Investment firm Spex Capital and London’s life sciences cluster organization MedCity have opened their first joint call as part of their exclusive partnership to identify and fund the next generation of digital health and medtech innovators. Applications are invited from early-stage health-tech ventures with solutions to problems faced by healthcare systems globally. Interested companies can complete their applications for seed or series A rounds by October 27th, 2021.

The call comes against the backdrop of the pandemic, which has accelerated the use of digital health solutions and diagnostics devices. MedCity will use its extensive networks and expertise to attract and assess applications from companies developing breakthrough digital health tech and medtech. Spex Capital will look to invest up to a max of £5 million per target company, with the average ticket expected to between £500k and £2 million. Successful applicants will also benefit from access to advisory teams with deep sector experience.

Guidance on the process and criteria for investability are outlined at this link. Applications are made via a secure, dedicated portal, which is live here.

Founded in 2021 by serial health tech entrepreneur Claudio D’Angelo, London-based Spex Capital has a portfolio of six high-growth heath-tech companies. The firm launched with a team of sixteen, comprising seven investment team members, seven senior advisors and two venture partners. It aims to address the funding gap which is largely overlooked by institutional and professional investors. In the words of Claudio D’Angelo: “We want to see innovative products and services being delivered for patients.This partnership will bring companies to potential investment and play an important role in creating a lively ecosystem, consistently with our mission to accelerate the healthcare digital revolution.”

Leading from the MedCity side to source and evaluate viable candidates is COO Nicki Bromwich. She has 30 years’ experience as a clinician in the NHS and served as Head of Commercial Development at Oxford AHSN before joining MedCity. Nicky Bromwich views this call as amplifying MedCity’s role in catalysing the growth of life science companies: “Together we are tackling one of the biggest challenges for SMEs in this sector – raising finance to support the development and acceleration of the technology into the healthcare system”.

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