List of the 400 largest Medical Device Venture Capital Investors [2025]

List of 3 large medical device venture capital investors

The medical device industry plays a critical role in advancing healthcare, offering innovative solutions that improve diagnosis, treatment, and patient outcomes. As healthcare technology evolves, investor interest in medical devices continues to grow rapidly. In this article, we spotlight five notable venture capital firms from our VC list that are actively backing startups and innovations in the medical device sector.

1. Activate Venture Partners (USA)

Activate Venture Partners is a New York-based venture capital firm specializing in early-stage investments in tech-enabled healthcare and applied technology companies. With a history dating back to 1999, the firm has supported over 100 companies, contributing to more than 45 successful exits, including notable IPOs such as Medidata and Tabula Rasa Healthcare.
In the medical device sector, Activate Venture Partners has invested in companies such as Micro Interventional Devices, which develops catheter-based technologies for treating structural heart diseases. Additionally, their portfolio includes companies whose medical devices have been utilized in over 9 million procedures annually, highlighting their significant impact in the healthcare industry.

2. Polar Light Ventures (Switzerland)

​Polar Light Ventures is a Swiss-based venture capital firm specializing in seed-stage technology investments across Europe and the United States. The firm focuses on supporting exceptional entrepreneurs developing highly scalable business models. One notable investment is in Skin Analytics, a UK-based company that developed DERM, an AI-powered tool for skin cancer detection. In February 2025, DERM received the EU’s first Class III CE mark for an autonomous AI medical device, marking a significant milestone in AI-driven diagnostics.​

3. Fountain Healthcare Partners (Ireland)

​​Fountain Healthcare Partners is a Dublin-based venture capital firm specializing in life sciences, with a strong focus on medical devices. In March 2025, the firm led a €10 million Series B financing round for Neuromod Devices, an Irish company developing Lenire, a non-invasive neuromodulation device for tinnitus treatment. The funding aims to accelerate Lenire’s commercialization in the US and Europe, including expanding its availability through the US Department of Veterans Affairs.​

Picture Source: Unsplash

Included information in our list

Our keyword analysis-based list includes the following general columns:

• Name of the VC fund
• Country of origin
• URL
• E-mail (general)
• Investment focus (if data available)
• Corporate VC (yes/no)The following columns are based on the keyword crawler, which is a Python-based, in-house developed tool that crawls every page for at least 45 seconds to find the respective keywords.
  • total_frequency (e.g.: 1110) – total counted occurrences of keywords on the VC website
  • average_keyword_rate (e.g. 0.03) – average rate of keyword occurrences per subpage in relation with total number of words
  • most_common_keyword (e.g. „medical devices“) – keyword that was counted the most often on respective VC website
  • most_common_keyword_frequency (e.g. 841) – number of times the most common keyword was counted
  • sub_url_highest_rate (e.g. https://www.lumiraventures.com/portfolio/#) – sub url with the highest number of found keywords
  • highest_rate (e.g. 0.08) – highest keyword rate per subpage
  • frequency_per_keyword: {‘medical devices’: 230, ‘healthcare device’: 21} – dictionary of number of keyword occurrences per keyword