Fund profile / France

Mérieux Innovation 2 (MI2)

Geography: France
Stage: Pre-Seed
Fund size: €150M
Focus: Digital Health
Signals: Published

N°01 / About

About Mérieux Innovation 2 (MI2)

Mérieux Innovation 2 (MI2) is a venture capital firm based in France, focusing on Pre-Seed stage investments. The fund actively supports founders building innovative solutions in Digital Health, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionFrance

Funding StagePre-Seed

Industry Focus

Digital Health

Investor Signals Profile

active

Sweet Spot

European healthcare lower midmarket with international ambition & strong mgmt

healthcare

life sciences

European buyout

deep sector expertise

regulated markets

lower midmarket

diagnostic innovation

medical devices

minimally invasive surgery

cardiology devices

Bullish Signals

Active at major healthcare PE symposiumsexternal

Deep European healthcare sector focusexternal

Speaker at McDermott Healthcare Symposium Parislinkedin

Leaning into accelerating innovation themeslinkedin

Committed partner for European healthcare scalelinkedin

MP5 first closing €335m in 4 monthslinkedin

€600m target fund demonstrates LP confidencelinkedin

Mérieux Institut network leverage for portfolio coslinkedin

Backing university spinouts solving clinical workflowlinkedin

IPEM Global 2026 confirmed attendance Sept 8-10linkedin

Active investor/partner engagement at major conferenceslinkedin

TC & JC actively recruiting founders at IPEM 2026linkedin

€80m HighLife Medical co-led with Sofinnova/Anderalinkedin

Minimally invasive cardiology device investment — unmet needlinkedin

Backing CE Mark approved devices with US expansionlinkedin

Contrarian Signals

Buyout stage — not early VCexternal

Highly regulated niche — slow cyclesexternal

Market recalibration flagged as key challengelinkedin

Increasingly specialized, competitive marketlinkedin

Portfolio company (Prothea) still in development/pre-clearedlinkedin

HighLife still requires post-market study — clinical risk remainslinkedin

Founder Do's

Show deep healthcare domain knowledge

Have strong management team in place

Operate in regulated healthcare segment

Demonstrate execution capability

Show adaptability to market recalibration

Align with 4 strategic pillars (Prevention/Innovation/Cure/Care)

Target €10-50m EBITDA range (lower midmarket)

Solve real clinical pain points (e.g., diagnosis speed)

Connect at IPEM Global & major conferences

Direct outreach to TC/JC at IPEM 2026

De-risk with CE Mark or regulatory clearance

Partner with established syndicate (Sofinnova, Andera, etc.)

Founder Don'ts

Avoid generalist, non-healthcare pitches

Don't underestimate regulatory complexity

No early-stage pre-revenue plays

39 signals on Mérieux Innovation 2 (MI2)

15 bullish · 6 contrarian · 12 pitch do's · 3 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€150M

Saves0

Website

People

Key People

Valérie Calenda, Yoann Bonnamour

Jean-François BilletManaging Partner – Head of Buyout

Thierry ChignonPartner

Jean ChatillonPartner

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