Million Lives Fund Secures $100 Million to Help Healthcare Tech Startups as Company Tries to Live Up to Name

By Thomas Price Tuesday, March 23, 2021

Following over a year of dealing with the COVID-19 pandemic, different companies are looking for creative healthcare solutions and technology which can help prevent health-based problems. The Million Lives Fund is a company that recently made a major commitment to the healthcare tech industry. The company just announced a $100 million venture fund that will be specifically investing in health tech businesses.

A piggy bank filled with coins and a first-aid kit on top.

Million Lives Fund Newest Venture Capital Fund

The Million Lives Fund is a company with a direct focus on investing in businesses that are developing technology for the healthcare industry that could help save lives. The name for the company comes from the explicit goal set at its founding to save 1 million lives every single year by 2030 through the support of the proper technology and businesses. Nearly 50% of all deaths that occur around the world today are considered to be either premature or completely preventable. The company looks to curb that as best as possible.

The health tech fund’s newest $100 million capital will be the first in company history, though it is not the first business that has been supported by it. The Million Lives Fund already supports four different businesses in the healthcare tech industry. These businesses include Aloe Care Health, which creates voice-activated medical alerts; Arrive Solutions, which has created an emergency response platform to increase cardiac arrest survival rates; equitable cervical cancer screening company MobileODT; and emergency data exchange company RapidSOS.

The health tech fund plans to further expand its support moving forward as more businesses begin reaching a commercially viable stage in the development of its technology.

Plans for Distribution and Investment

With $100 million, the Million Lives Fund has significant capabilities to support and expand upon many different healthcare tech fields. The venture fund plans to invest in 15 to 20 different companies with commercial-stage technology by putting anywhere between $1 million and $10 million into the business throughout the process. The Million Lives Fund will also partner with global health organizations, governments, and the larger investment community to ensure the money is spent both diversely and efficiently.

The health tech fund was both established and supported by the Laerdal family and the companies created by the family, Laerdal Medical and Laerdal Global Health. The family has made strong efforts to support health and wellness through their own businesses and privately, with the Million Lives Fund representing their biggest undertaking yet.

When commenting on the establishment of the Million Lives Fund, Managing Partner for the company Jeff Trost said, “With their support, the Million Lives Fund will be able to further accelerate this mission. We are intently looking for the most passionate entrepreneurs, founders and teams who share our commitment to solving the world's most important health challenges. We believe these innovations can deliver measurable improvements in healthcare, while at the same time producing superior financial returns for our investors.”

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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