Fund will invest in commercial-stage health technology companies focused on developing and deploying technologies capable of improving and extending lives around the world.
Tech companies focused on expanding healthcare access and education, as well as improving global healthcare quality and outcomes, now have a hundred million new opportunities for support. A $100 million San-Francisco venture capital fund has been launched by the Million Lives Fund to back such endeavors.
With the goal of helping to save 1 million lives each year by 2030, the Fund will invest in commercial-stage companies developing and deploying technologies capable of improving and extending lives through:
- Medical education innovations
- Remote patient monitoring solutions
- Tech-enabled care models
- Predictive analytics tools
- Clinical decision support solutions
The Million Lives Fund will invest in 15 to 20 companies with its first fund, according to a news release. It will lead or syndicate with other investors, investing $1 million to $10 million into each company over the life of the investment.
"By partnering with global health organizations, the broader investment community, governments, and other stakeholders, the Million Lives Fund seeks to efficiently invest in companies that touch as broad and diverse of a population as possible, regardless of demographics or geography," the release said.
The inaugural fund was established by the Norwegian Laerdal family and its operating companies, primarily Laerdal Medical and Laerdal Global Health, which have a history of supporting global health initiatives.
“We are intently looking for the most passionate entrepreneurs, founders, and teams who share our commitment to solving the world’s most important health challenges," said Jeff Trost, managing partner of the Million Lives Fund, in the announcement. "We believe these innovations can deliver measurable improvements in healthcare, while at the same time producing superior financial returns for our investors.”
Among the companies The Million Lives Fund has already supported:
- Aloe Care Health: An advanced voice-activated medical alert and communication system for older adults and caregivers
- Avive Solutions: Developer of a next-generation emergency response platform aimed at significantly increasing survival rates from sudden cardiac arrest
- MobileODT: An AI-powered mobile device capable of providing equitable and standardized access to cervical cancer screening
- RapidSOS: An emergency response data exchange providing life-saving information to 911 and emergency response systems.
“There is a widening gap of healthcare inequity across the globe," said Ingrid Laerdal, chief impact officer at Laerdal. "We believe the focus of technological innovation in healthcare and medical education needs to ensure equitable access for all populations. With its strategic investments in innovative technology companies, the Laerdal Million Lives Fund sees a future where education and the right care can be delivered to any person and patient, at the right time, anywhere in the world.”
“We are intently looking for the most passionate entrepreneurs, founders, and teams who share our commitment to solving the world’s most important health challenges.”
Jeff Trost, managing partner, Million Lives Fund
Mandy Roth is the innovations editor at HealthLeaders.
KEY TAKEAWAYS
The Million Lives Fund will invest in 15 to 20 companies with its first fund.
Investors are seeking companies offering solutions that address global healthcare quality and outcomes.