Octopus Ventures ended this month with amazing news about their future aspirations. A whole new team with ambitious approach and a global fund of €112.5 million, in order to achieve ascendancy of the health tech market.
The whole investment, which is targeting around €112.5 million, will be imbued in the outset of health tech businesses. The fund’s centre of attention will be on Series A, reserving capital to follow on throughout the growth rounds. Octopus group aims to boost healthcare technology into global health systems and rise the healthcare access to a next level.
The new team of Octopus makes this purpose very clear and also feasible in the near future with their proficiency in the rapidly developing health tech market. This incredible team is from TenX Health, well-experienced in digital healthcare. Two of them, Joe and Pooja were formerly founding members of EY Ventures, leading the social and health care profile.
Commenting on the news, Alliott Cole, Co-CEO of Octopus Ventures, said: “COVID-19 has doubled the pace of growth in healthcare technology. Joe, Pooja and Shamik’s arrival and the launch of the fund puts us in an even stronger position to take advantage of the investment opportunities that are emerging from the pandemic as the digital healthcare revolution continues. We now have one of the largest teams backing those entrepreneurs that are radically rethinking how healthcare can be delivered – across Europe as well as expanding our footprint into emerging markets. We are delighted to cornerstone this new fund and look forward to providing investors with an opportunity to access this global growth market.”
Joe Stringer, founding member of EY Ventures, and now part of Octopus Ventures said: “Octopus is one of the most active technology investors in early-stage companies in Europe and already has a strong track record in backing pioneering entrepreneurs that are changing the way healthcare is delivered. This breadth of experience, combined with the group’s outstanding fund management platform, makes it an exciting partner for us to accelerate our plans to support the revolution we are seeing in digital health through the new fund. Coronavirus has put immense pressure on our healthcare systems and has been a catalyst for the mass adoption of tech to help improve patient care. This change is here to stay and with that comes an opportunity to develop meaningful health tech that can really make a difference to the lives of millions around the world.”
Dr Pooja Sikka, also a founding member of EY Ventures, and now part of Octopus Ventures added: “Combined with the growth potential in technology and the positive social impact of the sector, digital health has swung sharply into the spotlight. There is a massive opportunity to back businesses that can really make a difference to the way healthcare is delivered to the benefit of patients across Europe and the emerging markets. We are looking forward to unlocking this potential with our new fund, building on Octopus’ reputation as one of Europe’s leading VCs and its mission to achieve impact at scale and pace.”
Even though the ongoing COVID-19 crisis, which is also making the digital health care market very unstable, Octupus Ventures’ determination to invest in this high impact sectors is on the point. This is new opportunity to access the growth potential business offer at the heath care market.