Million Lives Fund announces $100m venture capital fund to invest in commercial-stage healthtech companies
The Million Lives Fund announced the launch of a $100 million venture capital fund that will invest in companies using technology to expand healthcare access and education, and improve healthcare quality and outcomes globally. With the ambitious goal of helping to save 1 million lives each year by 2030, the Million Lives Fund will invest in commercial-stage companies developing and deploying technologies capable of improving and extending lives, including medical education innovations, remote patient monitoring solutions, tech-enabled care models, predictive analytics tools and clinical decision support solutions.
The inaugural fund is established by the Laerdal family and its operating companies, primarily Laerdal Medical and Laerdal Global Health, which bring a long history of and commitment to improving survival rates and supporting good health and well-being globally. Last year, Laerdal underscored its commitment to leveraging technological innovation to save lives, outlining its 2030 goals in the book, "One Million Lives."
Jeff Trost, Managing Partner, Million Lives Fund: "We are proud to represent the initiative of the Laerdal family, who is fiercely dedicated to providing technologies and solutions capable of eliminating preventable and avoidable deaths around the globe. With their support, the Million Lives Fund will be able to further accelerate this mission. 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. We believe these innovations can deliver measurable improvements in healthcare, while at the same time producing superior financial returns for our investors. Today nearly 50% of all deaths are premature and preventable. We are on a mission to invest in companies that we believe can reduce these mortality rates. Our strong ties with the Laerdal family, their companies and their long-established connections in the global health community add tremendous value to the companies in our portfolio."
The Million Lives Fund has been actively building its portfolio, already backing four companies that align with its core values:
- Aloe Care Health,The world's most 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 (SCA).
- MobileODT, An AI-powered mobile device capable of providing equitable and standardized access to cervical cancer screening.
- RapidSOS, The world's first emergency response data exchange providing life-saving information to 911 and emergency response systems.
The Million Lives Fund will invest in 15 to 20 companies with its first fund. It will lead or syndicate with other investors, putting anywhere from $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.
Ingrid Laerdal, Chief Impact Officer, Laerdal: "There is a widening gap of healthcare inequity across the globe. 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."