Gilde Healthcare has closed its Gilde Healthcare V fund, a $450 million venture and growth capital fund.

The new fund, which was oversubscribed, targets growth opportunities in the healthcare sector including digital health, medtech and therapeutics in Europe and North America.

The fund was set up to enable improved care at affordable cost within private healthcare companies.

Gilde Healthcare V was raised in a single close and is backed by international investors including banks, pension funds, fund-of-funds, sovereign funds, endowments, family offices, entrepreneurs and Gilde partners.

Disclosed investors include Royal Philips and Rabo Corporate Investments from The Netherlands, HANIEL and KfW Capital from Germany, BNP Paribas Fortis Private Equity and Belgian Growth Fund, Danish Growth Fund and the European Investment Fund from Luxembourg.

Pieter van der Meer, managing partner of Gilde Healthcare, said: “The healthcare landscape in Europe and the US is changing rapidly, driven by the need for more patient centric care and more focus on value-based care.”