Intuitive Ventures, a Sunnyvale, CA-based early-stage firm investing in companies reimagining the future of minimally invasive care, closed its second fund, at $150m. In conjunction with the announcement, Murielle Thinard McLane, Managing Partner, replied to our questions about the firm, the new fund, the portfolio, and shared with us some predictions about the future.
Hi Murielle, can you please tell us a bit more about you? What’s your background?
I joined Intuitive Ventures at the start of this year after a more than two-decades career as an executive in the life sciences and health tech worlds.
Can you introduce your firm?
Intuitive Ventures is focused on improving healthcare access and coordination, promoting precision diagnostics and interventions, and unlocking the potential of novel data. Just as our LP, Intuitive Surgical, pioneered robotic-assisted surgery, Intuitive Ventures is investing in opportunities to move the ecosystem of minimally invasive patient care forward. With $250 million in total assets under management, our global focus spans diagnostics, medtech, therapies and digital health.
Which is your overall strategy (geo/amount/sectors)?
We invest in early-stage founders across the globe who are creating transformative value across three key areas:
- Access and coordination: lowering the barriers to healthcare by driving efficient, cost-effective, accessible and coordinated care
- Precision diagnostics and interventions: leveraging the convergence of medtech, life sciences, and therapeutics to drive precise diagnostics and interventions
- Secure, enriched digital ecosystems: unlocking the potential of novel healthcare data to enhance minimally invasive care
Beyond capital, how do you support startups?
We provide our portfolio with unique market insights, deep engineering and technical expertise, and extensive clinical and regulatory knowledge. Our personal experience as former executives, engineers and physicians – combined with our LP’s success story – offers our founders a real-world roadmap to success, and access to hard-won knowledge of the health tech ecosystem, its customers, business models and care delivery innovation.
What do you like to see in founders?….And what don’t you like to see in them? I mean, is there something which impresses you at a first glance?
We’re focused on identifying great companies that are transforming their field in a meaningful way. Above all else, we seek out solid teams of people who are passionate about their work and committed to building companies that will improve people’s lives and stand the test of time.
Please, tell us a bit more about the portfolio. You can list five startups their path have made you particularly proud of.
Since launching in 2020, we’ve invested in a variety of startups that are re-imagining minimally invasive care, including these five transformative companies:
- Flywheel.io, which is pioneering the future of medical imaging data management and analysis. This summer, they raised over $54 million in Series D funding and in November announced their collaboration with Microsoft and NVIDIA to Propel End-to-End AI Development Platform on Microsoft Azure.
- KelaHealth, which provides an AI-enabled surgical intelligence platform to deliver patient-specific, predictive insights at key decision points. They recently completed a 12-month study with the Duke University Medical Center, which showed how the company’s surgical intelligence platform leads to a reduction in acute kidney injuries and readmissions after colorectal surgeries.
- MedCrypt, which provides data security as a service to medical device OEMs. They recently raised their Series B funding, bringing the company’s total funds raised to date to $36.4M. In October, Medcrypt won the Digital Health Award for Patient Safety at the HLTH conference.
- Neocis, which is transforming dental implant surgery with advanced robotics. The Yomi Neocis robot is the first and only FDA-cleared robotic system for dental surgery.
- SURGE Therapeutics, which is dramatically improving cancer patient survival by disrupting how, when and where cancer immunotherapy is deployed. The company received FDA clearance of its IND application to proceed with a Phase 1/2a study of its intraoperative immunotherapy and has dosed its first few patients. In July, they raised $32 million in Series B funding.
Which sector/s would you bet 2 cents in the next five years?
- Maturation of personalized medicine: Convergence of precision diagnostics, treatment and prognostics for various of clinical indications from oncology, gynecology to metabolic disease management
- Picks and shovels that focus on enabling secure, connected and automated interventions