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HealthCap is a European venture capital firm founded in 1996, headquartered in Stockholm, Sweden. The firm focuses on investing in the life sciences sector, particularly in breakthrough therapies that address diseases with a high unmet medical need. Since its inception, HealthCap has raised nine funds, accumulating over EUR 1.2 billion in committed capital. The firm has financed more than 130 portfolio companies, leading to over 35 approved pharmaceutical products and 47 initial public offerings (IPOs).
HealthCap's investment strategy emphasizes collaboration with various stakeholders, including investors, the academic community, and patients, to ensure a responsible and sustainable investment approach. The firm operates primarily in Europe, with additional activities extending globally, particularly in the Nordic region. Notable milestones include the successful acquisition of companies like Actelion by Johnson & Johnson and the development of innovative therapies that have treated over 5 million patients.
HealthCap invests in companies that are developing targeted therapies for rare diseases, cancers, and genetic disorders. The firm emphasizes emerging therapeutics that have the potential to significantly improve patient outcomes. Their investment strategy is centered on precision medicine, aiming to develop tailored treatments for specific patient subgroups. HealthCap's focus on breakthrough therapies aligns with its mission to address high unmet medical needs in the life sciences sector.
The firm typically invests at various stages, including seed, Series A, Series B, and growth equity. HealthCap's check sizes are not publicly disclosed, but the firm has a strong track record of financing companies that lead to substantial market impact. The firm actively collaborates with its portfolio companies, providing not only capital but also strategic guidance and access to its extensive scientific and industrial networks.
HealthCap's portfolio includes a diverse range of companies in the life sciences sector. Notable companies include:
Overall, HealthCap has financed over 130 companies, many of which have achieved significant milestones, including market approvals and IPOs. The firm has a strong emphasis on companies that develop therapies for conditions with high unmet medical needs.
Björn Odlander, Managing Partner | MD PhD. Co-founder of HealthCap, he has extensive experience in the life sciences sector and has led numerous successful investments.
Mårten Steen, Managing Partner | MD PhD. Also a co-founder, he brings a wealth of knowledge in medical research and investment strategies.
Kristina Ekberg, Partner | LLM. She specializes in legal and regulatory aspects of healthcare investments.
Carl Kilander, Partner | MD PhD. He focuses on investment opportunities in biotechnology and has a strong background in clinical research.
Johan Christenson, Partner | MD PhD. He has expertise in medical technology and healthcare investments.
Staffan Lindstrand, Partner | MSc. He brings experience in operational management and strategic planning.
Per Samuelsson, Partner | MSc. He specializes in financial analysis and investment management.
Max Odlander, Partner | MSc. He focuses on market analysis and business development.
Alex Valcu, Partner | MSc. He has a background in venture capital and startup growth.
Daniel Karsberg, Partner | MSc. He specializes in healthcare investments and market strategies.
Anki Forsberg, Partner and Chairman | LLM MBA. She has extensive experience in corporate governance and strategic oversight.
Carl-Johan Dalsgaard, Venture Partner | MD PhD. He focuses on clinical development and regulatory affairs.
Eugen Steiner, Venture Partner | MD PhD. He has expertise in drug development and commercialization.
Georg Vo Beiske, Venture Partner | MSc. He specializes in investment strategies and portfolio management.
Shamim Dadvar, Associate | MD PhD. He supports investment analysis and due diligence processes.
Josefine Persson, Associate | MSc. She focuses on market research and competitive analysis.
Tyra Küller, Associate | MSc. She assists in operational support and project management.
Marile Schiess, Head of Compliance | MSc. She ensures regulatory compliance across investments.
Mikael Grundström, Senior Controller | MSc. He manages financial reporting and analysis.
Sofie Wennerqvist, Investment Monitor. She tracks market trends and investment opportunities.
Nattiya Simmano, Receptionist. She manages office operations and client communications.
Gunilla Byström, Office Manager. She oversees administrative functions and office management.
Oern R. Stuge, Director | MD MBA. He focuses on strategic partnerships and business development.
Fabrice Bernhard, General Manager | MSc. He manages day-to-day operations and team coordination.
Vanessa Malier, Director, GP | MSc. She oversees investment strategies and portfolio management.
Thomas Ramdahl, Director, GP | MSc PhD. He focuses on healthcare investments and market strategies.
To pitch to HealthCap, founders should reach out via email to Dr. Carl Kilander at carl.kilander@healthcap.eu. It is essential to include a comprehensive presentation that outlines the business model, market opportunity, and the unique value proposition of the startup. HealthCap appreciates well-structured pitches that clearly articulate the potential impact of the proposed therapies.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, as they can facilitate a more favorable review of the proposal.
In 2025, HealthCap IX received a significant investment of €48 million from Novo Holdings and EIFO to strengthen its presence in the Nordic life sciences sector. This funding is aimed at enhancing the firm's ability to support innovative healthcare startups.
HealthCap is also establishing a local presence in Copenhagen at the BioInnovation Institute (BII), further expanding its reach within the European life sciences ecosystem.
What are HealthCap's investment criteria?
HealthCap focuses on investing in life sciences companies that develop targeted therapies for rare diseases, cancers, and genetic disorders. The firm looks for emerging therapeutics that can significantly improve patient outcomes, particularly those aligned with precision medicine.
How can I apply or pitch to HealthCap?
Founders can pitch their business ideas to HealthCap by contacting Dr. Carl Kilander at carl.kilander@healthcap.eu. It is advisable to provide a detailed presentation that outlines the business model, market opportunity, and the unique value proposition of the startup.
What makes HealthCap different from other venture capital firms?
HealthCap distinguishes itself through its deep focus on the life sciences sector and its commitment to addressing high unmet medical needs. The firm actively engages in board roles and leverages its extensive scientific and industrial networks to support portfolio companies.
What is HealthCap's geographic scope?
While HealthCap primarily invests in Europe, it also considers opportunities globally, particularly in the Nordic region. The firm has established a strong presence in the European life sciences ecosystem.
What is HealthCap's post-investment involvement like?
HealthCap takes an active role in its portfolio companies, often participating in board meetings and providing strategic guidance. The firm emphasizes collaboration with its portfolio companies to enhance their growth and success.
What is the typical fund size and check size for HealthCap?
HealthCap has raised over EUR 1.2 billion across nine funds since its founding. Specific check sizes per deal are not publicly disclosed, but the firm is known for making significant investments in its portfolio companies.
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