The mail order pharmacy industry in Europe is evolving rapidly, driven by increasing consumer demand for convenience and access to medicinal products. It includes a mix of online pharmacies and technology-driven healthcare companies that deliver prescription and over-the-counter medications directly to patients' doors. As digital health continues to gain momentum, players in this market are enhancing their services with telehealth options, personalized medicine, and efficient logistics. By focusing on patient-centric solutions, these companies aim to improve healthcare access. With advancements in technology and changing regulations, the industry is set for considerable growth in the coming years.


The investors listed here represent a dynamic mix of corporate players, venture capitalists, and private equity firms, primarily based in major cities like London, Paris, and Stockholm. Founded between 1908 and 2017, these firms vary significantly in terms of size, from 1-10 employees to over 10,000. Collectively, they participated in 2024 with a total of 392 investments across the mail order pharmacy sector. Noteworthy investors include Sanofi and SoftBank, both committed to driving innovation in healthcare.


Top 16 Mail Order Pharmacy Investors in Europe


1. SoftBank Investment Advisers


SoftBank Investment Advisers, also known as the SoftBank Vision Fund, is a venture capital fund founded in 2017 and based in London, England. The fund specializes in investing in technology-focused companies, particularly those innovating in artificial intelligence and health tech. Notably, SoftBank has been a key investor in Alto Pharmacy, a digital pharmacy and drug delivery service, leading multiple funding rounds including a $200 million Series E round in January 2022 and a $250 million Series D round in January 2020. These investments have helped Alto expand its operations and revenue significantly, indicating SoftBank's strong interest in the mail order pharmacy sector. The fund's diverse portfolio also includes other health tech companies, reflecting its commitment to fostering technological advancements in healthcare.


2. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and focuses on investing in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has participated in significant funding rounds for companies like Halodoc, which raised $100 million in Series D funding in July 2023, and Doctor Anywhere, which raised $40.8 million in Series C funding in December 2023. These investments reflect Novo Holdings' commitment to supporting innovative healthcare delivery models, which may include mail order pharmacy services as part of a broader digital health strategy.


3. Sanofi

  • Website: sanofi.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1973
  • Headcount: 10001+
  • Number of deals in 2024: 17
  • LinkedIn: sanofi

Sanofi is a global pharmaceutical company based in Paris, Île-De-France, France, founded in 1973. With over 10,000 employees, Sanofi specializes in the research, development, manufacturing, and marketing of medications and vaccines across various therapeutic areas, including oncology and diabetes. In recent years, Sanofi has made significant investments in the healthcare sector, including notable transactions such as the acquisition of Chattem Inc. for $1.9 billion, which expanded their over-the-counter product offerings. Additionally, their investment in Livmed's, which raised $5,155,490 in a seed round, highlights their interest in innovative healthcare solutions. These activities demonstrate Sanofi's commitment to enhancing its consumer health portfolio, making it a relevant player in the mail order pharmacy space.


4. Index Ventures

  • Website: indexventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1996
  • Headcount: 51-200
  • Number of deals in 2024: 67
  • LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare. They provide capital and strategic support to entrepreneurs, helping them navigate the challenges of growing their businesses. Notably, Index Ventures has invested in Truepill, which raised $10 million in a Series A round in March 2019, highlighting their engagement in the mail order pharmacy space. Additionally, they have been involved in multiple funding rounds for Egalet, a pharmaceutical company, which showcases their commitment to the healthcare sector. Their focus on building long-term partnerships with founders positions them as a supportive investor for companies in the mail order pharmacy industry.


5. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. Crowdcube has a focus on promoting diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in significant transactions within the mail order pharmacy context, such as Phlo, which raised over $2.7 million in a convertible note, and NowRx, which raised $177,118 through equity crowdfunding. These transactions highlight Crowdcube's engagement with companies that operate in the mail order pharmacy industry, showcasing their relevance in this sector.


6. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in significant transactions within the pharmacy sector, such as Livmed's, which raised $5,155,490 in a seed round in November 2022, indicating a focus on mail order pharmacy services. Additionally, Bpifrance partnered with Ardian and MACSF in the acquisition of Healthy Group, the parent company of Aprium Pharmacie, which further emphasizes its commitment to supporting pharmacy-related businesses. Other transactions include investments in companies like Synapse Medicine and MB Therapeutics, showcasing a broader interest in the healthcare and pharmaceutical industries.


7. DST Global

  • Website: dst-global.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 24
  • LinkedIn: dst_2

DST Global is a London-based venture capital firm founded in 2009 by Yuri Milner, specializing in internet investments. The firm focuses on identifying and investing in some of the fastest-growing and most valuable internet companies globally. With a portfolio that includes notable investments in technology and delivery services, DST Global has also invested in Alto Pharmacy, which raised $17 million in a Series B funding round in June 2017. This investment highlights their interest in the mail order pharmacy sector, alongside their broader focus on technology-driven businesses.


8. Octopus Ventures

  • Website: octopusventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2008
  • Headcount: 51-200
  • Number of deals in 2024: 37
  • LinkedIn: octopus-ventures

Octopus Ventures is a London-based venture capital firm founded in 2008, focusing on backing founders and startups across a diverse range of sectors, including B2B Software, Bio, Climate, Consumer, Deep Tech, Fintech, and Health. They provide funding and strategic support to entrepreneurs, helping them navigate the challenges of building and scaling their businesses. Notably, Octopus Ventures has made significant investments in health-related companies, such as LVNDR Health, where they led a £1.5 million seed financing round, and Manual, which raised over $38 million in a recent venture round. Their participation in these health-focused transactions highlights their interest in the health sector, which is closely related to the mail order pharmacy industry.


9. Baillie Gifford

  • Website: bailliegifford.com
  • Type: Private Equity
  • Headquarters: Edinburgh, Scotland, United Kingdom (UK)
  • Founded year: 1908
  • Headcount: 1001-5000
  • Number of deals in 2024: 13
  • LinkedIn: baillie-gifford

Baillie Gifford & Co is an investment management firm based in Edinburgh, Scotland, specializing in managing equity, fixed-income, and multi-asset portfolios. Founded in 1908, the firm serves professional investors, including institutions and high-net-worth individuals, by providing expert investment management and advisory services focused on long-term growth opportunities. Baillie Gifford employs a research-driven approach to deliver sustainable returns for its clients. Notably, they participated in a significant funding round for Capsule, a digital pharmacy startup, which raised $300 million in a Series D funding round. This investment highlights their engagement in the mail order pharmacy industry. Additionally, they have invested in other health-related companies such as Oscar Health and Lyra Health, showcasing their broader interest in the healthcare sector.


10. Kinnevik

  • Website: kinnevik.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1936
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: investment-ab-kinnevik

Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. The firm partners with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. Kinnevik provides both capital and operational support to help companies scale and create long-term value. Notably, Kinnevik has participated in significant funding rounds for healthcare-related companies such as Transcarent, which raised $126 million in Series D and $200 million in Series C, focusing on healthcare services. Additionally, Kinnevik was involved in Pelago's funding rounds, which emphasize substance use management, and Babylon, which raised $230 million in Post-IPO Equity, indicating a strong commitment to healthcare innovation. These transactions highlight Kinnevik's strategic interest in the healthcare sector, aligning with the evolving landscape of mail order pharmacy services.


11. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the healthcare sector, including the acquisition of LBX Pharmacy, which raised $36,168,245 in a Series A funding round in 2008, indicating their interest in mail order pharmacy operations. Additionally, EQT's acquisition of Karo Healthcare for $685,678,098 in 2019 and their investment in Icon Group, Australia's largest cancer care service provider, further demonstrate their commitment to expanding their healthcare portfolio. These transactions highlight EQT's strategic focus on healthcare, which includes potential interests in mail order pharmacy services.


12. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. Founded in 2005, the firm manages approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant investments in the healthcare sector, including the acquisition of Theramex, which specializes in women's health, and Cooper, a healthcare company. Additionally, their investment in Alvogen, which completed a $700 million term loan financing to expand its operations, further highlights their engagement in the pharmaceutical industry. These transactions demonstrate CVC's commitment to investing in healthcare-related companies, aligning with the interests of mail order pharmacy operations.


13. 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 leading pharmaceutical company based in Basel, Switzerland, founded in 1996. The company specializes in developing and manufacturing innovative medicines aimed at addressing serious diseases across various therapeutic areas. Novartis emphasizes research and development to improve patient outcomes globally. In recent years, Novartis has engaged in several significant transactions relevant to the pharmacy industry. For instance, they participated in the Series A financing round for RxLightning, which focuses on revolutionizing pharmacy operations. Additionally, Novartis's investment in Aspen RxHealth and Alladapt Immunotherapeutics showcases their interest in advancing pharmacy services and clinical pharmacy models. These activities highlight Novartis's strategic involvement in the pharmacy sector, particularly in areas that could intersect with mail order pharmacy services.


14. Partech

  • Website: partechpartners.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1982
  • Headcount: 51-200
  • Number of deals in 2024: 24
  • LinkedIn: partech

Partech Partners is a venture capital firm founded in 1982, based in Paris, Île-De-France, France. The firm specializes in providing funding and support to startups across various sectors, particularly in technology. Partech operates globally and has a diverse portfolio of companies. Notably, they have invested in Oviva, a digital health company that raised $21 million in Series B funding in January 2020 and $12 million in Series A funding in November 2017. These investments highlight Partech's interest in the healthcare sector, which is relevant to the mail order pharmacy industry. Additionally, Partech has a history of investing in companies like Drug Abuse Sciences, which, while not directly related to mail order pharmacies, indicates their engagement in health-related ventures. This diverse investment strategy positions Partech as a potential player in the healthcare market, including mail order pharmacy services.


15. 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 of companies in human medicine, biotechnology, medical technology, and diagnostics. HBM Healthcare actively seeks growth opportunities in the rapidly evolving healthcare market. Among their notable transactions, they participated in the Series B funding round for Jianke, a Chinese online pharmacy operator, which raised $130 million to enhance its B2C pharmacy services. Additionally, HBM Healthcare invested in 1mg, a healthtech startup that has raised significant funding across multiple rounds, including a Series D round of $70 million and a debt financing round of $17.8 million. These investments highlight HBM Healthcare's commitment to the mail order pharmacy sector and its potential for growth.


16. Seedstars

  • Website: seedstars.com
  • Type: Venture Capital
  • Headquarters: Carouge, Geneva, Switzerland
  • Founded year: 2012
  • Headcount: 201-500
  • Number of deals in 2024: 6
  • LinkedIn: seedstars

Seedstars is a venture capital firm based in Carouge, Geneva, Switzerland, founded in 2012. The firm focuses on supporting startups and entrepreneurs in emerging markets through various programs, including acceleration and growth initiatives, investment readiness, and the operation of entrepreneurship hubs. Seedstars collaborates with governments, investors, and development agencies to foster entrepreneurial ecosystems and drive social and economic development. Notably, Seedstars has made significant investments in the mail order pharmacy sector, including a $750K seed funding round for MedEasy, an online pharmacy startup in Dhaka, aimed at expanding healthcare services in Bangladesh. Additionally, they have invested in Medsaf, which raised $1,070,000 in a seed round, and At-Home-Doc, which secured $1,400,000 in seed funding. These transactions highlight Seedstars' commitment to enhancing healthcare access through innovative pharmacy solutions.



Mail Order Pharmacy Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
SoftBank Investment AdvisersLondon, England, United Kingdom (UK)201-500201714
Novo HoldingsHellerup, Denmark51-200199945
SanofiParis, Île-De-France, France10001+197317
Index VenturesLondon, England, United Kingdom (UK)51-200199667
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
DST GlobalLondon, England, United Kingdom (UK)11-50200924
Octopus VenturesLondon, England, United Kingdom (UK)51-200200837
Baillie GiffordEdinburgh, Scotland, United Kingdom (UK)1001-5000190813
KinnevikStockholm, Stockholm, Sweden11-50193610
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
CvcLuxembourg1001-5000200516
NovartisBasel, Basel, Switzerland10001+19967
PartechParis, Île-De-France, France51-200198224
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
SeedstarsCarouge, Geneva, Switzerland201-50020126


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