Octopus Ventures听is planning a new听拢100 million global fund to invest in early-stage HealthTech companies.听
It has appointed听a听new team from TenX Health听鈥� Joe Stringer, Dr Pooja Sikka and Shamik Parekh 鈥� to capitalise on an听opportunity to transform public healthcare systems across Europe and emerging markets.听
Stringer听and听Dr听Sikka听were听formerly听founding members of EY Ventures, leading听its听health and social care portfolio.听
The听fund听will focus on Series A, reserving capital to follow on throughout the growth rounds.听听
Alliott听Cole,听co-CEO of Octopus Ventures, said: 鈥淐OVID-19 has doubled the pace of growth in healthcare technology.听听
鈥�Joe, Pooja and Shamik鈥檚 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.听听
鈥�We now have one of the largest teams backing those entrepreneurs that are radically rethinking how healthcare can be delivered 鈥� across Europe as well as expanding our footprint into emerging markets.听听
鈥�We are delighted to cornerstone this new fund and look forward to providing investors with an opportunity to access this global growth market.鈥�听
Stringer said: 鈥淥ctopus is one of the most active technology investors in early-stage companies in Europe and already has a strong track record in backing pioneering entrepreneurs that are changing the way healthcare is delivered.听听
鈥�This breadth of experience, combined with the group鈥檚 outstanding fund management platform, makes it an exciting partner for us to accelerate our plans to support the revolution we are seeing in digital health through the new fund.听听
鈥�Coronavirus has put immense pressure on our healthcare systems and has been a catalyst for the mass adoption of tech to help improve patient care.听听
鈥�This change is here to stay and with that comes an opportunity to develop meaningful health tech that can really make a difference to the lives of millions around the world.鈥�听
Dr Sikka added: 鈥淐ombined with the growth potential in technology and the positive social impact of the sector, digital health has swung sharply into the spotlight.听听
鈥�There is a massive opportunity to back businesses that can really make a difference to the way healthcare is delivered to the benefit of patients across Europe and the emerging markets.听听
鈥�We are looking forward to unlocking this potential with our new fund, building on Octopus鈥� reputation as one of Europe鈥檚 leading VCs and its mission to achieve impact at scale and pace.鈥�听
Emma Davies joined听Octopus Ventures as Co-CEO this month.听