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In Europe, Contrarian VC Wellington Partners Favors Medical Devices

In September, Wellington Partners announced that it closed on €70 million ($91 million) in new venture capital, the first commitment for a fund devoted to life science investing. The target size of Wellington Partners IV Life Science Fund is €120 million, a significant increase over its previous fund devoted to the life sciences, which raised €78 million. Five years ago, this event wouldn’t even have been news, but in a world where venture capital funds are generally contracting, and specifically with regard to life sciences, Wellington offers medical device start-ups a bright spot of hope.

At a time when venture capitalists are steering away from the medical device sector, the decision by venture firm Wellington Partners Venture Capital GMBH to raise €120 million ($155 million) for a new fund, Wellington Partners IV Life Science Fund, to be invested heavily in devices is noteworthy. In September, Wellington closed on the first €70 million in new venture capital. The new fund represents a significant increase over its previous €78 million fund.

Wellington’s announcement comes at a time when many investors are fleeing the life sciences, and a large percentage of those...

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