The new venture fund HERAN HealthTech Fund I with focus on MedTech and Digital Health, launched in January, completes a first investment round of 45 million euros in less than 6 months. A mix of institutional investors, family offices and private investors are convinced that the future of our healthcare sector will be determined by MedTech and Digital Health. The Covid-19 crisis has accelerated the need for revolutionary solutions in this segment.
Investment focus at the crossroads of technology, data and health more relevant than ever
Through their many years of experience in the sector, the founders of HERAN Partners were convinced that the combination of data, technology and the right analyses would significantly determine the future of our healthcare sector. The expansion of Covid-19 only accelerated this trend. Several participations of HERAN HealthTech Fund I deliver significant added value to hospitals and healthcare providers in the rapid detection and treatment of Covid-19 patients. Icometrix in Leuven, for example, is working closely with numerous hospitals to bring the "icolung" AI-tool on the market. This AI-tool can quickly indicate what percentage of lung tissue is affected by Covid-19. This can help hospitals in the correct triage of Covid-19 patients faster. Ugentec, in turn, uses the Fastfinder software to provide solutions for analysing diagnostic tests up to thirty times faster. "The recent health crisis has made the high need for MedTech and Digital Health innovations even clearer. Many opportunities and accelerations are not only possible but also necessary. Several investors we contacted are convinced of the future prospects and added value. We are therefore very pleased to raise 45 million euros in this unprecedented time for home-grown start-ups and scaleups. This will enable them to make the difference in healthcare worldwide," says Katleen Vandersmissen, Managing Partner of HERAN Partners.
Strong team, successful portfolio and promising pipeline creates great interest in the investor market
The investment strategy is very much appreciated by many investors. Institutional investors such as PMV, but also family offices and private investors share the conviction that there are great opportunities on the cutting edge between medical applications and data. The experience and scientific knowledge of the hands-on team convinced many entrepreneurs to participate in this growth story. "I am immensely honored that a lot of investors have put their trust in us. This allows us to give our various homegrown MedTech and Digital Health pearls more oxygen to reform our healthcare. In this way, we can also further open up the unique Belgian ecosystem. The great interest of our investors proves once again that the combination of data and technology will further determine the future of our healthcare. In the meantime, the dealflow list has also grown well and we have already made a first selection of promising companies", says Annie Vereecken, Founding Partner of HERAN Partners.
Venture fund continues to build on 7 strong participations
Today the portfolio already consists of 7 participations - Ugentec, Icometrix, Bluebee, Ontoforce, Lynxcare, Pharmafluidics and Fox Biosystems. These participations, at the intersection of technology and data, have been brought into HERAN Health Tech Fund I, allowing them to be managed within the same professional structure.
In total, HERAN HealthTech Fund I aims to raise between 50 million euros and 65 million euros from various private and institutional players, of which the first 45 million have already been completed. The fundraising will continue for some time and HERAN Health Tech Fund I hopes to complete it before the end of 2020. Within this timeline, HERAN is already planning a first addition in the form of a startup or scale-up to the portfolio within the MedTech and Digital Health sector.
