SV Health Investors could be a great partner if you're a medical device or health tech founder looking for an investor with a deep history and a flexible, multi-stage approach. Their track record suggests they are comfortable supporting companies from early development through to public markets or acquisition.

• Investment stages: Seed, early-stage, late-stage, private equity, and post-IPO
• Industries of focus: Biotechnology, Health Care, Life Science, Medical Device
• Geographical presence: Boston, MA
• Founded: 1993
• Notable portfolio companies: Insulet Corporation, American Well (Amwell), AeroCare Holdings
• Track record: Over 300 investments and more than 90 exits

You can refer to their website here.

2. LRVHealth

LRVHealth is a Boston-based venture capital firm that has been investing in healthcare since 2000. Their team is composed of experienced healthcare investors, operators, and advisors, giving them an insider's perspective on the industry.

The firm operates an "Inside Healthcare" platform, connecting its portfolio companies with a network of strategic partners. Their portfolio includes notable exits like the patient-intake platform Phreesia (IPO) and remote patient-monitoring startup Current Health, which was acquired by Best Buy.

LRVHealth is a strong potential partner if you're building a health tech or medical device company and seek investors with deep operational experience. Their focus suggests a good fit for founders creating enterprise solutions for the healthcare system.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Health Care, Medical Device, Enterprise, Security
• Geographical presence: Boston, MA
• Founded: 2000
• Notable portfolio companies: Phreesia, Current Health, GetWellNetwork, Carevive
• Track record: Over 88 investments and 17 exits.

You can refer to their website here.

3. Third Rock Ventures

Third Rock Ventures is a Boston-based firm that has been funding life science companies since 2007. They concentrate on biotechnology, healthcare, and medical device startups that show potential for significant growth.

The firm is known for backing ambitious, science-driven companies and seeing them through to major outcomes like IPOs or acquisitions. Their portfolio includes pioneers like gene-editing company Editas Medicine and Sage Therapeutics, which developed the first FDA-approved therapy for postpartum depression.

Third Rock Ventures is likely a good fit if your company is built on a core scientific discovery in therapeutics or medical technology. Founders seeking a long-term partner to help build a category-defining company from the ground up will find their approach appealing.

• Investment stages: Seed, early-stage, late-stage, and post-IPO
• Industries of focus: Biotechnology, Health Care, Medical Device
• Geographical presence: Boston, MA
• Founded: 2007
• Notable portfolio companies: Sage Therapeutics, Editas Medicine, bluebird bio, Global Blood Therapeutics
• Track record: Over 143 investments and 41 exits

You can refer to their website here.

4. Creative Ventures

Creative Ventures is a deep tech venture firm based in Oakland, California, that invests in early-stage companies. They focus on startups tackling what they see as humanity’s most critical crises, from climate change to healthcare.

The firm's portfolio shows a clear preference for companies built on fundamental scientific or engineering breakthroughs. Notable exits include smart-cart maker Caper, acquired by Instacart, and lidar developer Sense Photonics.

Creative Ventures could be a good match if your medical device company is based on deep tech and aims to solve a significant problem. Founders with a strong technical background building solutions for complex, real-world issues will likely find their investment thesis appealing.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Deep Tech, Health Care, Medical Device, Biotechnology, Advanced Materials, Robotics
• Geographical presence: Oakland, CA
• Founded: 2016
• Notable portfolio companies: Caper (acquired by Instacart), Sense Photonics (acquired by Ouster), Bleximo
• Track record: 60 investments and 4 exits

You can refer to their website here.

5. SmartGateVC

SmartGateVC is a pre-seed and seed-stage venture firm with offices in Southern California and Armenia. They invest in companies building on the frontiers of artificial intelligence, particularly in life sciences and human-computer interaction.

The firm shows a clear preference for deep tech, backing founders in specialized fields like bioinformatics, health diagnostics, and cybersecurity. Their portfolio includes standout companies like the AI noise-cancellation app Krisp and the computer-vision platform SuperAnnotate.

SmartGateVC could be a strong match if you are a founder with a technical background building an AI-driven company. Their focus is well-suited for startups at the earliest stages creating solutions for complex industries, including medical devices.

• Investment stages: Pre-seed, Seed, Early Stage Venture
• Industries of focus: Artificial Intelligence (AI), Bioinformatics, Health Diagnostics, Medical Device, Human Computer Interaction
• Geographical presence: Los Angeles, CA and Armenia
• Founded: 2017
• Notable portfolio companies: SuperAnnotate, Krisp, Deep Origin, Britive
• Track record: 28 investments and 1 exit

You can refer to their website here.

6. Apple Tree Partners

Apple Tree Partners is a New York-based venture capital firm that has been investing in life sciences since 1999. They focus on building companies in the pharmaceutical, biotechnology, and medical technology sectors.

The firm stands out for its flexible, multi-stage investment approach, supporting companies from seed rounds through to post-IPO stages. Their portfolio includes major exits like the medical device maker HeartWare International, which was acquired by Medtronic, and publicly-traded biotech company Akero Therapeutics.

Apple Tree Partners is a good potential investor if you are a founder seeking a long-term partner for a science-driven company. Their track record suggests they are well-equipped to guide companies through significant growth, including acquisitions and public offerings.

• Investment stages: Seed, early-stage, late-stage, and post-IPO
• Industries of focus: Pharmaceuticals, Biotechnology, Medical Device, Healthcare Services
• Geographical presence: New York, NY
• Founded: 1999
• Notable portfolio companies: HeartWare International, Akero Therapeutics, Stoke Therapeutics, Corvidia Therapeutics
• Track record: Over 60 investments and 16 exits

You can refer to their website here.

7. Schooner Capital

Schooner Capital is a Boston-based private investment firm with a long history of backing companies since 1971. They operate as both a venture capital and private equity firm, giving them a wide investment scope.

The firm is notable for its flexible, multi-stage investment approach, supporting companies from seed funding through to private equity. Their portfolio is quite broad, including medical device and pharmaceutical companies alongside consumer brands like Seventh Generation and deep tech like Commonwealth Fusion Systems.

Schooner Capital could be a good fit if you are looking for a long-term financial partner that can support your company across different growth phases. Their history of backing varied industries suggests they are open to unique business models within the medical device field.

• Investment stages: Seed, early-stage, late-stage, and private equity
• Industries of focus: Medical Device, Pharmaceutical, Financial Services, Media and Entertainment
• Geographical presence: Boston, MA
• Founded: 1971
• Notable portfolio companies: Cullinan Oncology, Commonwealth Fusion Systems, Seventh Generation
• Track record: 70 investments and 14 exits

You can refer to their website here.

8. Kaiser Permanente Ventures

Kaiser Permanente Ventures is the corporate venture capital arm of the integrated healthcare system, Kaiser Permanente. Based in Oakland, California, the firm invests in healthcare companies that have the potential to improve health outcomes and the efficiency of care delivery.

As a corporate VC, their investments are often strategic, focusing on technologies that could be relevant to their parent organization. Their portfolio includes digital health leaders like Headspace Health and medical device companies like AtheroMed, showing a broad interest across the healthcare sector.

This firm is an excellent potential partner if your company could benefit from the insights and scale of a major healthcare provider. Founders developing solutions in digital health, diagnostics, or medical devices that align with the needs of a large health system will find their approach particularly valuable.

• Investment stages: Early-stage, late-stage, private equity, and debt
• Industries of focus: Health Care, Medical, Medical Device
• Geographical presence: Oakland, CA
• Founded: 1997 (as the venture arm of Kaiser Permanente)
• Notable portfolio companies: Headspace Health, Omada Health, Oxford Immunotec, AtheroMed
• Track record: Over 115 investments and 34 exits
• Investor type: Corporate Venture Capital

You can refer to their website here.

9. Modi Ventures

Modi Ventures is a Houston-based firm that invests in what it calls the "next frontier." They back companies in sectors like artificial intelligence, healthcare, and medical devices.

The firm shows a strong interest in companies using generative AI to solve complex problems, with portfolio companies like Generate Biomedicines and AI-chip maker Groq. Their strategy appears to focus on backing ambitious, high-growth companies with unicorn potential.

Modi Ventures could be a good partner if your company is built around a core AI technology with applications in healthcare or life sciences. Founders with a clear vision for creating a category-defining business will likely find their approach a good fit.

• Investment stages: Seed, early-stage, and late-stage
• Industries of focus: Artificial Intelligence (AI), Health Care, Information Technology, Medical Device
• Geographical presence: Houston, TX
• Founded: 2022
• Notable portfolio companies: Generate Biomedicines, Groq, Glyphic Biotechnologies
• Portfolio size: 20 investments

You can refer to their website here.

10. HLM Venture Partners

HLM Venture Partners is a Boston-based venture capital firm that has been investing in healthcare technology since 1983. They have a long history of backing companies across the healthcare spectrum, including medical devices and health IT.

The firm is known for its flexible, multi-stage investment strategy, supporting companies from seed funding through to post-IPO stages. Their portfolio includes major successes like telehealth provider Teladoc and medical device company Tandem Diabetes Care, demonstrating their ability to guide companies to the public markets.

HLM Venture Partners could be a strong fit if you are a founder seeking a long-term partner with deep industry experience. Their track record suggests they are well-suited for companies building enterprise health-tech or medical device solutions that require support through multiple growth phases.

• Investment stages: Seed, early-stage, late-stage, post-IPO, and debt
• Industries of focus: Health Care, Information Technology, Medical Device
• Geographical presence: Boston, MA
• Founded: 1983
• Notable portfolio companies: Teladoc, Change Healthcare, Tandem Diabetes Care, Confluent Surgical
• Track record: Over 134 investments and 48 exits

You can refer to their website here.

11. Vertex Ventures HC

Vertex Ventures HC is a Palo Alto-based venture capital firm that invests across the healthcare industry. Since 2014, they have backed companies in biopharmaceuticals, medical devices, and digital health, supporting them through both early and late venture stages.

Their portfolio shows a clear focus on companies developing highly specialized, science-driven solutions. Investments in companies like Neuspera Medical, which is creating miniaturized implants, and Sonoma Biotherapeutics, which is developing T-cell therapies, signal a preference for ambitious platforms built on novel technology.

This firm is a strong potential partner if your company is founded on a significant scientific breakthrough in therapeutics or medical technology. Their multi-stage approach makes them a good fit for founders who are ready to scale and are seeking a knowledgeable healthcare investor.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Biopharmaceuticals, Medical Devices, Digital Health
• Geographical presence: Palo Alto, CA
• Founded: 2014
• Notable portfolio companies: Neuspera Medical, Sonoma Biotherapeutics, SpyGlass Pharma
• Track record: 40 investments and 9 exits

You can refer to their website here.

12. Catalyst Health Ventures

Catalyst Health Ventures is a Boston-based firm that funds companies creating solutions for significant unmet needs in healthcare. They invest across seed, early, and late venture stages, providing support throughout a company's growth cycle.

The firm's portfolio shows a clear focus on medical devices and health diagnostics, with major exits like Augmenix, which was acquired by Boston Scientific. Their track record, which also includes the IPO of Sera Prognostics, demonstrates their ability to back companies through to major financial outcomes.

Catalyst Health Ventures is a strong potential partner if you are a founder of a medical device or diagnostics company addressing a clear clinical problem. Their multi-stage investment strategy makes them a good fit for founders seeking a long-term investor to support them from the early stages to a potential exit.

• Investment stages: Seed, early-stage, and late-stage venture
• Industries of focus: Health Care, Health Diagnostics, Medical Device
• Geographical presence: Boston, MA
• Founded: 2008
• Notable portfolio companies: Augmenix, Sera Prognostics, Kaleidoscope Innovation, Brixton Biosciences
• Track record: 46 investments and 7 exits

You can refer to their website here.

13. SpringRock Ventures

SpringRock Ventures is a Seattle-based firm that invests in companies across several evolving sectors. Since 2012, they have focused on backing entrepreneurs in healthcare, information technology, and medical devices.

The firm has a history of supporting companies through to major exits, including both IPOs and strategic acquisitions. Their portfolio includes medical device company Artemis Medical, acquired by Johnson & Johnson, and genomics leader Illumina.

SpringRock Ventures is a good potential partner if you are building a high-growth company with clear potential for a large-scale exit. Their track record suggests they are comfortable backing ambitious founders across different technology and healthcare fields.

• Investment stages: Seed, early-stage, and late-stage venture
• Industries of focus: Health Care, Information Technology, Medical Device
• Geographical presence: Seattle, WA
• Founded: 2012
• Notable portfolio companies: Illumina, Artemis Medical, Aquantive, Adolor Corporation
• Portfolio size: 38 investments

You can refer to their website here.

14. StartUp Health

StartUp Health is a New York-based venture firm that has been investing since 2011. They describe their mission as funding a global community of "Health Transformers" to achieve ambitious "health moonshots."

The firm's approach is notable for its scale and mission-driven focus, backing a large portfolio across many health sectors, from medical devices to women's health. Their portfolio includes commercially successful companies like Bigfoot Biomedical and high-growth platforms like Tia.

StartUp Health is a great fit if you are an early-stage founder with a bold, long-term vision for solving a major health challenge. Their community-oriented model is well-suited for entrepreneurs who value a large network of peers and a mission-aligned investor.

• Investment stages: Seed, early-stage venture, and grants
• Industries of focus: Health Care, Medical Device, Health Diagnostics, Biotechnology, Personal Health
• Geographical presence: New York, NY
• Founded: 2011
• Notable portfolio companies: Bigfoot Biomedical, Tia, Cyclica, Human API
• Track record: Over 390 investments and 33 exits

You can refer to their website here.

What This Tells Us About The VC Scene for Medical Device Companies

This list of venture capital firms reveals a healthy and varied funding environment for medical device companies. One clear pattern is the number of investors who support businesses across multiple stages, from seed rounds to late-stage growth. For you as a founder, this means that no matter where you are in your company's journey, there are potential partners equipped to support your next steps.

Geographically, there is a strong concentration of firms in established life science hubs, particularly Boston and California. While investors are present in other cities, this clustering indicates where the most active networks are likely located. The variety in investor focus, from deep tech to corporate VCs, also shows that companies with different technologies and business models can find a good match.

Raise Confidently with Rho

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FAQs about Venture Capital Firms Focused on Medical Device

What makes Boston a hub for medical device venture capital firms?

Boston is a major center for medical device VCs due to its dense network of top research universities, teaching hospitals, and established life science companies. This ecosystem provides a steady stream of talent, innovation, and strategic partnership opportunities.

What do early-stage medical device VCs look for?

Early-stage VCs typically focus on the strength of your founding team, the novelty of your technology, and evidence of a significant unmet clinical need. A clear regulatory pathway and strong intellectual property are also very important considerations.

What is the difference between a traditional VC and a corporate VC?

Traditional VCs primarily seek financial returns. Corporate VCs, the investment arms of large companies, also seek strategic value and can offer deep industry knowledge, potential pilot programs, and a direct path to a key customer or partner.

Are there medical device VCs outside of Boston and the Bay Area?

Yes, while Boston and the Bay Area are major hubs, you can find investors in other key regions like Minneapolis, San Diego, and Texas. Many firms also invest nationally or globally, so your location isn't always a barrier.

How do life science VCs differ from specialized medical device VCs?

Life science VCs invest broadly across biotech, diagnostics, and therapeutics. Firms specializing in medical devices have deeper expertise in the specific engineering, regulatory, and commercialization pathways unique to bringing a physical product to market.

How can Rho help after I raise from a venture capital firm?

Once you've secured funding, our team helps you set up your financial operations. Rho provides integrated business banking, corporate cards, and AP automation to manage your new capital and scale your company. Get started with Rho.