Octopus Ventures launches £100m HealthTech fund

Octopus Ventures has announced the launch of £100m fund targeted at early-stage HealthTech companies.

The firm intends to raise the funds with parent company Octopus Group as cornerstone investor.

The expansion includes hiring a new team from TenX Health: Joe Stringer, Dr Pooja Sikka and Shamik Parekh.

The appointments will bring a wealth of experience and large networks in the digital healthcare space, Octopus Ventures said.

Previous to joining Octopus, Stringer and Sikka were founding members of EY Ventures, leading the health and social care portfolio.

Octopus Ventures said the move will enable their investors to accelerate their coverage of the sector and to transform public healthcare systems across Europe and the emerging markets.

The team will manage the new fund, which aims to accelerate healthcare technology into global health systems and directly to consumers that need better access to healthcare.

It will focus on Series A funding, reserving capital to follow up throughout the growth rounds.

Emma Davies also recently joined Octopus Ventures as Co-chief executive, bringing over 20 years of institutional fund management expertise.

The company announced in October that it was to launch a new specialist consumer team and scaled its portfolio team by 45 per cent with nine new hires.

Octopus Ventures’ said recent announcements signal their intention to dial up investment activity in high impact sectors, despite the market uncertainty.

Alliott Cole, co-chief executive of Octopus Ventures, said:“Covid-19 has doubled the pace of growth in healthcare technology.”

“Joe, Pooja and Shamik’s arrival and the launch of the fund puts us in an even stronger position to take advantage of the investment opportunities that are emerging from the pandemic as the digital healthcare revolution continues.”

She added: “We now have one of the largest teams backing those entrepreneurs that are radically rethinking how healthcare can be delivered – across Europe as well as expanding our footprint into emerging markets.”

“We are delighted to cornerstone this new fund and look forward to providing investors with an opportunity to access this global growth market.”

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