The healthcare industry in DACH is vibrant and rapidly evolving, encompassing a variety of companies from biotech to telehealth. Firms are developing innovative medical solutions, digital health platforms, and cutting-edge therapies to address pressing health challenges. With an increasing focus on precision medicine and a shift towards patient-centered care, investment is flowing into startups that leverage technology and data science. As demand for effective health solutions grows, we’re witnessing a surge in entrepreneurial ventures that seek to improve patient outcomes and streamline healthcare delivery systems in Germany, Austria, and Switzerland.


The 2024 investment landscape in DACH showcases a mix of venture capital firms and corporate investors dedicated to healthcare innovation. These investors range in size from small teams to large firms with extensive portfolios. Many were founded in the late 1990s and 2000s, advocating for early-stage investments. Notably, 2024 witnessed substantial deal activities: Leaps by Bayer and Bayern Kapital spearheaded a flurry of funding rounds, highlighting a strong interest in biotech and health tech initiatives within the sector.


Top 12 Healthcare Investors in DACH


1. Novartis Venture Fund

  • Website: nvfund.com
  • Type: Venture Capital
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 11-50
  • Number of deals in 2024: 10

The Novartis Venture Fund, founded in 1996 and based in Basel, Switzerland, is a venture capital firm that specializes in life sciences investments. The firm focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping them develop novel therapeutics and address unmet patient needs. In recent years, the fund has been involved in several significant transactions within the healthcare sector. For instance, they co-led an $11 million Series A round for Lemonaid Health, a company focused on telehealth services, and participated in a $18.5 million Series C round for mPharma, which aims to improve access to essential medicines in Africa. Additionally, they have invested in Alios BioPharma, contributing to multiple funding rounds that supported the development of respiratory therapeutics. These activities highlight the fund's commitment to advancing healthcare innovation and its strategic focus on life sciences.


2. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, founded in 2001. The firm specializes in the healthcare sector, managing a diversified portfolio that includes investments in human medicine, biotechnology, medical technology, and diagnostics. HBM Healthcare has been actively involved in several significant transactions, particularly with the digital health startup 1mg. They led a $15 million Series C funding round for 1mg in 2017, participated in a $70 million Series D round in 2019, and were involved in subsequent funding rounds, including a $40 million round in 2022 that valued 1mg at $1.25 billion. These transactions highlight HBM Healthcare's active role in supporting innovative healthcare solutions and their commitment to growth opportunities in the rapidly evolving healthcare market.


3. Novartis

  • Website: novartis.com
  • Type: Corporate
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: novartis

Novartis AG is a prominent pharmaceutical company based in Basel, Switzerland, founded in 1996. The company focuses on developing and manufacturing innovative medicines aimed at addressing serious diseases across various therapeutic areas. Novartis emphasizes research and development to improve patient outcomes globally. Notable transactions include the acquisition of AveXis for $8.7 billion in 2018, which bolstered their capabilities in gene therapy. In 2019, Novartis agreed to acquire The Medicines Company for $9.7 billion, enhancing their portfolio in the pharmaceutical sector. Additionally, their acquisition of Cadent Therapeutics in 2020 for up to $770 million highlights their interest in neuroscience and cognitive disorders. These strategic investments reflect Novartis's commitment to advancing healthcare through innovation and development.


4. Calm/Storm

  • Website: calmstorm.vc
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 13
  • LinkedIn: calm-storm

Calm/Storm Ventures is a venture capital firm based in Vienna, Austria, founded in 2020. The firm specializes in early-stage investments in health tech startups, focusing on purpose-driven founders. Calm/Storm provides not only capital but also support and networking opportunities to help these companies thrive in the competitive health tech landscape. Their portfolio includes diverse teams addressing sensitive health issues. Notably, in 2024, Calm/Storm participated in the seed funding rounds for Foundation Health, which raised $6 million, and Lillian Care, which raised approximately $1.6 million in a seed round and had previously secured €2.4 million in pre-seed funding. Lillian Care aims to tackle the shortage of general practitioners and enhance primary care services in underserved areas, demonstrating Calm/Storm's commitment to impactful healthcare solutions.


5. Nextech Invest


Nextech Invest is a Zurich-based venture capital firm founded in 1998, specializing in biotechnology with a strong emphasis on cancer therapeutics. The firm invests in promising drug discovery companies and provides strategic support to help these firms navigate the complexities of drug development. In recent years, Nextech Invest has participated in several notable transactions within the healthcare sector, including a $131.2 million Series C funding for Cullinan Therapeutics in December 2020, and a $90 million Series D round for Circle Pharma in September 2024. Additionally, they co-led a $66 million Series C financing for Circle Pharma in June 2021, which aims to advance precision oncology programs. These transactions highlight Nextech Invest's active role in supporting innovative healthcare solutions and their commitment to the biotechnology sector.


6. Leaps by Bayer

  • Website: leaps.bayer.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: leapsbybayer

Leaps by Bayer is a venture capital investment firm based in Berlin, Germany, founded in 2015. The firm focuses on biotechnology and agriculture, investing in early-stage companies that pursue scientific breakthroughs to tackle major global challenges in health and food security. In 2024, Leaps by Bayer has been particularly active, participating in 16 investments. Notably, they have invested in Transcarent, which raised $126 million in a Series D round, and 9amHealth, a virtual diabetes clinic that raised $9.5 million in a Series A round in 2024. These transactions underscore their commitment to supporting innovative solutions in the healthcare sector, making them a significant player in healthcare investment.


7. Wellington Partners


Wellington Partners is a venture capital firm based in Munich, Bavaria, Germany, founded in 1998. The firm specializes in life sciences and focuses on early- and growth-stage companies, providing capital and strategic support to entrepreneurs in sectors such as therapeutics and medical devices. Notable transactions include a $55 million Series B investment in Sidekick Health, a digital therapeutics company, and a $26.5 million Series E investment in Adrenomed, which is focused on medical advancements. Additionally, they participated in a $20 million Series A funding round for Sidekick Health, further demonstrating their commitment to supporting innovative healthcare startups. Wellington Partners aims to help these companies develop breakthrough technologies and achieve market success, solidifying their role as a key player in the healthcare investment landscape.


8. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, with a strong focus on sectors such as life sciences and software. In recent years, Bayern Kapital has been involved in several notable transactions within the healthcare context, including their participation in the Series A financing of Immunic AG, a company dedicated to developing therapies for autoimmune diseases. Additionally, they have invested in companies like XO Life and SciRhom, which are engaged in healthcare-related innovations. With a total of 27 investments in 2024 alone, Bayern Kapital demonstrates a robust engagement in supporting the growth of healthcare startups alongside their broader investment strategy.


9. Boehringer Ingelheim Venture Fund

  • Website: boehringer-ingelheim-venture.com
  • Type: Venture Capital
  • Headquarters: Ingelheim Am Rhein, Rhineland-Palatinate, Germany
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 5

Boehringer Ingelheim Venture Fund is a venture capital firm based in Ingelheim Am Rhein, Rhineland-Palatinate, Germany, founded in 2010. The fund is dedicated to investing in pioneering science and biotechnology innovations, particularly within the healthcare sector. They provide both capital and expertise to startups, helping them develop and commercialize their products. Notable transactions include a Series A funding round for Wellth, which raised $10 million to scale its healthcare solutions, and a GBP24 million Series A investment in Centauri Therapeutics, which focuses on therapeutic innovations. Additionally, they participated in a Series C funding round for Hookipa Pharma, which raised $60 million, further emphasizing their commitment to advancing healthcare technologies. Their portfolio reflects a strong emphasis on healthcare innovation, making them a significant player in the venture capital landscape for this sector.


10. Verve Ventures

  • Website: verve.vc
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 25
  • LinkedIn: investiere-venture-capital

Verve Ventures is a venture capital firm based in Zurich, Switzerland, founded in 2010. The firm specializes in deep tech investments across Europe, providing funding and strategic support to science and technology startups. Their investment focus includes various sectors such as climate tech, industrial technology, and notably, health & bio. Verve Ventures has been involved in several significant transactions in the healthcare sector, including DomoHealth, which raised funds in multiple rounds from 2012 to 2016, and MultiOmic Health, which secured a $6.2 million seed funding extension in 2023 to advance its MOHSAIC® platform for diabetic kidney disease. Additionally, they participated in a CHF 7.5 million Series A round for Piomic Medical, a startup focused on diabetes solutions. These transactions highlight Verve Ventures' active role in supporting healthcare innovation and startups.


11. BiomedVC

  • Website: biomedvc.com
  • Type: Venture Capital
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 2003
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: biomedvc

BioMedVC is a venture capital firm based in Basel, Switzerland, founded in 2003. The firm specializes in early-stage investments in the life sciences sector, focusing on supporting biotech startups by providing capital and strategic guidance to help them develop innovative medical solutions. BiomedVC's investment portfolio includes notable transactions such as Roche Glycart, which raised $13.6 million in a Series A funding round in 2003, and Miracor Medical, which has undergone multiple funding rounds, including a Series D round that raised $30.2 million in 2018. Additionally, they participated in the Series A financing of Inotrem, a French biotech company, which raised €18 million in 2014. These transactions highlight BiomedVC's commitment to advancing healthcare technologies and supporting the growth of companies that are pivotal in the medical field.


12. HBM Partners AG


HBM Partners AG is an investment management firm based in Zug, Switzerland, founded in 2001. The firm specializes in healthcare investments, providing venture, growth, and buy-out financing for private companies, as well as public company investments in the biopharma, medtech, diagnostics, and healthcare sectors. HBM Partners serves institutional and professional clients, offering capital and strategic support to enhance value creation. Notable transactions include a $57 million Series A investment in Aspreva Pharmaceuticals Corp in 2004, a $60 million Series C investment in Hookipa Pharma in 2017, and multiple investments in Farmalisto, including a $4.3 million convertible note in 2023 and a Series B round in 2022. These transactions highlight HBM Partners' commitment to advancing healthcare innovation and supporting companies that are making significant contributions to the industry.



Healthcare Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Novartis Venture FundBasel, Basel, Switzerland11-50199610
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
NovartisBasel, Basel, Switzerland10001+19967
Calm/StormVienna, Vienna, Austria1-10202013
Nextech InvestZurich, Zurich, Switzerland11-50199813
Leaps by BayerBerlin, Berlin, Germany11-50201516
Wellington PartnersMunich, Bavaria, Germany11-5019989
Bayern KapitalLandshut, Bavaria, Germany11-50199527
Boehringer Ingelheim Venture FundIngelheim Am Rhein, Rhineland-Palatinate, Germany11-5020105
Verve VenturesZurich, Zurich, Switzerland11-50201025
BiomedVCBasel, Basel, Switzerland1-1020032
HBM Partners AGZug, Zug, Switzerland11-5020010


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