A balloon assembly for a transcatheter delivery device configured for implanting a medical device, comprising: an inflatable balloon having an inflated state and a deflated state, wherein the inflatable balloon in the deflated state comprises: a valve retaining portion having a generally cylindrical shape and one or more axial folds; a distal tapered portion connected to a distal end of the valve retaining portion, a proximal end of the distal tapered portion having a larger diameter than a distal end of the distal tapered portion and the valve retaining portion; a proximal tapered portion connected to a proximal end of the valve retaining portion, a distal end of the proximal tapered portion having a larger diameter than a proximal end of the proximal tapered portion and the valve retaining portion; a distal leg connected to the distal end of the distal tapered portion; and a proximal leg connected to the proximal end of the proximal tapered portion; wherein the distal tapered portion comprises one or more axial folds, the proximal tapered portion comprises one or more axial folds, wherein the proximal end of the distal tapered portion comprises a first radial fold connected to a second radial fold, the first and second radial folds (184, 185) forming a pocket extending distally at the proximal end of the distal tapered portion, and wherein the distal end of the proximal tapered portion comprises a radial fold that forms an obtuse or right angle relative to the valve retaining portion. an inflatable balloon having an inflated state and a deflated state, wherein the inflatable balloon in the deflated state comprises: a valve retaining portion having a generally cylindrical shape and one or more axial folds; a distal tapered portion connected to a distal end of the valve retaining portion, a proximal end of the distal tapered portion having a larger diameter than a distal end of the distal tapered portion and the valve retaining portion; a proximal tapered portion connected to a proximal end of the valve retaining portion, a distal end of the proximal tapered portion having a larger diameter than a proximal end of the proximal tapered portion and the valve retaining portion; a distal leg connected to the distal end of the distal tapered portion; and a proximal leg connected to the proximal end of the proximal tapered portion; wherein the distal tapered portion comprises one or more axial folds, the proximal tapered portion comprises one or more axial folds, wherein the proximal end of the distal tapered portion comprises a first radial fold connected to a second radial fold, the first and second radial folds (184, 185) forming a pocket extending distally at the proximal end of the distal tapered portion, and a valve retaining portion having a generally cylindrical shape and one or more axial folds; a distal tapered portion connected to a distal end of the valve retaining portion, a proximal end of the distal tapered portion having a larger diameter than a distal end of the distal tapered portion and the valve retaining portion; a proximal tapered portion connected to a proximal end of the valve retaining portion, a distal end of the proximal tapered portion having a larger diameter than a proximal end of the proximal tapered portion and the valve retaining portion; a distal leg connected to the distal end of the distal tapered portion; and a proximal leg connected to the proximal end of the proximal tapered portion; wherein the distal tapered portion comprises one or more axial folds, the proximal tapered portion comprises one or more axial folds, wherein the proximal end of the distal tapered portion comprises a first radial fold connected to a second radial fold, the first and second radial folds (184, 185) forming a pocket extending distally at the proximal end of the distal tapered portion, and