MACSF is a French mutual insurance group and institutional investor for healthcare professionals that allocates capital to startups and non-listed companies. It is most relevant to founders in HealthTech, life sciences, biotechnology, pharmaceuticals, medical AI, insurance and adjacent regulated sectors, with activity from seed through Series B/later-stage venture rounds and at least one co-led investment. MACSF primarily focuses on France, with supported investment activity also in Spain and the United States.