Venture capital remains one of the cornerstones of Europe’s innovation landscape, fuelling the growth of startups across every sector. In our last list, we spotlighted 15 VC firms focused on sustainability, underlining how investors are shaping the future of sustainability. This article continues that series, turning the focus toward another critical area of investment.
Healthcare and life sciences are fields where venture capital plays an especially vital role. From biotech and medtech to digital health, specialised VCs are backing ambitious founders who are tackling some of the most pressing medical challenges of our time. Their funding, expertise, and networks not only accelerate growth but also help transform scientific breakthroughs into practical solutions for patients worldwide.
Today, we highlight 10 leading European VC firms driving healthcare innovation. These investors are shaping the next generation of therapies, medical devices, and healthtech solutions, reinforcing Europe’s position as a hub for life sciences.
Asabys Partners: Based in Barcelona, Asabys Partners is a venture capital firm specialising in early-stage biotech, medtech, and healthcare innovation projects. Founded in 2018, the firm invests across health-tech and biopharma, backing transformative technologies in Spain and internationally. Its mission is to push the boundaries of science and medicine through the sourcing and financing of disruptive solutions and by collaborating with leading industry experts.
Asabys Partners typically invests from pre-seed to growth stages, with ticket sizes ranging from €1 million upwards. The firm manages multiple funds and has built a portfolio of more than 30 companies, with successful exits already recorded. Notable investments include Splice Bio, INBRAIN Neuroelectronics, Quibim, and SafeHeal. By combining capital with hands-on support and strategic guidance, Asabys has become one of the leading healthcare-focused venture investors in Southern Europe.
Calm/Storm: Based in Vienna, Calm/Storm is a community-focused pre-seed and seed investor as well as a boutique founder network. The fund backs entrepreneurs at the earliest stages, particularly in SaaS, marketplaces, consumer products, and healthtech, with a dedicated focus on femtech and tabootech. Beyond capital, Calm/Storm emphasises community building, knowledge-sharing, and founder well-being, investing in solutions that improve health and quality of life.
Initial ticket sizes range from €100K to €500K, with capacity for follow-ons. Since its founding in 2020, Calm/Storm has backed over 75 startups and established itself as a key early partner for founders in Austria and across Europe. Its philosophy centres on empowering entrepreneurs through lifelong learning, personal growth, and access to an exclusive network of experienced founders, making it a trusted early partner for ambitious startups in Austria and across Europe.
Forbion: Headquartered in Naarden (Netherlands), Forbion is a global venture capital firm focused on advancing biotechnology and sustainable innovations. With €5 billion under management across 11 funds, Forbion backs companies that address critical challenges in human health and planetary health, combining financial return with positive societal impact. Its strategy integrates ESG principles into investment decisions, aiming to support breakthroughs that benefit both patients and the planet.
Founded in 2006, the firm manages a range of specialised funds, including Forbion Ventures VII (€890 million), Forbion Growth Opportunities Fund III (€1.2 billion), and Forbion BioEconomy I (€180 million). Its portfolio includes biotech innovators such as Azafaros, developing therapies for rare genetic diseases, and VectorY, pioneering vectorised antibody treatments for CNS disorders.
Gilde Healthcare: Headquartered in Utrecht with offices in Frankfurt and Boston, Gilde Healthcare is a specialised investor managing over €2.6 billion across two strategies: Venture & Growth and Private Equity. Founded in 1982, the firm backs companies that enable better care at lower cost, with investments spanning digital health, diagnostics, medical devices, therapeutics, healthcare providers, and service suppliers.
With more than 90 active portfolio companies and 40 exits, Gilde Healthcare combines deep sector knowledge with hands-on guidance. The firm typically invests up to €35 million in a single company, leveraging its transatlantic team of healthcare specialists to accelerate growth. Recent activity includes strategic acquisitions in medical imaging and neuroscience, as well as investments in disruptive medtech and therapeutics.
HealthCap: Founded in 1996, HealthCap is a European venture capital firm dedicated to life sciences, with offices in Stockholm and Lausanne. The firm has raised eight funds and backed over 130 companies globally, supporting the development of breakthrough therapies and medical technologies for diseases with high unmet medical need. Its focus areas include rare diseases, oncology, and genetic disorders, where innovation can transform clinical practice and significantly improve patient outcomes.
Over the years, they have financed more than 130 portfolio companies, supported over 45 IPOs across 14 markets, and helped bring 34 pharmaceutical products and 50 medical devices to approval. Collectively, these innovations have treated more than 5 million patients worldwide. With deep medical expertise and a strong industrial network, HealthCap combines capital with active involvement, often taking board seats and guiding companies from early development through IPOs and trade sales.
Medicxi: Founded in 2016 and headquartered in London, Medicxi is a European venture capital firm focused on the life sciences sector. The firm was created by the former Index Ventures life sciences team, bringing over two decades of experience in drug discovery and therapeutic development. Medicxi is backed by major strategic investors, including GlaxoSmithKline, Johnson & Johnson Innovation, Novartis and Verily (Alphabet).
The firm follows an “asset-centric” model, creating and backing biotech companies from the discovery stage through clinical proof-of-concept, and later supporting ventures into pivotal trials and regulatory approvals. While deal sizes vary, Medicxi typically participates in multi-million-euro rounds, with recent investments ranging from early seed tickets to growth-stage financings above €100 million. With this approach, Medicxi has become a key player in advancing therapies for areas of high unmet medical need across Europe and North America.
Nina Capital: Operating from Barcelona, Nina Capital is a specialist VC firm exclusively dedicated to healthtech. It invests in early-stage companies across Europe and globally, focusing on digital health solutions and technologies that enable better healthcare delivery.
Typical investments range from €100K to €1 million. With its sector-specific expertise and international reach, Nina Capital bridges the gap between healthcare innovators and markets, helping its portfolio companies grow into impactful ventures.
Sofinnova Partners: Headquartered in Paris, Sofinnova is one of Europe’s leading venture capital firms focused on life sciences. Founded in 1972, it specialises in backing biotech, medtech, and digital health companies across all development stages, from seed to later rounds.
The firm manages multiple funds and typically starts with tickets from €1 million upwards. With over 500 investments made, Sofinnova has helped build global leaders in healthcare innovation and continues to play a major role in Europe’s biotech success stories. Today, Sofinnova Partners has over €4 billion under management.
Ysios Capital: Founded in 2008 and headquartered in Barcelona and San Sebastian, Ysios Capital is one of Spain’s leading independent venture capital firms focused exclusively on life sciences. The firm backs early- and mid-stage biotech companies developing disruptive therapeutic products and platform technologies, with the ambition of addressing high unmet medical needs. With over €400 million in assets under management, Ysios has already helped bring more than 15 medical products from lab to market and has supported over 40 products in clinical development.
The firm typically invests tickets between €5 million and €15 million, with reserves for follow-on rounds. Its international team combines scientific, financial, and entrepreneurial expertise to support portfolio companies in scaling globally. By funding transformative biotech ventures across Europe and the US, Ysios Capital has established itself as a major driver of medical innovation and a key player in strengthening Spain’s biotech ecosystem.
Wellington Partners: Headquartered in Munich with additional offices in London, Zurich, and Palo Alto, Wellington Partners is one of Europe’s leading venture capital firms with more than €800 million under management. Founded in 1998, the firm invests across technology and life sciences, with a strong track record of helping entrepreneurs scale internationally. Its sector focus spans medtech, diagnostics, therapeutics, biotech, software, digital media, and industrial technologies.
Wellington typically leads rounds ranging from €0.5 million to €20 million, with commitments of up to €15 million depending on company maturity. To date, it has invested in more than 100 companies across Europe, backing both breakthrough innovations and scalable business models. Beyond capital, Wellington provides its portfolio with access to strategic guidance, an international network, and hands-on support, making it a long-standing partner in building European success stories.
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Read the orginal article: https://www.eu-startups.com/2025/09/capital-meets-care-10-venture-capital-firms-transforming-healthcare-across-europe/
