Lauxera's debut European healthtech growth fund raises approximately EUR100m at first closing
Lauxera Capital Partners, a newly created, international healthcare investment firm, announces that it has raised approximately EUR100 million for the first closing of Lauxera Growth I, its debut European HealthTech growth/buyout vehicle.
Despite Covid-19-related travel restrictions, the fund met this key fundraising milestone less than six months after launch. International institutional investors, strategics, and renowned family offices participated including Covea, Téthys, Compagnie Nationale à Portefeuille, Financière Dassault, Candriam (New York Life), and Bpifrance which invested off of its balance sheet and via its Growth Fund of Funds (on behalf of private insurers and the Caisse des Dépôts).
Lauxera Growth I is the first fund launched by Lauxera Capital Partners, a Paris-based investment management company. Lauxera was created in 2020 by three founding partners who have cumulatively deployed billions of euros supporting the international expansion of their HealthTechs and HealthTech portfolio companies:
• Pierre Moustial, former CEO of Urgo and Fournier Pharma, also Founder and “Président d'Honneur” of the industry association MedTech in France.
• Dr Samuel Levy, American/French physician and serial entrepreneur, founder of Allurion Technologies.
• Alex Slack, an American healthcare investor, formerly at Maverick Capital and Jackson Square Partners.
Lauxera’s team of investment professionals and company builders is present in Paris and San Francisco, spanning the two largest HealthTech end-markets in the European Union and the US. Lauxera brings global perspective, world-class talent management capabilities, and capital to its portfolio companies.
“The Covid-19 crisis has highlighted the weaknesses of our healthcare systems. Our goal is to disseminate innovations that improve the quality and robustness of healthcare delivery through Health Technology," says Pierre Moustial, co-founder of Lauxera. “Lauxera Growth I brings the experience, know-how, and capital necessary for the international development of companies and technologies that are capable of transforming our healthcare systems while creating sustainable economic, societal, and medical value.”
Lauxera brings decades of operational and commercial experience to each investment. “We back great managers and help them get the right talent onboard at the right time,” says Dr Samuel Levy, co-founder of Lauxera Capital Partners. “We know what a great marketing plan and great marketing leadership look like at EUR5 million of sales and at EUR500 million of sales. We aspire to be the first person a CEO calls when a challenge arises, because we’ve been there before, we don’t panic, and we’re solutions-oriented.”
In addition to providing US commercialisation support, Lauxera leverages its cross-Atlantic presence to connect portfolio companies with US capital markets.
“The US has the broadest and most mature investor base for HealthTech growth companies, including for European companies,” says Alex Slack, co-founder of Lauxera Capital Partners. “We build syndicates with US specialist investors who share our ambition to build category champions, enhancing the ability of our companies to access both private funding and the public markets.”
Last month, Lauxera finalised an investment in a German-American hospital software-as-a- service business which will be completed before the end of January.
“Healthcare innovation knows no geographic boundaries but needs deep pools of capital and hands-on operational experience to durably change clinical practice,” adds Pierre Moustial. “The transformational innovation we see in Europe today – robotic microsurgery, digitalisation of the operating room, additive implant manufacturing, machine learning on massive healthcare datasets – all these technologies will ultimately revolutionise medicine in Europe and around the world