Venture capital firm Cross-Border Impact Ventures (CBIV) has announced a US$58 million first close for its second vehicle, the Women’s and Children’s Health Technology Fund II.
The firm is aiming for a final target size of US$125 million, with a final close expected in 2027. Returning and new institutional investors provided commitments, including KfW on behalf of the German Federal Ministry for Economic Cooperation and Development, the Skoll Foundation through Capricorn Investment Group, Ceniarth, Equality Fund via RockCreek Group, Wire Group, family offices and high-net-worth individuals.
The new fund targets early-growth-stage deep tech startups at Series A or B stage. It focuses on businesses developing medical devices, diagnostics, therapeutics and AI-enabled digital health solutions that cater specifically or disproportionately to women and children. CBIV estimates its addressable sector represents a US$625 billion market today, which is projected to reach US$1.1 trillion by 2035.
CBIV’s inaugural US$90.3 million Fund I backed 11 technology firms spanning maternal and fetal health, neonatal care, cardiovascular disease, oncology, respiratory health, reproductive health and gut health. Fund I recorded a strategic exit and reached over 356,000 women and children across 32 countries.
In addition to expanding capital deployment, Fund II introduces an integrated climate lens into the firm’s investment screening process. CBIV has also strengthened its overall impact framework and plans to invest earlier in select high-potential businesses.
“Women’s and children’s health is one of the largest and most attractive opportunities in healthcare today,” said Annie Thériault, Managing Partner at Cross-Border Impact Ventures. “We’re seeing a convergence of scientific innovation, policy support and institutional capital that is accelerating the development of technologies with the potential to improve millions of lives. This is a true blue sky opportunity — one where competition remains limited, and the potential to generate outsized returns is significant. Fund I validated our investment strategy, and Fund II allows us to build on that momentum at a time when the market is ripe for investment.”
“Fund I reinforced what we’ve believed from the beginning: some of the most compelling investment opportunities in healthcare exist in areas that have historically received too little attention,” said Donna Parr, Managing Partner at Cross-Border Impact Ventures. “Advances in AI, diagnostics, medical devices and precision medicine are creating entirely new opportunities to improve care for women and children while building highly valuable companies. We’re seeing growing recognition from investors that financial returns and measurable health impact are mutually reinforcing.”
Key achievements across CBIV’s existing portfolio include the 2024 acquisition of AI fetal ultrasound software startup Sonio by Samsung Medison. Additionally, Cardiosense received US FDA De Novo approval for its heart failure software, mOm Incubators gained FDA clearance for its neonatal incubators, impacting 18,000 patients, and Daye launched a patented diagnostic tampon for HPV screening piloted by the NHS.
