Peregrine Ventures raises more than $115m MedTech fund

The Israeli venture capital fund will invest in early stage and late stage rounds of startups.
By Tammy Lovell
Share

Israeli MedTech venture capital fund Peregrine Ventures has just closed its fourth fund, Peregrine 4, raising $115m.

Peregrine 4 will continue to invest in early stage and late stage rounds of medical technology startups.

Its partners include some of the leading institutional and private equity investors from Israel, the US, Europe and Australia. 

WHAT THEY DO

Peregrine Ventures has been at the forefront of medical, biotech, and life science investments in Israel since 2001.

The team concentrates on all stages and sectors of the MedTech industry, with a special focus and unique expertise in early seed investments.

Peregrine Ventures also owns and operates the Incentive Incubator, which is considered one of the most successful in Israel based on standards such as follow on investments and exits. 

It is among the first incubators established as a partnership with the Israeli Innovation Authority and focuses on incubating the most promising Israeli MedTech startups.

Peregrine now has more than $199m under management, and an equal amount available for co-investment, follow-on and late stage investments in its portfolio companies from Peregrine 1, 2 and 3.

As well as giving financial support, Peregrine Ventures, is involved in finding and selecting startups with the greatest chance of success, mentoring them, developing marketing and sales strategies, and leveraging their relationships in order to bring their products to market.

WHAT IT’S FOR

The team has invested in and helped to develop numerous successful companies in the fields of therapeutic single product use devices, digital health, pharma, food-tech and diagnostics, including Valtech Cardio, Memic, CartiHeal, Cordio, Neovasc, Eximo and Magneto.

MARKET SNAPSHOT

Meanwhile, Anglo-Swedish drugmaker AstraZeneca announced last month that it is launching an initiative that will see the company invest in Israel’s growing digital health space.

Israel-headquartered MDClone, maker of a Synthetic Data Engine for healthcare, announced in August that it has raised $26m (€23.5m) in a Series B funding round led by aMoon, a VC fund focused on health tech and life sciences.

A recent study from Start-Up Nation Central identified nearly 540 digital health companies in Israel, where the healthcare system has been paperless for around 20 years now.

ON THE RECORD

Eyal Lifschitz, managing partner at Peregrine, said: “There is a huge demand, and opportunity, in medical technologies in Israel and foreign investors recognise this.

“We chose to limit the Peregrine 4 fund to €103 million since we believe this is the size that best suits our management team and abilities to find the best opportunities and take an active role in helping them achieve their goals.”