14 Medical Device Venture Capital Firms To Partner With
Finding the right investor is key. We've compiled a list of 14 venture capital firms actively funding medical device companies to help you get started.
Rho Editorial Team
For founders in the medical device and MedTech sectors, preparing to raise capital means finding investors who truly get your work. Identifying the right healthcare venture capital firms is critical, as you need a partner who understands the long development cycles and regulatory paths unique to the industry.
To help with your search, our team curated this list of top medical device VC firms. We hope this overview helps you quickly identify relevant investors for your startup, whether you're at the seed stage or looking for growth capital.
Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.
Key Takeaways
For medical device startups, securing venture funding means finding a partner who understands long development timelines and complex regulatory requirements.
Top VC firms active in the medical device industry include SV Health Investors, LRVHealth, Third Rock Ventures, and Creative Ventures, known for backing innovative companies in this space.
Once you've raised a round, Rho helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay.
Which VC Firms in Medical Device Are Right for Your Stage?
Whether you're an early-stage company or closer to an exit, connecting with the right investors is key. Here’s a quick look at which medical device VC firms invest at each 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. For founders at this stage, firms like SmartGateVC and Creative Ventures are active seed stage VC firms, while StartUp Health is another health-focused investor to consider.
Early Stage VC Firms in Medical Device
Early-stage funding, which includes Series A and B rounds, is for companies with a proven product and early traction, helping you scale operations and expand your team. Some early-stage healthcare venture capital firms that focus on this phase include the Boston-based LRVHealth and Catalyst Health Ventures.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Late Stage VC Firms in Medical Device
Late-stage venture capital is for established companies preparing for a major growth push, an acquisition, or an initial public offering (IPO). Medical device companies looking for growth capital might connect with investors like SV Health Investors or Third Rock Ventures, both of which have a history of backing companies through to an exit.
Keep in mind that many medical technology venture capital firms, such as Apple Tree Partners and HLM Venture Partners, invest across multiple stages from seed to growth.
To help you find the right partner, we've compiled details on some of the top VC firms investing in medical device companies. We've included key information on their investment stages, geographic focus, and what makes each firm a strong potential partner for founders.
1. SV Health Investors
Since 1993, SV Health Investors has been a dedicated venture capital and private equity firm focused on the healthcare sector. From their base in Boston, they invest in biotechnology, life science, and medical device companies.
The firm supports companies across their entire lifecycle, from seed funding through to post-IPO stages, signaling a capacity for long-term partnership. Their portfolio features significant exits, including the telehealth platform Amwell and the insulin-pump developer Insulet Corporation.
SV Health Investors is a compelling choice for founders in biotech and healthcare who want a financial partner for the long haul. Their track record of guiding companies toward major acquisitions and IPOs makes them a good fit for teams with high-growth ambitions.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture, private equity, and post-IPO
Industries of focus: Biotechnology, Health Care, Life Science, Medical Device
Geographical presence: Boston, Massachusetts
Founded: 1993
Notable portfolio companies: Amwell, Insulet Corporation, Achillion Pharmaceuticals
Track record: Over 317 investments and 92 exits
You can refer to their website here.
2. LRVHealth
Based in Boston, LRVHealth has operated as a healthcare-focused venture capital firm since 2000. They describe their model as an "Inside Healthcare" platform, bringing together investors, operators, and advisors to support their portfolio companies.
The firm invests across seed, early, and late stages, with a focus on enterprise, security, and medical device companies within the healthcare sector. Their portfolio includes notable exits like the patient-intake platform Phreesia, which went public, and Current Health, a remote patient-monitoring startup acquired by Best Buy.
LRVHealth is a strong potential partner for founders who value operational expertise and deep industry connections alongside capital. If your medical device company has an enterprise or security component, their specific focus could be a great match.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture
Industries of focus: Enterprise, Health Care, Medical Device, Security
Geographical presence: Boston, Massachusetts
Founded: 2000
Notable portfolio companies: Phreesia, Current Health, Carevive
Track record: Over 88 investments and 17 exits
You can refer to their website here.
3. Third Rock Ventures
Since 2007, Third Rock Ventures has focused on building transformational life science companies from its base in Boston. The firm invests across the full company lifecycle, from seed and early-stage rounds to late-stage and post-IPO financing.
Third Rock takes a hands-on, company-creation approach, often incubating ideas and guiding them toward major public market exits. Their portfolio includes high-profile successes like gene-editing pioneer Editas Medicine and Sage Therapeutics, which launched the first FDA-approved therapy for postpartum depression.
This firm is an excellent match for founders in biotech and life sciences with ambitious, science-first goals. If you are looking for a deeply involved partner to help build a category-defining company from the ground up, Third Rock is a compelling option.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture, and post-IPO
Industries of focus: Biotechnology, Health Care, Medical Device
Geographical presence: Boston, Massachusetts
Founded: 2007
Notable portfolio companies: Sage Therapeutics, Editas Medicine, bluebird bio, Global Blood Therapeutics
Track record: 143 investments and 41 exits
You can refer to their website here.
4. Creative Ventures
Creative Ventures is a deep tech venture firm that invests in early-stage companies solving what they call "humanity's most critical crises." Based in Oakland, California, they back founders using science and technology to address major global challenges.
The firm has a clear focus on deep tech, investing across sectors like robotics, advanced materials, and medical devices. Their portfolio includes companies like Caper, an AI-powered smart cart startup acquired by Instacart.
This firm is a good fit for founders with a strong technical background building companies that tackle fundamental problems. If your startup is built on a scientific or engineering breakthrough, their deep tech focus could make them a strong partner.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed and early-stage venture
Industries of focus: Deep Tech, Health Care, Medical Device, Robotics, Advanced Materials
Geographical presence: Oakland, California
Founded: 2016
Notable portfolio companies: Caper (acquired by Instacart), Sense Photonics (acquired by Ouster), Bleximo
Track record: Over 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 teams in Southern California and Armenia. They invest in deep tech companies using artificial intelligence to advance fields like life sciences, bioinformatics, and human-computer interaction.
The firm’s approach centers on backing companies where AI is the core technology, from consumer apps to enterprise platforms. Their portfolio includes notable companies like the AI drug-discovery platform Deep Origin and multi-cloud security startup Britive, which raised a $20.5 million Series B in 2023.
SmartGateVC is a strong match for founders at the earliest stages whose startups are built on a foundational AI innovation. If your medical device or health diagnostics company is driven by AI, their specialized focus could make them an ideal partner.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed and early-stage venture
Industries of focus: Artificial Intelligence (AI), Bioinformatics, Cyber Security, Health Diagnostics, Human Computer Interaction, Internet of Things, Medical Device
Geographical presence: Los Angeles, California 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 since 1999. They focus on building companies in the life sciences, including pharmaceuticals, biotech, and medical technology.
The firm supports companies from their earliest seed stages all the way through to post-IPO, demonstrating a capacity for long-term partnership. Their portfolio shows a history of successful exits, including the medical device maker HeartWare International, which was acquired by Medtronic.
Founders with ambitious goals in pharmaceuticals, biotech, or medical devices could find a strong partner in Apple Tree Partners. Their experience guiding companies from seed to major public offerings or acquisitions makes them a good fit for teams aiming for a significant exit.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture, and post-IPO
Industries of focus: Biotechnology, Medical Device, Pharmaceutical, Healthcare Services
Geographical presence: New York, New York
Founded: 1999
Notable portfolio companies: Akero Therapeutics, Stoke Therapeutics, HeartWare International (acquired by Medtronic)
Track record: 61 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 dating back to 1971. They support companies across various stages, from seed and venture rounds to private equity, with a focus that includes medical devices and pharmaceuticals.
The firm invests across a broad spectrum of industries, from medical devices to financial services and clean energy. Their portfolio highlights a history of successful exits, such as the IPO for drug-developer Cullinan Oncology and the acquisition of household brand Seventh Generation by Unilever.
Schooner Capital could be a good match for founders seeking a flexible, long-term financial partner that can support a company from its early days through to growth. Their multi-stage and multi-industry approach suggests they value strong business fundamentals, regardless of the specific sector.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture, private equity
Industries of focus: Financial Services, Media and Entertainment, Medical Device, Pharmaceutical
Geographical presence: Boston, Massachusetts
Founded: 1971
Notable portfolio companies: Cullinan Oncology, Seventh Generation, Commonwealth Fusion Systems (CFS)
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 health system, Kaiser Permanente. Based in Oakland, California, the firm invests strategically in companies across the healthcare industry.
As a corporate venture firm, it offers portfolio companies potential access to the vast Kaiser Permanente ecosystem. Their investments span from medical devices and diagnostics to digital health leaders like Headspace Health and Omada Health.
This firm is a strong potential partner for founders whose products could benefit from validation or distribution within a large health system. If your company is ready to scale and aligns with the needs of a major healthcare provider, their strategic capital is worth considering.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Debt, early and late-stage venture, private equity
Industries of focus: Health Care, Medical, Medical Device
Geographical presence: Oakland, California
Founded: 1945
Notable portfolio companies: Headspace Health, Omada Health, Accriva, AtheroMed
Track record: 116 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 investing in what it calls the "Next Frontier" of deep tech. Founded in 2022, they back companies using AI to advance healthcare, IT, and medical devices.
The firm invests from seed to late-stage and has a portfolio with unicorns like AI-chip maker Groq and biotech company Generate Biomedicines. Their model includes both direct venture capital investments and a fund of funds strategy.
This firm is a strong match for founders with a deep-tech or AI-centric business. Their multi-stage approach is ideal for teams seeking a long-term financial partner to support their growth.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture
Industries of focus: Artificial Intelligence (AI), Health Care, Information Technology, Medical Device
Geographical presence: Houston, Texas
Founded: 2022
Notable portfolio companies: Generate Biomedicines, Groq, Glyphic Biotechnologies, March Biosciences
Investor type: Venture Capital, Fund of Funds
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 companies since 1983. They focus on businesses in health care, information technology, and the medical device sector.
The firm is notable for its flexible, multi-stage investment approach, supporting companies from seed funding through to post-IPO stages. Their portfolio includes major successes like telehealth pioneer Teladoc and Tandem Diabetes Care, demonstrating a long history of backing companies that become industry leaders.
HLM could be a strong partner for founders looking for an investor with deep experience scaling healthcare companies toward significant exits. If your business is in health IT or medical devices and you have ambitions for an IPO or major acquisition, their track record is highly relevant.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture, post-IPO, and debt
Industries of focus: Health Care, Information Technology, Medical Device
Geographical presence: Boston, Massachusetts
Founded: 1983
Notable portfolio companies: Teladoc, Change Healthcare, Tandem Diabetes Care, Covetrus
Track record: 134 investments and 48 exits
You can refer to their website here.
11. Vertex Ventures HC
Based in Palo Alto, Vertex Ventures HC has been investing in the healthcare industry since 2014. The firm focuses on biopharmaceuticals, medical devices, and digital health companies, supporting them through both early and late-stage venture rounds.
The firm shows a clear preference for companies built on deep scientific innovation, backing pioneers in areas like gene-amplified cancer therapies and next-generation cell therapy. Their portfolio includes companies like Neuspera Medical, which is developing ultra-miniaturized neuromodulation implants, and Sonoma Biotherapeutics, which is working on T-cell therapies for autoimmune disease.
Vertex Ventures HC is a strong potential partner for founders with a deep scientific or clinical background who are developing novel platforms or treatments. If you need an investor who understands complex science and long development timelines, this firm is worth considering.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Early and late-stage venture
Industries of focus: Biopharmaceuticals, Medical Devices, Digital Health, Pharmaceutical
Geographical presence: Palo Alto, California
Founded: 2014
Notable portfolio companies: Boundless Bio, Sonoma Biotherapeutics, Neuspera Medical, 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 backs companies creating new solutions for significant unmet needs in healthcare. They invest from seed to late-stage, with a focus on medical devices and health diagnostics.
The firm’s portfolio highlights a history of backing companies to major exits. These include Augmenix, acquired by Boston Scientific, and the maternal-health diagnostics company Sera Prognostics, which completed an IPO.
This firm is a good fit for founders with a medical device or diagnostic solution that addresses a clear, unmet clinical need. Their multi-stage investment strategy makes them a relevant partner whether you're raising a seed round or later-stage growth capital.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture
Industries of focus: Health Care, Health Diagnostics, Medical Device
Geographical presence: Boston, Massachusetts
Founded: 2008
Notable portfolio companies: Augmenix (acquired by Boston Scientific), Sera Prognostics (IPO), Kaleidoscope Innovation (acquired by Infosys)
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 has been backing entrepreneurs since 2012. They invest across seed, early, and late stages in sectors like healthcare, IT, and medical devices.
The firm's portfolio showcases a history of significant exits, including genomics leader Illumina and Artemis Medical, a breast-cancer device company acquired by Johnson & Johnson. This track record of guiding companies to successful M&A exits demonstrates their ability to support companies toward major liquidity events.
SpringRock is a good fit for founders seeking a long-term partner who can invest across multiple stages. Their experience is particularly relevant for medical device companies with ambitions for a major acquisition.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early and late-stage venture
Industries of focus: Health Care, Information Technology, Medical Device
Geographical presence: Seattle, Washington
Founded: 2012
Notable portfolio companies: Illumina, Aquantive (acquired by Microsoft), Artemis Medical (acquired by Johnson & Johnson)
Track record: 38 investments
You can refer to their website here.
14. StartUp Health
Since 2011, New York-based StartUp Health has been investing in what it calls a "global army of Health Transformers." The firm's mission is to achieve "health moonshots" by backing founders who are working to solve the world's biggest health challenges.
The firm has a broad, mission-driven focus, investing from seed to early-stage venture rounds and also providing grants. Their large portfolio includes companies like Bigfoot Biomedical, which has launched a smart insulin-pen system, and the women's health platform Tia.
StartUp Health is a great fit for early-stage, mission-driven founders in the health tech space. If you want to join a large, global community and are tackling a significant health problem, their network and focus could be highly valuable.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, early-stage venture, and grants
Industries of focus: Biotechnology, Health Care, Health Diagnostics, Medical Device, mHealth, Personal Health
Geographical presence: New York, New York
Founded: 2011
Notable portfolio companies: Bigfoot Biomedical, Tia, Cyclica (acquired by Recursion), Human API (acquired by Kyruus)
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 reveals a healthy and varied field of investors for the medical device sector. The good news for founders is that the funding environment is well-balanced across stages. Many firms support companies from seed rounds through to growth and exit, meaning you can find a long-term partner for your entire journey.
Geographically, there is a clear concentration of firms in life science hubs like Boston and California. At the same time, the presence of investors in other regions and a trend toward specialization in areas like AI and deep tech show that capital is available for strong companies with a solid technical foundation, regardless of location.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Raise Confidently with Rho
A focused list of investors saves you critical time and energy during a fundraise. We hope this guide helps you connect with the right partners for your medical device company.
When your fundraise is complete, the work of managing that capital begins. Rho can help you set up your financial stack in minutes.
Our platform offers integrated business banking, corporate cards, and automated bill pay. These tools are designed to help you manage and deploy your new capital efficiently.
FAQs about Venture Capital Firms Focused on Medical Device
What are the top locations for medical device VC firms?
Boston and the Bay Area are major hubs for medical device venture capital, with a high concentration of specialized firms. However, strong investors also exist in other regions, so don't limit your search geographically if you have a compelling company.
How do I find early-stage healthcare venture capital firms?
Use industry databases, attend healthcare investment conferences, and network with other founders. Our list is a great starting point, but also look for investors who have backed companies with similar technology or at a similar stage to yours.
What is the difference between biotech and medical device VC firms?
While there's overlap, biotech VCs often focus on drug discovery and therapeutics with long scientific validation cycles. Medical device VCs focus more on diagnostics, instruments, and health tech with different regulatory paths and commercialization models.
Are there global venture capital firms for medical devices?
Yes, many international firms invest in the US market, especially those from Europe and Asia. They often seek access to innovative companies and can provide pathways to global markets, bringing a different perspective and network to your startup.
How can Rho help after I raise capital?
Once your fundraise is complete, our platform helps you manage the new capital. We provide integrated business banking, corporate cards, and automated bill pay to help you deploy your funds efficiently. Get started with Rho.