Intuitive Launches $100m VC Fund

 

"Intuitive took quite a battering earlier this year, when the Covid-19 pandemic led to a 40% plunge in its shares in late March. Procedures performed on the da Vinci robot fell 19% worldwide in Q2 of 2020 compared to the year before, as elective procedures the world over were cancelled or postponed. But things are now looking up for the company after a respectable set of Q3 results and the launch of its first-ever capital fund and a new customer loyalty scheme.  

The Intuitive Ventures fund has launched with an initial offering of $100m, which the company aims to use to support companies developing minimally-invasive digital tools and platforms. The funding will also be available for adjacent companies working in diagnostic and therapeutic spaces.

The fund is open to companies both in Intuitive’s native US and internationally. Intuitive Ventures will provide resources and guidance to the companies it chooses to financially support, and the company says it has already started deploying capital.

In a public statement, Intuitive Ventures president Julian Nikolchev said: “The future of minimally invasive care spans the patient journey from early diagnosis to treatment and beyond. Intuitive Ventures is investing in cutting-edge innovation across the continuum of care to bring the future forward.” 

 Read more at Intuitive.

Source: Seeking Alpha, Medical Device Network