14 Medical Device Venture Capital Firms To Partner With

For founders in the medical device and MedTech space, knowing which investors understand your field is a critical first step when preparing to raise capital. The right partner brings more than just funding; they offer specialized knowledge of the life sciences and health technology sectors.

To help with your search, our team has curated this overview of top medical device venture capital firms. Use this guide to quickly identify relevant investors for your startup before or during your fundraising process.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• Securing venture funding provides the capital needed for long development cycles, clinical trials, and complex regulatory approvals that are common for medical device startups.
• Venture capital firms like SV Health Investors, LRVHealth, Third Rock Ventures, and Creative Ventures are notable backers of startups focused on medical devices.
• Once you've secured funding, Rho helps you manage your capital with integrated tools for business banking, corporate cards, and bill pay.

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

Whether your company is in its early stages or preparing for an exit, knowing which investors to approach is critical. This is a quick overview of medical device VC firms and the stages where they typically invest.

Pre-seed and Seed VC Firms in Medical Device

Pre-seed and seed funding is the initial capital used to validate an idea, build a prototype, and establish early market fit. For founders at this stage, health tech venture capital firms like SmartGateVC and Creative Ventures specialize in backing new companies, while StartUp Health invests in a broad portfolio of early-stage startups.

Early Stage VC Firms in Medical Device

Early-stage funding, typically Series A and B, helps companies with a proven product scale operations and grow their market presence. After a successful raise with early-stage VC firms like LRVHealth, Vertex Ventures HC, or Catalyst Health Ventures, Rho’s integrated platform helps you manage the new capital with tools for banking, corporate cards, and bill pay.

Late Stage VC Firms in Medical Device

Late-stage venture capital is for established companies preparing for significant growth, a potential acquisition, or an initial public offering (IPO). As you approach this phase with investors like Third Rock Ventures, HLM Venture Partners, or Kaiser Permanente Ventures, Rho Capital can also connect you with non-dilutive financing like venture debt to extend your runway.

Some venture capital firms also invest across all funding stages, providing support from a company's inception through to its exit.

To help you identify the right investors, we've compiled information on the top VC firms in the medical device sector. The following list covers their investment stages, locations of focus, and what distinguishes each firm.

1. SV Health Investors

With a history dating back to 1993, SV Health Investors is a Boston-based firm that concentrates on the biotechnology and healthcare industries. They provide capital to companies in the life sciences, including those developing new medical devices.

The firm is distinguished by its broad investment strategy, supporting companies from seed stage through to post-IPO and private equity. Their portfolio highlights a history of building market leaders, with notable exits including telehealth platform Amwell and insulin-pump developer Insulet Corporation.

SV Health Investors may be a good match if you are a founder in the biotech or medical device sector looking for a long-term financial partner. Their capacity to invest across multiple funding stages means they can offer support as your company grows.

• 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: American Well (Amwell), Insulet Corporation, Achillion Pharmaceuticals
• 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 founded in 2000 by a team of healthcare industry veterans. Their "Inside Healthcare" approach is built on deep operational experience, providing portfolio companies with direct access to a network of industry insiders.

The firm invests across seed, early, and late stages, with a focus on enterprise and medical device companies. Their portfolio includes notable successes like Current Health, a remote patient-monitoring startup acquired by Best Buy, and Phreesia, a patient-intake platform that went public.

LRVHealth is a strong partner for founders who value strategic guidance from experienced healthcare operators and advisors. As you grow with an investor like LRVHealth, Rho Capital can also provide access to non-dilutive financing to complement your equity rounds.

• Investment stages: Seed, early, and late-stage venture
• Industries of focus: Health Care, Medical Device, Enterprise, Security
• Geographical presence: Boston, Massachusetts
• Founded: 2000
• Notable portfolio companies: Current Health, Phreesia, GetWellNetwork
• Track record: 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 builds and invests in life science companies with significant growth potential. The firm is known for its hands-on approach, often creating companies from the ground up around major scientific discoveries in biotechnology, healthcare, and medical devices.

Their portfolio includes high-profile companies like Sage Therapeutics and gene-editing pioneer Editas Medicine, making them a good fit for founders with ambitious, science-first ideas. As you prepare for your next round, Rho Capital can also connect you with non-dilutive financing options like venture debt to extend your runway.

• Investment stages: Seed, early and late-stage venture, 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
• Track record: 143 investments and 41 exits

You can refer to their website here.

4. Creative Ventures

Creative Ventures is an Oakland-based firm that invests in early-stage deep tech companies. They focus on startups addressing major global challenges, from healthcare and climate to food and construction.

The firm backs companies across a wide range of industries, including medical devices, robotics, and advanced materials. They primarily support seed and early-stage ventures, with notable exits like the AI-powered smart cart company Caper, which was acquired by Instacart.

Creative Ventures is a good fit for founders using deep technology to solve fundamental problems in established industries. After securing funding from a firm like Creative Ventures, our integrated platform can help you manage your new capital with tools for banking, corporate cards, and bill pay.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Deep Tech, including Health Care, Medical Device, Robotics, Advanced Materials, and Clean Energy
• Geographical presence: Oakland, California
• Founded: 2016
• Notable portfolio companies: Caper, Sense Photonics, 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 capital firm with offices in Southern California and Armenia. The firm invests in companies building on new frontiers opened up by artificial intelligence, with a focus that includes life sciences and medical devices.

The firm’s investment thesis is centered on deep tech and AI, backing companies in sectors from bioinformatics to human-computer interaction. Their portfolio includes recognized AI companies like Krisp, known for its noise-cancellation app, and SuperAnnotate, a data-annotation platform.

SmartGateVC is a strong choice for founders at the earliest stages whose business is built around a core AI technology. After securing seed funding, 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
• Industries of focus: Artificial Intelligence, Bioinformatics, Health Diagnostics, Medical Device, Cyber Security
• 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 founded in 1999. They invest across the life sciences, with a focus on pharmaceuticals, biotechnology, and medical technology companies.

The firm supports companies from their earliest stages through to the public markets, as shown by their seed-to-post-IPO investment strategy. Their portfolio features significant exits, including the acquisition of HeartWare International by Medtronic and the IPOs of Akero Therapeutics and Stoke Therapeutics.

Founders with ambitious life science or medical device companies seeking a long-term partner may find Apple Tree Partners to be a good fit. As you scale with an investor like this, Rho Capital can also provide access to non-dilutive financing to complement your equity rounds.

• Investment stages: Seed, early and late-stage venture, post-IPO
• Industries of focus: Pharmaceuticals, Biotechnology, Medical Device, Healthcare Services
• Geographical presence: New York, New York
• Founded: 1999
• Notable portfolio companies: Akero Therapeutics, Stoke Therapeutics, HeartWare International
• 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. The firm invests across a wide range of stages, from seed and venture rounds to private equity.

The firm is characterized by its flexible investment mandate, backing companies in sectors from medical devices and pharmaceuticals to financial services. Their portfolio includes notable companies like cancer-drug developer Cullinan Oncology and fusion-energy company Commonwealth Fusion Systems.

Schooner Capital may be a good fit for founders seeking a long-term financial partner with the capacity to support a company across different growth stages. As you scale with an investor like Schooner, Rho Capital can also connect you with non-dilutive financing to extend your runway without additional equity.

• Investment stages: Seed, early and late-stage venture, private equity
• Industries of focus: Medical Device, Pharmaceutical, Financial Services, Media and Entertainment
• Geographical presence: Boston, Massachusetts
• 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

As the corporate venture capital arm of the integrated health system Kaiser Permanente, this firm invests in companies that are shaping the future of healthcare. They focus on businesses in the health care, medical, and medical device sectors.

What makes the firm different is its direct connection to one of the nation’s largest healthcare providers, offering portfolio companies valuable strategic insights. Their investments in digital health leaders like Headspace Health and Omada Health show a focus on technology that improves patient outcomes.

Kaiser Permanente Ventures is a good match for founders who would benefit from a strategic partnership with a major health system. As you approach later funding stages with an investor like this, Rho Capital can connect you with non-dilutive financing to extend your runway.

• Investment stages: Early and late-stage venture, private equity, debt
• Industries of focus: Health Care, Medical, Medical Device
• Geographical presence: Oakland, California
• Founded: 1945
• Notable portfolio companies: Headspace Health, Omada Health, Oxford Immunotec
• Track record: Over 116 investments and 34 exits

You can refer to their website here.

9. Modi Ventures

Modi Ventures is a Houston-based firm that invests in companies building for "the next frontier." They provide capital to startups in deep tech sectors, including AI, healthcare, and medical devices, across seed, early, and late stages.

The firm's focus is on businesses with a strong scientific or technical core, highlighted by investments in AI-chip maker Groq and biotech unicorn Generate Biomedicines. Their approach appears centered on backing high-growth companies that are creating new markets or technologies.

This firm is a good match for founders whose companies are built on a core AI or deep tech innovation, particularly in the life sciences. After securing a round with an investor like Modi Ventures, our platform helps you manage the new capital with integrated tools for banking, corporate cards, and bill pay.

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

You can refer to their website here.

10. HLM Venture Partners

HLM Venture Partners is a Boston-based firm that has been investing in healthcare technology companies since 1983. They focus on businesses in the health care, information technology, and medical device sectors.

The firm supports companies across their entire lifecycle, from seed funding through to post-IPO stages. Their portfolio includes major industry names like Teladoc and Tandem Diabetes Care, showing a track record of backing companies that become market leaders.

HLM Venture Partners is a good fit for founders in health tech who are looking for a long-term partner with deep industry experience. As you scale with an investor like HLM, Rho Capital can also connect you with non-dilutive financing to extend your runway.

• 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
• Track record: 134 investments and 48 exits

You can refer to their website here.

11. Vertex Ventures HC

Vertex Ventures HC is a Palo Alto-based firm that invests in biopharmaceuticals, medical devices, and digital health companies. Since its founding in 2014, the firm has focused on supporting businesses that are advancing healthcare.

The firm shows a clear preference for companies built on deep scientific research, backing pioneers in areas like gene-amplified cancer therapies and glyco-immunology. Their portfolio includes clinical-stage companies like Neuspera Medical, which is developing miniaturized neuromodulation implants.

Vertex Ventures HC is a good choice for founders with a strong scientific or clinical background who are developing novel therapeutic platforms or devices. As you scale with an investor like Vertex, Rho Capital can also provide access to non-dilutive financing to complement your equity rounds.

• Investment stages: Early and late-stage venture
• Industries of focus: Biopharmaceuticals, Medical Device, Digital Health
• Geographical presence: Palo Alto, California
• Founded: 2014
• Notable portfolio companies: Boundless Bio, Palleon Pharmaceuticals, 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 funds companies developing solutions for significant unmet needs in healthcare. Since 2008, they have focused on the medical device and health diagnostics sectors.

The firm is defined by its strategy of backing companies from their early stages through to major exits, such as the acquisition of Augmenix by Boston Scientific. Their portfolio shows a focus on businesses with clear clinical applications and commercial potential.

Catalyst Health Ventures is a good partner for founders with a well-defined product addressing a specific medical challenge. After securing a round with an investor like Catalyst, our platform helps you manage the new capital with integrated tools for banking, corporate cards, and bill pay.

• 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, Sera Prognostics, Kaleidoscope Innovation
• 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 backs entrepreneurs in evolving industries. Since its founding in 2012, the firm has focused on companies in health care, information technology, and the medical device sector.

The firm is defined by its history of guiding companies to major exits, including the acquisition of breast-cancer device maker Artemis Medical by Johnson & Johnson. Their portfolio also includes genomics leader Illumina, showing a focus on backing companies with long-term growth potential.

SpringRock Ventures is a good match for founders in health tech or IT who are looking for a partner with a record of successful exits. As you scale with an investor like SpringRock, Rho Capital can also connect you with non-dilutive financing to extend your runway.

• 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, Artemis Medical, Aquantive
• Track record: 38 investments with notable exits to companies like Microsoft and Johnson & Johnson

You can refer to their website here.

14. StartUp Health

StartUp Health is a New York-based firm that invests in a global portfolio of early-stage companies. Their mission is to back "Health Transformers" who are working to solve major, long-term challenges in healthcare.

The firm is distinguished by its large-scale approach, having invested in nearly 400 companies across a wide range of health sectors. Their focus on "health moonshots" signals a commitment to ambitious, mission-driven founders, with notable portfolio companies including women's health platform Tia and diabetes-management startup Bigfoot Biomedical.

StartUp Health is a good fit for founders at the seed or early stages whose companies have a clear, long-term vision for improving health outcomes. Once you secure funding from an investor like this, our integrated platform can help you manage the new capital with tools for banking, corporate cards, and bill pay.

• Investment stages: Seed and early-stage venture
• Industries of focus: Broad healthcare, including Medical Device, Biotechnology, Digital Health, and Health Diagnostics
• Geographical presence: New York, New York
• Founded: 2011
• Notable portfolio companies: Tia, Bigfoot Biomedical, Cyclica, Human API
• Portfolio size: 390 investments
• Track record: 33 exits

You can refer to their website here.

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

The venture capital support for medical device companies is both deep and varied, with options available for founders at nearly every stage. Many firms on this list provide capital from a company's inception through to its exit, which is valuable in a field with long development cycles. You'll also find investors who specialize in the earliest seed and Series A rounds, indicating a well-balanced environment for fundraising.

While there is a strong concentration of firms in established life science hubs like Boston and California, the presence of investors in other regions shows a broad interest in the sector. After you secure funding, our integrated platform helps you manage the new capital with tools for banking, corporate cards, and bill pay, so you can focus on your next milestones.

Raise Confidently with Rho

When you're raising capital, your time is your most valuable asset. A focused list of relevant investors allows you to direct your energy where it matters most, especially in a demanding field like medical devices.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. We help you access financing tailored to your business model without chasing lenders.

Once capital is secured, our integrated tools help you manage it effectively. Rho provides business banking, corporate cards, and automated bill pay to help you deploy funds efficiently and focus on growth.

FAQs about Venture Capital Firms Focused on Medical Device

Which US cities are hubs for medical device venture capital firms?

Boston and the San Francisco Bay Area are major centers for life science and medical device VCs. You'll also find a significant number of specialized healthcare investors in cities like New York, San Diego, and Minneapolis.

What do VCs look for in a medical device startup?

Investors prioritize a strong intellectual property portfolio, a clear regulatory pathway with the FDA, and a large addressable market. They also want to see a founding team with deep clinical or technical expertise in the field.

What is the difference between corporate and traditional VCs?

Traditional VCs primarily seek financial returns. Corporate VCs, often the investment arm of a large company, also look for strategic value, such as access to new technology or markets that align with their core business.

How do I find the right medical device VC firm for my startup?

Research firms that invest in your specific stage and sub-sector. Analyze their portfolio to see if they have experience with similar technologies and seek warm introductions through your network for a better response rate.

How can I manage my funds after a successful raise?

After securing capital, our integrated platform helps you manage it effectively. Rho provides business banking, corporate cards, and automated bill pay to help you deploy funds efficiently and focus on growth.

How can Rho help me with fundraising?

If you are actively raising, Rho Capital can connect you with non-dilutive financing options like venture debt. Our guided process helps you access capital tailored to your business without giving up additional equity.