415 Capital Management GmbH raised an undisclosed amount at the first close of its 415 Capital Fund I.

The German venture capital firm is targeting $100 million at the final close of the vehicle later in 2020.

The new fund will invest in medical device companies, focusing on startups developing technologies to treat cardiovascular diseases and associated risk factors, across Europe, Israel and the U.S.

415 Capital Fund I received capital from European Investment Fund, KfW Capital, several family offices and medical technology entrepreneurs. The firm's founding partners also invested capital amounting over 20% of the current fund size.

The vehicle is supported by InnovFin Equity. It also received financial support from the European Union's Horizon 2020 financial instruments and European Strategic Investment Partnership established under the Investment Plan for Europe.