Million Lives Fund is looking to curb mortality rates around the world with a new $100 million health tech focused venture fund. The fund is country-agnostic and is looking to invest in companies that can tackle common problems in healthcare, either through education, remote patient monitoring, predictive care models, other clinical decision-support tools or other tech-enabled means.

While managing partner Jeff Trost said the fund fits the digital-health nomenclature, he wants to be more specific about what it entails exactly.

“I’d like to start shifting away from digital health. It means a lot of things to a lot of people, but we really think of data-driven, software-driven business models that enable more efficient healthcare,” he told MobiHealthNews.

“We are not biotech investors. We are not going to invest in drugs and molecules. We’re not pure medical-device investors. We’re not going to invest in catheters and stents that don’t have a data component. We’re also not going to invest in heavy-service brick-and-mortar-first business. They have to be technology-first business models. They could be tech-enabled businesses, but we’re not going to finance building new hospital models in, say, Africa. That’s not a tech-first business.”

The fund is part of the Laerdal family’s initiatives. The family got its start in health in making CPR mannequins, but have expanded into medical devices and a global entity that focuses on developing regions.

“If mortality rates were suffering in a certain geography …. [we focus on] where are they suffering, and does the technology [that the startups] are developing apply to that broad population to achieve the largest lifesaving potential that we are striving for. In that respect we will invest anywhere in the world, so long as that technology fits the requirements to go after that mark,” Trost said.

The fund is expected to invest among 15 to 20 companies. Each company can land somewhere between $1 million and $10 million in investments.

Million Lives Fund has previously invested in a number of health tech companies, including Rapid SOS and Avive Solutions, which are both focused on boosting emergency responses.

WHY IT MATTERS

The new fund is part of the Laerdal family’s 2030 initiative to save one million lives. The idea is to solve for preventable deaths or disabilities.

"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," Trost said in a statement. "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 LARGER TREND

The digital-health space has certainly attracted its share of investors. In fact, in 2020 around $13.8 billion were poured into digital-health startups.

We’ve also seen an uptick in funds dedicated specifically to digital health. For example, Israel’s OTV is a venture capital firm dedicated specifically to digital health. In December the investor announced a $170 million fund.

Additionally, some of the better-known digital-health specific investors include Startup Health and Rock Health.