VenstraMedical announced today that it secured an investment to accelerate the development of its percutaneous ventricular assist device (pVAD).
Highcroft Capital, a Minnesota-based venture capital firm specializing in medtech innovation, delivered the undisclosed investment. It supports the Newcastle, Australia-based company’s low-profile, full-flow pVAD system.
VenstraMedical designed its catheter-based pump to provide complete ventricular unloading for patients in cardiogenic shock or undergoing high-risk coronary interventions. Protected by eight issued patents, the device can collapse into a 9 Fr catheter for minimally invasive insertion. It can deliver up to 7 L/min of cardiac output once deployed to provide full ventricular unloading and hemodynamic stability.
“Support from experienced cardiologists and users of pVAD technology validates our approach and accelerates our path toward clinical trials,” said Dr. Martin Cook, co-founder and CEO of VenstraMedical.
VenstraMedical said the investment follows recently published findings for its system at TCT 2025. The company also picked up a $1 million grant from MTPConnect’s Targeted Translation Research Accelerator (TTRA) under Australia’s Medical Research Future Fund (MRFF).
According to the company, its technology aims to redefine standards in temporary mechanical circulatory support in a $2 billion market.
Several companies offer ventricular assist devices, including percutaneous, mechanical ones. Supira Medical earlier this year brought in $120 million to support its pVAD. Cardiac Booster also develops a pVAD and raised $10.3 million earlier this year.
Abbott dominates the left ventricular assist device (LVAD) space with its HeartMate 3 system. However, companies like Magenta Medical (pVAD), plus CorWave, BrioHealth and FineHeart (all LVAD) are looking to penetrate the market as well.
