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December 08, 2021 | Tom Ballard

SVB’s latest report predicts VC investment in global healthtech to reach $42 billion in 2021

Venture capital investment in global healthtech companies is projected to reach $42 billion by the end of the year, according to Silicon Valley Bank’s (SVB) latest report, “The Future of HealthTech.” The first three quarters of 2021 closed with what SVB called an astounding $34 billion invested globally across 1,040 deals.

U.S.-based virtual and hybrid care companies have raised more than $9.6 billion in 2021, and the report projects $3 billion in funding for U.S. mental health companies this year. The majority of funding (60 percent) came from 98 mega rounds, led by the largest mega-round in healthtech history: Devoted Health’s $1.2 billion Series D funding.

Jon Norris, Managing Director for Business Development in SVB’s Healthcare practice, said the robust activity in venture capital in the healthcare space is a function of excellent public markets and M&A activity in the past five-to-six years. “This produced great exit activity – and returns – and spurred venture funds to raise bigger funds in a faster time frame, so there is a lot of capital available,” he said. “In the last 18 months investment has surged even more as healthcare investment activity, both private and public, became the place to invest as all four sectors – biopharma, dx/tools, healthtech and medical devices – actively supported the response to the COVID-19 pandemic.”

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