Endeavour Vision closes Endeavour Medtech Growth II LP at USD375m to invest in transformative healthcare technologies
Endeavour Vision has closed Endeavour Medtech Growth II (EMG II) at USD375 million in capital commitments. The fund will pursue the same strategy as its predecessor: to support growth-stage medtech and digital health innovations that advance the standard of care and bring efficiencies to healthcare systems.
Both new and returning investors supported EMG II LP, including public pension funds, multi-manager funds, family offices and high-net-worth individuals. EMG II LP builds on Endeavour Vision’s two decades of healthcare investing, which to date has included over USD500 million invested in 42 companies – 21 of which have exited via an acquisition or IPO.
The fund’s closing comes as the world begins to look towards post-pandemic life after more than 12 months in the grip of Covid-19, a crisis that has accelerated the adoption of new healthcare technologies including novel ways of delivering remote patient care. Underlying trends, such as ageing populations, chronic diseases and strained healthcare budgets will continue to fuel demand for cost-efficient solutions. Therefore, healthcare innovation is set to remain a long-term priority that is expected to generate attractive growth and a diverse set of opportunities for investors. The fund has already supported seven companies with investments totalling more than USD100 million: IntelyCare, CeQur, Rapid Micro Biosystems, SOPHiA GENETICS, Nalu Medical, Lumeon and Relievant Medsystems.
“Governments, citizens and investors are now more aware than ever of our healthcare systems’ strategic importance and current limitations,” says Bernard Vogel, Co-Founder and Managing Partner, Endeavour Vision. “This is accelerating the demand for pioneering solutions that can deliver sustainable healthcare. As such, EMG II LP’s timing could not be better. We want to thank the fund’s investors for their confidence in our team and strategy. In backing the bright future of this fast-growing, dynamic industry, our investors will also benefit from seeing the direct impact of their investments on people’s lives.”
“As a responsible investor working on behalf of UK Local Government Pension Schemes, we focus on seeking sustainable, long-term, risk-adjusted value to the pension scheme members through opportunities that provide a positive contribution to society,” says Nicholas Hinchliffe, Investment Director, Private Equity Investments, Local Pensions Partnership Investments. “Healthcare and health technology offers such an investment profile and helps diversify our client portfolios, and by investing in this vibrant sector through Endeavour Vision’s EMG II LP, we are able to access developments in ground-breaking clinical treatments.”
Endeavour Vision is one of the largest international investment teams focused on medtech and digital health. The firm partners with game-changing companies, actively supporting them beyond capital, with strategic and operational expertise to enable their global success.
“Medical technology and digital health are truly unique within the healthcare sector because they offer the opportunity to invest in companies in the early stages of commercialisation and before major value-inflection milestones, yet still at attractive valuations,” says Damien Tappy, President and Managing Partner, Endeavour Vision. “As recognised industry experts on both sides of the Atlantic, we are excited about the massive accelerated transformation of healthcare delivery over the next decade and the leading role Endeavour Vision can play in this.”