PA MedTech VC Fund

PA MedTech VC Fund

PA MedTech VC Fund operates out of Pfäffikon, Switzerland, providing institutional and high-net-worth investors concentrated exposure to early-stage medical device opportunities sourced exclusively from Shifamed, the Silicon Valley-based incubator founded by serial entrepreneur Amr Salahieh. The fund's structure solves a specific access problem: Shifamed portfolio companies historically raise from a tight circle of venture insiders, and PA MedTech routes European and select global capital into those rounds through a dedicated vehicle managed by Picard Angst, who maintains the primary sourcing relationship. The portfolio is anchored by cardiovascular device companies — a direct reflection of Shifamed's core engineering competency in structural heart, where it has generated exits to Medtronic and other strategics in prior cycles. Confirmed positions include Caisson Interventional, developer of a transcatheter mitral valve replacement platform, and Supira Medical, which builds a percutaneous ventricular assist device for high-risk PCI patients. The fund allocates across Series A through late-clinical rounds and constructs concentrated positions rather than broad index-style exposure, typically making commitments to between five and ten portfolio companies per vintage. Geography is concentrated in North America, specifically the medical device cluster spanning Silicon Valley and Minneapolis. Picard Angst runs the operation from Pfäffikon, supported by a lean team that handles diligence and investor relations for primarily Swiss and European limited partners. Total fund size and deployment figures are not publicly disclosed. In May 2024 the firm participated in the $40 million Series D extension for Supira Medical, led by Cormorant Asset Management with continued support from Shifamed and other existing investors, signaling ongoing follow-on capacity in the fund's current vehicle. The structural differentiator is exclusive access: PA MedTech is not a generalist MedTech fund screening thousands of companies annually. It funnels LP capital into a single, curated pipeline — the Shifamed incubator portfolio — which imposes a disciplined origination model unavailable to allocators seeking direct co-investment in these specific companies through traditional channels. This concentrated sourcing arrangement carries obvious diversification trade-offs but appeals to investors who prioritize alignment with a proven device incubator over portfolio breadth.