Healthcare investors
Healthcare investors back companies in life sciences, medical devices, digital health and the software that runs care. The sector spans firms that fund a decade of drug development and firms that fund a clinic scheduling app, and the two look for different things.
The firms on this list name healthcare or life sciences as a focus on their own website. Some invest only in therapeutics, some only in health technology, and many across both. Each cites its own site as the source for what is written here.
Founded in 2020 by brothers Ammar and Mohammed (Mo) Amdani, Adapt Ventures operates as a boutique early-stage venture firm and venture studio. The firm is known for its highly…
Alpha Wave is an investment company that has three main verticals; private equity, private credit, and public markets. The objective of the private equity partnerships is to invest in…
Draper Associates is a Silicon Valley venture capital firm founded in 1985 by Tim Draper. The firm has more than 40 years of experience backing transformative technology companies…
Founder Institute is a pre-seed startup accelerator that offers structured accelerator programs to help entrepreneurs launch and grow technology startups. It provides a core program…
KBW Ventures is an asset management company focusing exclusively on venture capital, value creation, and growth equity. It targets direct investments in some of the world's most…
Presight Capital is a venture capital firm investing in the most ambitious founders across sectors, stages, and geographies. Presight takes a global approach to early-stage…
Pulsar Capital is a mid-market private equity firm with a strong footprint across India, the Middle East, and other emerging markets. It partners with visionary management teams to…
Target Global is a pan-European technology investment firm with more than €3 billion in assets under management. The firm invests in technology companies and maintains an active…
TA Ventures is a venture capital firm that invests in ambitious early-stage technology startups. The firm focuses on sectors including HealthTech, FinTech, B2B software, and other…
212 invests in growth-stage tech companies across Turkey, CEE, and MENA. Currently, our fund manages €75 million of committed capital, and 25 investments. Our strategy is to invest in…
Founded in 2018 by a group of seasoned executives including Steven Price and Matt Fremont-Smith, 25madison operates a unique, multi-pronged investment model. The firm incubates…
4DX Ventures is a technology-focused investment firm active across Africa. The firm highlights more than 10 years of track record, over 50 portfolio companies, and operations in more…
500 Global is a multi-stage venture capital firm with US$2.4 billion in assets under management that invests in founders building fast-growing technology companies. We focus on…
Founded in 2018 by former UK Chancellor of the Exchequer George Osborne, alongside Theo Osborne and David Fisher, 9Yards Capital is a growth equity firm that backs technical founders…
Abu Dhabi Growth Fund is a sovereign investment fund established in July 2021 with the mandate of pursuing a differentiated investment strategy to generate high financial returns for…
Access Bridge Ventures is an early-stage venture capital fund investing in people and entrepreneurs, providing value add through regional networks, operational experience, strong…
Founded in 2019 by former Aspect Ventures and Accel partners, Acrew Capital is a multi-stage venture capital firm that emphasizes depth of conviction, emotional intelligence, and…
Afore Capital was founded in 2016 by Gaurav Jain and Anamitra Banerji to institutionalize "pre-seed" investing at a time when the category was still nascent. They saw a gap in the…
Founded in 2013, AgFunder is a digitally-native venture capital firm that operates at the intersection of capital, media, and technology. They leverage their globally recognized media…
Founded in 1999, Morgan Stanley Private Equity Solutions (formerly AIP Private Markets) is a leading limited partner and co-investor in the global private markets. Operating as a…
Egypt-based, Africa-focused venture capital firm partnering with bold and resilient founders building transformative companies.
Alpha Dhabi Holding is a publicly listed investment holding company in the MENA region with a portfolio across diverse sectors including climate capital, real estate, healthcare…
Founded in 2015 by Lei (Renee) Li, Alpha Square Group (ASG) began as a single-family office and officially transitioned to a Registered Investment Advisor (RIA) in 2020. The firm…
What healthcare investors look for
A clear regulatory path.
Which agency, which route, how long and how much. Investors in this sector price regulatory risk first, and a team that can describe its path in detail is a team that has done the work.
Evidence that fits the claim.
A therapeutic needs data. A device needs performance and safety. A software product needs outcomes or savings a buyer will pay for. The evidence should match what the company says it does.
Who pays.
Patients, providers, payers and employers all buy differently and slowly. Investors want the buyer named, the budget it comes from, and a reason the buyer moves this year.
A team with domain credibility.
Clinical, scientific or operating experience in the part of healthcare the company sells into. Founders from outside the sector usually pair with someone from inside it.
Capital efficiency in a capital-heavy field.
How far the round gets the company, measured in milestones that reduce risk, and what the next round looks like once they are reached.
Raising in healthcare
Healthcare rounds are often larger, longer to close and more heavily diligenced than rounds in software. Specialist investors bring scientific and clinical advisers, and their questions go deep into the data. A founder should expect to defend the study design as much as the business plan.
Have ready: the regulatory strategy, the clinical or scientific evidence with its limitations stated, the reimbursement or commercial model, intellectual property, and a milestone plan tied to the money being raised.
Sales cycles in healthcare run long, and investors know it. A pipeline with named institutions and where each one is in its process carries more weight than a projection.
Questions
Do healthcare investors fund software companies?
Many do. Digital health and healthcare software are a large part of the sector. The firms that do will say so on their sites, and the ones that only fund therapeutics will say that too.
How do investors assess regulatory risk?
By the route the company has chosen, the evidence that route requires, the time and cost to produce it, and the team's experience with the agency involved. Each market has its own regulator and its own timeline.
What is reimbursement and why do investors ask about it?
Whether an insurer, health system or government will pay for the product, at what rate, and through which code or contract. A product without a payer is a product without revenue, however good the outcomes.
How long do healthcare companies take to exit?
Longer than software companies on average. Therapeutics and devices often take a decade. Investors in the sector structure their funds for that, which is why many generalist funds avoid it.
Should I raise from a specialist or a generalist fund?
Specialists understand the science and the regulatory path, and their diligence is harder. Generalists bring broader networks and sometimes faster decisions. Many companies take both in the same round.
Healthcare investors by country
Healthcare investors by city
Healthcare investors by stage