Dexcom launches first VC fund
Medical device company Dexcom is launching its first venture fund. The San Diego-based company, one of a few competing for dominance in the market for continuous glucose monitors, plans to invest in technologies related to its core business and adjacent technologies.
Steve Pacelli, Dexcom’s executive vice president of strategy and corporate development, will lead Dexcom Ventures.
“While we have matured as a company over the years, we still consider ourselves to be a ‘start-up’ of sorts,” he said in a news release. “We feel well positioned to invest early and support our portfolio companies as they pioneer markets.’’
The new fund will specifically look to support initiatives in glucose sensing technologies and metabolic monitoring. Dexcom shared few details beyond that, but there should be plenty of opportunities, with a growing number of companies building digital solutions for diabetes and other metabolic conditions.
Just look at Dexcom’s past partnerships for some ideas: It struck a big partnership with digital health startup Livongo last year to integrate its CGM with Livongo’s software, and also has integrations with other digital health platforms, such as Welldoc, a startup with a digital heath product for people with Type 1 and Type 2 diabetes. Two years ago, Dexcom acquired TypeZero technologies, a startup making insulin delivery advisory algorithms.
“Driven by core technologies that our teams have developed internally, Dexcom continues to achieve strong growth and expand our future markets,” Dexcom CEO Kevin Sayer said in a news release. “By establishing Dexcom Ventures, we believe we can advance innovative technologies that enable better health outcomes and complement our growth opportunity. I have full confidence in Steve and his team as they lead this exciting new effort.”
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