Private capital still betting on medtech as VC shifts to late-stage deals

Medtech private investment is increasingly polarized, as record funding for scaled platforms comes at the expense of early-stage innovation, which is struggling to keep pace. Public markets have reemerged as the sector’s main exit engine, with a wave of IPOs offsetting muted... See more

The state of VC in 2025. Where we are, where we are going, and where to invest ... https://t.co/NvOOYzeEpG https://t.co/cbXha8w19L

You can trace the shift cleary through three eras:

1. Venture Capitalism (pre-2008)
   
   
   • Alpha driven by : Risk and discovery.
   
   
   • Example : Early Google, Genentech, small funds, asymmetric bets.
   
   
   • Purpose : Generate outsize returns on investment.


2. Venture Developmentalism (2008-2020)
   
   
   • Alpha driven by : Coordination under the state.
   
   
   • Example : Uber, Airbnb,

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