Lauxera Capital Partners, an asset management firm focused on healthcare technology, announced the final closing of the second growth equity fund, Lauxera Growth II. The fund closed at €520 million (US$605 million), surpassing its €500 million hard cap, nearly doubling the previous fund raised in 2021.
The fundraising took less than 18 months from first close to final close, signifying the strong investor appetite for Europe’s healthtech market. The fund retained more than 90% of its existing LP investor base, while simultaneously securing new institutional capital from North America, Latin America, the Nordics and the DACH region. Notable LPs include EIF, supported by pension funds, endowments and family offices.
Targeting the European Innovation Disconnect
Lauxera, with a presence both in Paris and San Francisco, is positioned to be the “transatlantic” bridge for health tech scale-ups. Its overarching investment thesis highlights a structural gap on the continent between research and application. European institutions produce 250 health tech innovations per capita compared to 5,100 in the US, but there is an insufficiently developed growth equity infrastructure to support their scaling into global markets.
Source: Lauxera Capital Partners
Fund II will seek to narrow the gap by deploying notable capital into commercial-stage firms. Fund II aims to have a portfolio of about 12–15 companies, with ticket sizes ranging from $20m to $50m per deal. Lauxera organizes these investments as either minority growth equity or growth buyouts. The fund targets businesses operating across several specific healthtech sub-sectors, including:
- Medical Devices and Advanced Medtech
- Digital Health, Healthcare Software, and Data Platforms
- Pharma Services and Bioprocessing Tools
- Life Science Diagnostics and Imaging
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A Proven Model for Global Expansion
Lauxera focuses on preparing European companies for expansion into the US, the largest and most lucrative healthcare market. Lauxera integrates financial investment with former healthcare operators and experts to guide companies through US regulatory approvals, commercial scaling, and channel partnerships.
Fund II momentum was significantly increased by a major liquidity event from Lauxera’s first fund. In October 2025, the Japanese medical giant Terumo Group acquired OrganOx, a UK-based normothermic machine perfusion company backed by Lauxera Growth I, for approximately $1.5 billion. The high-profile exit served as a validation of Lauxera’s strategy of identifying European clinical innovations and accelerating their global market adoption.
Active Deployment Already Underway
Lauxera has begun deploying Fund II, securing positions in companies with technical defensibility, clinical necessity, and international scalability. Early investments include Acandis, a German neurovascular device maker, and Antaros Medical, a Swedish imaging research organisation serving global pharmaceutical companies.
As an EU SFDR-classified sustainable fund, Fund II aims to reduce healthcare ownership costs and improve patient outcomes. Some of Fund II’s carried interest will fund rare paediatric genetic disorder research at the Institut Imagine in Paris.
With the closing of Fund II, Lauxera Capital Partners now manages over $1 billion in total assets. The newly secured capital positions the firm to remain a dominant financier in the lower-middle-market healthcare technology space across Europe and North America
