Spex Capital, an early-stage investor in healthtech solutions, has launched the Spex Venture HealthTech Fund. With a target size of €100 million, the closed-end fund will invest globally in early-stage healthtech ventures, from seed to Series A, up to €5 million.
The fund is a designated Article 9 impact fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR).
Founded by serial healthtech entrepreneur, Claudio D’Angelo, Spex Capital has closed 10 investments in this space, as it looks to broaden its investment into founders with the vision to back the innovators in healthcare.
Through an exclusive two-year partnership with MedCity, the life sciences cluster organisation for London, Spex Capital benefits from connections to the NHS in England and reach across the wider ecosystem. Joint activities include an international investment programme that contributes to the flow of around 1,000 healthcare companies developing breakthrough technologies every year.
Claudio D’Angelo, founder and CEO of Spex Capital, said: “Even before COVID-19, the drive for countries to make better use of digital technology in healthcare had already begun. With this fund, our partnership with MedCity, and a broad network of high calibre senior advisors, we will have unparalleled access to invest in the best start-ups within this space.”
Spex Capital’s reach will also be bolstered by the appointment of Brent Stackhouse, the managing director of Mount Sinai Ventures, to the team. Stackhouse has a wealth of experience from his time investing in the US healthcare system and will offer a strong springboard for the overseas expansion of the companies the fund will invest in.
Brent Stackhouse, senior partner, Mount Sinai Ventures, said: “I’m excited to take part in the launch of the Spex Venture HealthTech Fund at a time of radical change for the healthtech sector. History has shown us time and time again that economic downturns provide an impetus for innovation and that some of the strongest vintages have come from recession years. We now have an opportunity to acquire high quality assets at discounted valuations. We look forward to shaping the global healthcare ecosystem by helping innovators in developing ground-breaking technologies and solutions to overcome healthcare challenges worldwide.”