At LSI Europe ’25, one of the more revealing conversations was not about a single therapeutic area, product category, or financing milestone. It was about portfolio construction itself. In a debate session titled “Including Medtech, Biotech, or Healthtech in Your VC Thesis,” investors from TVM Capital Life Science, Canaan Partners, Santé Ventures, Brightlands Venture Partners, and Unorthodox Ventures offered a candid look at how they think about risk, timing, capital efficiency, and long-term returns across healthcare. For founders trying to understand what different investors actually want, the discussion provided a sharp window into how medtech venture capital firms are making decisions in a more disciplined market. Moderated by Luc Marengere of TVM Capital Life Science, the panel made one thing clear early: there is no single right way to build a healthcare investment strategy. Some firms continue to back medtech as a core pillar. Others have stepped away from it at the earliest sta...
