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Investment firm Spex Capital has launched a fund to invest in health tech companies and is targeting a final close of €100m (£88.3m).
The health tech fund will see Spex Capital invest up to €5m (£4.4m) into tech businesses around the world at the seed to Series A stage.
“With this fund, our partnership with MedCity, and a broad network of high calibre Senior Advisors, we will have unparalleled access to invest in the best startups within this space,” Claudio D’Angelo, founder and CEO of Spex Capital.
So far London-based Spex Capital, founded by Claudio D’Angelo, has made 10 investments. They include Skin Analytics, LiveSmart and MediShout.
Spex Capital has entered a two-year agreement with the London life sciences cluster group MedCity, giving it access to NHS England.
Brent Stackhouse, managing director of Mount Sinai Ventures, said: “History has shown us time and time again that economic downturns provide an impetus for innovation and that some of the strongest vintages have come from recession years.
“We now have an opportunity to acquire high-quality assets at discounted valuations.”
Stackhouse will also join Spex Capital’s team. The Spex Capital follows the launch of a £70m deep tech fund by Amadeus Capital and Apex Ventures last week.