Mérieux Innovation 2 (MI2)

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.

Investment Focus

Location / RegionFrance

Funding StagePre Seed

Industry Focus

Digital Health

Investor Signals Profile

active

Sweet Spot

European healthcare/life sciences company ready for PE-backed scale

healthcare

life sciences

European buyout

deep sector expertise

regulated markets

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

Contrarian Signals

Buyout stage — not early VCexternal

Highly regulated niche — slow cyclesexternal

Market recalibration flagged as key challengelinkedin

Increasingly specialized, competitive marketlinkedin

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

Founder Don'ts

Avoid generalist, non-healthcare pitches

Don't underestimate regulatory complexity

No early-stage pre-revenue plays

Key GPs & Partners

Jean-François Billet

Managing Partner – Head of Buyout

sector expertPE operatorhealthcare focused

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Fund Overview

Fund Size€150M

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Website

Key People

Valérie Calenda, Yoann Bonnamour

Jean-François BilletManaging Partner – Head of Buyout