Spex Capital targets €100m for digital health deals

The London firm has also named Mount Sinai Ventures head Brent Stackhouse as a senior partner.

Spex Capital, a London-based venture capital firm, is seeking to raise €100 million for its early-stage healthcare technology fund.

The Spex Venture HealthTech Fund will make seed to Series A investments up to €5 million in digital healthcare and medical technology companies worldwide.

The firm already has a portfolio of six companies, according to its website. The portfolio includes Skin Analytics, which specializes in skin cancer screening; MediShout, which provides mobile and web-based healthcare reporting software; and Knok Healthcare, which offers a simplified telemedicine solution for virtual consultations.

Crédit Suisse is serving as administrator and One Fund Management SA will be the fund manager. Stibbe Avocats is providing legal counsel.

The fund is a designated Article 9 impact fund under the EU’s Sustainable Finance Disclosure Regulation.

“Even before Covid-19, the drive for countries to make better use of digital technology in healthcare had already begun,” Claudio D’Angelo, Spex Capital CEO, said in a statement. “With this fund, our partnership with MedCity, and a broad network of high caliber senior advisors, we will have unparalleled access to invest in the best start-ups within this space.”

Spex noted that the new fund will be bolstered by the appointment of Brent Stackhouse as a senior partner. “Stackhouse brings a wealth of experience as the head of the Mount Sinai Venture arm, and his exposure to the US health system and investor base, provides a springboard for the overseas expansion of our portfolio companies,” the firm said in the statement. “Stackhouse has considerable governance and exit experience, having closed and managed 26 investments and successfully exited eight companies at Mount Sinai Ventures.”

Before founding Spex, D’Angelo co-founded and managed Ryse Asset Management, a digital health and med-tech specialized VC.