Cross-Border Impact Ventures secured a $58 million first close for its second Women’s and Children’s Health Technology Fund, with commitments from KfW on behalf of the German Federal Ministry for Economic Cooperation and Development and the Skoll Foundation, and other institutional investors. The Toronto-based, health-tech venture capital firm is targeting a $125 million final close by 2027.
Cross-Border backs Series A and Series B companies developing medical devices, diagnostics, therapeutics and AI-enabled digital health technologies. For Fund II, the firm is eyeing earlier-stage companies and adding a climate impact lens.
“We’re seeing a convergence of scientific innovation, policy support and institutional capital that is accelerating the development of technologies with the potential to improve millions of lives,” said Annie Thériault, Managing Partner at Cross-Border Impact Ventures. “This is a true blue sky opportunity — one where competition remains limited, and the potential to generate outsized returns is significant.”
The firm’s inaugural $90.3 million fund backed 11 companies across maternal and fetal health, neonatal care, cardiovascular disease, oncology, respiratory health, reproductive health and gut health – including Daye, mOm Incubators, and Sonio, whose acquisition by Samsung Medison marked the firm’s first exit. Collectively, the portfolio has reached more than 356,000 women and children across 32 countries.
“Fund I reinforced what we’ve believed from the beginning: some of the most compelling investment opportunities in healthcare exist in areas that have historically received too little attention,” said Donna Parr, Managing Partner at Cross-Border Impact Ventures. “Advances in AI, diagnostics, medical devices and precision medicine are creating entirely new opportunities to improve care for women and children while building highly valuable companies.”
