Earlybird Health, a division of the Berlin-based venture capital firm Earlybird Venture Capital, has announced the closure of its latest healthcare fund at €173M. This new fund, significantly larger than its predecessor, is set to invest in European companies at the forefront of transitioning technologies from development to regulatory approval and commercialization.
The fund aims to cover a wide range of healthcare sectors, including digital health, diagnostics, medical devices, R&D tools, and biopharma. The focus is on achieving positive patient outcomes through various technologies, aligning with Article 8 Fund criteria under the EU’s Sustainable Finance Disclosure Regulation (SFDR).
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Leveraging Experience to Revolutionize Patient Care
Newly-appointed partner, Florent Gros, emphasized the shared commitment to revolutionizing patient care and leveraging experience in biotech and biopharma to strengthen Earlybird’s impact in the healthcare sector. Earlybird’s investment in Priothera and Gros’ previous role with the Novartis Venture Fund are set to enhance the firm’s influence in the healthcare investment landscape.
Proprietary AI Tool for Enhanced Investment
Earlybird Health utilizes its proprietary AI tool, Eagle Eye, to augment the investment team’s capabilities. This tool sources deals through data aggregation, covering startups and established entities, and provides market intelligence for deal sourcing. Dr. Christoph Massner, Principal at Earlybird Health, highlighted Eagle Eye’s role in driving a more effective, efficient, and inclusive deal sourcing and due diligence process for their investment teams.
Initial Investments and Future Plans
Earlybird Health has begun deploying capital from this fund, investing in companies like ImCheck Therapeutics, Oculis, Grey Wolf Therapeutics, and Ariceum Therapeutics. The fund is also finalizing deals with three medical device companies, with details to be disclosed upon finalization.
Support from Major Institutional Investors
The fund has garnered support from major institutional investors across Europe, including health insurers, strategic investors, and public and private organizations. Christine Hockley, MD for Funds at British Patient Capital, expressed delight in supporting Earlybird Health’s healthcare investment strategy, particularly within the UK, highlighting the UK’s role as a global center for healthcare innovation.
Pioneering Investment by Health Insurers
BARMER, a German health insurer, made history as the first of its kind to invest in a venture capital fund through Earlybird Health. Prof. Dr. Christoph Straub, CEO of BARMER, expressed pride in paving the way for health insurers to invest in venture capital, reflecting a commitment to fostering innovation within the German and European healthcare ecosystem.
About Earlybird Venture Capital
Founded in 1997, Earlybird Venture Capital invests across all phases of technology company development and growth, providing not only financial resources but also strategic support and access to an international network and capital markets. With €2B under management, Earlybird is one of the active VC firms in Europe, dedicated to eco-sustainability and encouraging its portfolio companies to offset their carbon footprint.
With this new healthcare fund, Earlybird Health is poised to make significant contributions to the development and commercialization of innovative healthcare technologies across Europe, supporting the growth of companies that promise to revolutionize patient care and outcomes.
