The mental health services industry in the DACH region is a vibrant interplay of medical, technological, and supportive care aimed at addressing psychological well-being. Companies range from startups using AI-powered technologies to established organizations providing in-person therapy and telehealth solutions. With rising demand for mental healthcare, fueled by awareness and destigmatization, this sector is embracing innovations like app-based therapies and data analytics. Also, regulatory changes and supportive policies are steering investments toward scalable mental health solutions that cater to diverse needs, suggesting that the industry is equipped for notable growth in the upcoming years.


The investors highlighted in this article present an intriguing mix of venture capital firms and corporate investment entities. Primarily headquartered in cities such as Berlin, Munich, and Basel, these investors range in size from small teams to larger firms with hundreds of employees. Established mostly in the last decade, they collectively completed numerous deals in 2024, showcasing robust interest in mental health services. With significant funds channeled into innovative startups, these investors are helping to shape the future of mental well-being across the DACH region.


Top 17 Mental Health Services Investors in DACH


1. 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. They provide capital, 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, Calm/Storm has participated in significant funding rounds for mental health-related startups, including Thymia, which is developing video game-inspired AI technology for mental health, and Mindstep, a startup focused on neurological healthcare. These transactions highlight their commitment to advancing mental health services through innovative technology.


2. 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 enhance patient outcomes globally. Notably, Novartis has made significant investments in the mental health services sector, including a $45 million investment in Holmusk during its Series B funding round in January 2023, which focuses on mental health data analytics and digital therapeutics. Additionally, Novartis participated in earlier funding rounds for Holmusk and was involved in the Series A funding for NuvoAir, a company that supports decentralized clinical trials, which can include mental health studies. These transactions highlight Novartis's active role in supporting advancements in mental health services.


3. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has invested in over 270 startups, providing not only funding but also expertise and resources to help these businesses thrive. In recent years, IBB Ventures has shown a particular interest in the mental health services sector, participating in significant funding rounds for companies such as Selfapy, which focuses on digital therapeutics for mental health disorders, and Likeminded, which offers a B2B digital mental health solution. Additionally, they invested in Flow Lab, a mental fitness startup, further demonstrating their engagement in the mental health space. This track record highlights IBB Ventures' role as a supportive investor in the mental health services industry.


4. Ananda Impact Ventures

  • Website: ananda.vc
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: anandaventures

Ananda Impact Ventures is an impact investment firm based in Munich, Bavaria, Germany, founded in 2010. The firm focuses on supporting early-stage companies that aim to create significant social and environmental impact across various sectors, including healthcare, education, and sustainability. Notably, Ananda has invested in Ieso Digital Health, a UK-based platform for online mental healthcare, which raised $52.5 million in a Series B funding round in November 2021 to scale its AI-based chat therapy services. This investment highlights Ananda's commitment to enhancing mental health services through innovative technology. Additionally, Ieso has received funding in previous rounds, indicating ongoing support for its growth and expansion into new markets, further emphasizing Ananda's role in the mental health sector.


5. Speedinvest

  • Website: speedinvest.com
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: speedinvest

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these startups scale their operations. Speedinvest's investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, they have made significant investments in the health sector, including companies like nilo.health, which raised $8 million to expand its global provider network, and juli, an AI-powered digital health platform that raised $3.8 million. Additionally, their investment in Charles.co, a digital clinic focused on men's health, further highlights their engagement in health services that can intersect with mental health. Their diverse portfolio and active participation in health-related startups position them as a relevant player in the mental health services investment landscape.


6. 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 is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, the fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping them develop novel therapeutics and address unmet patient needs. Notably, the fund has participated in several transactions that could intersect with mental health services, such as their co-lead investment in Lemonaid Health, which raised $11 million in Series A funding to enhance access to healthcare, including mental health services. They also invested in Cala Health, which raised $50 million in Series C funding, potentially indicating interest in health technologies that could include mental health applications. Their investment strategy emphasizes collaboration with companies that are pioneering advancements in healthcare, which may encompass mental health solutions.


7. Redstone


Redstone is a venture capital firm based in Berlin, Germany, founded in 2014. The firm specializes in investing in technology startups across various sectors, including FinTech, Industrial, Sustainability, and Quantum. Redstone provides investment management services and conducts research on the venture capital landscape, particularly focusing on the participation of pension funds in the startup ecosystem. In recent years, Redstone has made notable investments in the mental health services sector, including eaze, a Berlin-based healthtech startup that raised €1.7 million in a pre-seed funding round to enhance customer acquisition and develop AI technologies for wellness solutions. Additionally, they invested in Aris4Autism, which raised $284,243 in a seed round, indicating their interest in supporting mental health initiatives. These transactions highlight Redstone's active role in the healthtech space, particularly in areas related to mental health.


8. APX Talent Pool

  • Website: apx.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2018
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: apx-talent-pool

APX Talent Pool is a venture capital firm based in Berlin, founded in 2018, that specializes in earliest-stage investments in startups with digital business models. Backed by prominent entities such as Axel Springer and Porsche, APX provides funding and growth assistance to ambitious pre-seed startups, helping them navigate the challenges of launching and scaling their businesses. Among their notable transactions, APX participated in the funding round for Flow Lab, a mental fitness startup, showcasing their engagement in the mental health services sector. Additionally, they were involved in the pre-seed funding of eaze, a healthtech startup, which aims to enhance customer acquisition and develop AI technologies for health services. These investments highlight APX's commitment to supporting innovative solutions in the mental health and wellness space.


9. Atlantic Labs

  • Website: atlanticlabs.de
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2013
  • Headcount: 11-50
  • Number of deals in 2024: 13
  • LinkedIn: atlantic-labs

Atlantic Labs is a venture capital firm based in Berlin, Germany, founded in 2013. The firm is dedicated to supporting exceptional, mission-driven founders throughout their entrepreneurial journey. They focus on investing in startups across various sectors, including climate tech, AI, and digital health, providing both capital and strategic guidance to help these businesses grow. Notably, Atlantic Labs has invested in several mental health-related companies, including Meditopia, which raised $15 million in Series A funding in July 2020, and $2.5 million in a Seed Round in August 2019. They also participated in the funding rounds for nilo.health, a company that aims to expand its global provider network for mental health services, contributing to a Pre-Seed Round in November 2020 and a Seed Round in May 2022, where the company raised $8 million. Additionally, they invested in Caspar Health, which raised $10.6 million in Series B funding in July 2021, further emphasizing their engagement in the mental health services sector.


10. 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 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. Notably, Leaps by Bayer has made strategic investments in the mental health services sector, including a significant investment in Woebot Health, a therapy chatbot startup that raised $9.5 million in a funding round. This investment highlights their commitment to supporting innovative solutions in mental health. Additionally, they have participated in other funding rounds for companies like Transcarent, which, while primarily focused on healthcare services, may also intersect with mental health services. Overall, Leaps by Bayer's investment strategy includes a notable interest in mental health solutions, making them a relevant player in this space.


11. 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 invested in mental health services, including Shezlong, which raised $50,000 in a seed round in October 2019, and doc-doc, which raised a total of $530,000 across multiple rounds in 2020 and 2021. Additionally, they supported Zuri Health with a grant of $100,000 in November 2022, further demonstrating their engagement in the health sector.


12. Picus Capital

  • Website: picuscap.com
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: picus-capital

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. The firm specializes in early-stage technology investments and partners with innovative startups across various sectors, including fintech and healthcare. They provide not only capital but also strategic guidance and HR support to empower entrepreneurs in building sustainable category leaders globally. Notably, Picus Capital has invested in RelianceHMO and Reliance Health, both of which are involved in the healthcare sector. Reliance Health, a Nigerian e-health business, raised $40 million in a Series B funding round, with Picus Capital as one of the key investors. This involvement in healthcare startups highlights their interest in supporting innovations that could potentially enhance mental health services.


13. YZR Capital

  • Website: yzr.vc
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: yzr-vc

YZR Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2021. The firm specializes in health tech investments, providing capital and healthcare-specific expertise to early-stage and growth-stage startups across Europe. YZR Capital aims to empower entrepreneurs to innovate and improve the healthcare system. Notably, they have invested in Clare&me, a Berlin-based healthtech startup focused on mental health, which raised €1 million in a pre-seed funding round in February 2022 and $4,043,172 in a seed round in August 2024. They also participated in the pre-seed funding round for Univa Health, which raised $1,308,440 in October 2024, further indicating their commitment to health tech solutions that may include mental health services.


14. AirAngels

  • Website: airangels.co
  • Type: Corporate
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn:

AirAngels is a corporate investor based in Vienna, Austria, founded in 2020. The firm operates as an investment platform that connects startups with investors, facilitating venture funds, rolling funds, and syndicates. In 2024, AirAngels has already participated in three investments, including notable transactions in the mental health services sector. They were involved in Cerebral's Series A and Series B funding rounds, which raised a total of $162 million to enhance access to mental health care. Additionally, AirAngels participated in Isaac Health's Seed funding round, which raised $5.7 million to develop a platform focused on brain health and dementia. These transactions highlight AirAngels' commitment to supporting innovations in mental health services.


15. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, specializing in the healthcare sector. Founded in 2001, the firm manages a diversified portfolio of healthcare companies, focusing on human medicine, biotechnology, medical technology, and diagnostics. In recent transactions, HBM Healthcare participated in funding rounds for Aculys Pharma, which raised significant capital for a candidate targeting sleep disorders, a condition that intersects with mental health. Additionally, they have been involved with connectRN, a nurse staffing app, which, while not directly related to mental health services, indicates their active engagement in the healthcare ecosystem. HBM Healthcare Investments aims to provide growth opportunities in the rapidly evolving healthcare market, which may include future investments in mental health services.


16. Possible Ventures

  • Website: possible.ventures
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: possible-vc

Possible Ventures is a venture capital firm based in Munich, Bavaria, Germany, founded in 2021. The firm has a small team and has been active in various investment rounds, totaling 9 investments in 2024 alone. Notably, Possible Ventures led a funding round for Psylo, a Sydney-based psychedelic biotech startup that raised $1.1 million. This investment highlights Possible Ventures' interest in the mental health services sector, particularly in the emerging field of psychedelic therapies. Additionally, they have participated in funding rounds for fintech companies like Oxygen, which, while not directly related to mental health, showcases their diverse investment strategy. Overall, Possible Ventures is positioned as an innovative investor with a growing interest in mental health solutions.


17. Dieter von Holtzbrinck Ventures


Dieter von Holtzbrinck Ventures GmbH is a venture capital firm founded in 2014, based in Neunkirchen, North Rhine-Westphalia, Germany. The firm specializes in early-stage technology investments across various sectors, including Digital Health, Education, DeepTech, and Climate Tech/ESG. They provide not only financial backing but also management expertise and access to a wide network of investors to help startups grow. Notably, they have invested in HelloBetter, which raised $6,371,950 in a venture round aimed at enhancing mental health services. Additionally, they participated in the seed funding rounds for juli, an AI-powered digital health platform, and HealthCaters, which focuses on health screening but also contributes to overall health management, including mental health aspects. Their diverse portfolio in health technology positions them as a relevant player in the mental health services sector.



Mental Health Services Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Calm/StormVienna, Vienna, Austria1-10202013
NovartisBasel, Basel, Switzerland10001+19967
IBB VenturesBerlin, Berlin, Germany11-50199718
Ananda Impact VenturesMunich, Bavaria, Germany11-5020106
SpeedinvestVienna, Vienna, Austria51-200201145
Novartis Venture FundBasel, Basel, Switzerland11-50199610
RedstoneBerlin, Berlin, Germany11-50201414
APX Talent PoolBerlin, Berlin, Germany11-5020187
Atlantic LabsBerlin, Berlin, Germany11-50201313
Leaps by BayerBerlin, Berlin, Germany11-50201516
SeedstarsCarouge, Geneva, Switzerland201-50020126
Picus CapitalMunich, Bavaria, Germany11-50201528
YZR CapitalMunich, Bavaria, Germany1-1020219
AirAngelsVienna, Vienna, Austria11-5020203
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
Possible VenturesMunich, Bavaria, Germany1-1020219
Dieter von Holtzbrinck VenturesNeunkirchen, North Rhine-Westphalia, Germany1-1020142


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