In recent years, family office deal making into European healthtech has tracked up and to the right. Since 2020, family offices have participated in 218 deals, according to Dealroom, more than the previous 10 years combined.
While an ever-elusive part of the tech ecosystem, family offices can offer more long-term capital than VC firms — which are bound by commitments to return LPs money after a certain amount of time. That patient capital can be all important for healthtechs, which can have long exit timelines because of regulatory hurdles they have to navigate before launching a product..
Sifted used data from PitchBook to find out how many investments global family offices have made into European healthtech startups in the last five years. Sifted reached out to all of the investors on this list to confirm numbers.
Occident — 28 investments
Occident Group is a Switzerland- and Germany-based family office. The investor focuses on backing deeptech startups.
Occident has backed startups including Swiss wearable device company Lymphatica Medtech, Swiss blood purification startup Hemotune and German drug discovery startup Tubulis.
Arve Capital — 21 investments
Arve Capital is the VC arm of the family office of the German Sanner family — which made its fortune as a healthcare packaging company, founded in 1894. Arve invests in healthtechs up to Series A.
Portfolio startups include German primary care software startup Eterno Health, UK-based clinical trials automation platform Research Grid and Swedish medication dosage management company OnDosis.
R42 Group — 16 investments
R42 Group is the Silicon Valley-based family office of Ronjon Nag — an entrepreneur who previously founded startups building mobile phone technology. Nag tells Sifted that the family office invests around $20m a year and focuses on AI and longevity startups.
Its portfolio includes mostly UK-based startups, including techbio Healx, drug discovery startup Concr and sperm testing company Exseed.
Kinled Holding — 14 investments
Kinled Holdings is the Hong Kong- and London-based family office of the Anglo-Austrian Aisher Family — which founded Marley, a roofing tile company. It invests primarily in life science and fintech startups.
Its portfolio includes healthcare specialist review platform Doctify, Swiss healthcare robotics company Nanoflex Robotics and Austrian health insurtech Hi.health.
Kinled declined to confirm data with Sifted.
Morningside Group — 9 investments
Morningside Group is a family office founded by Hong Kong-based property tycoons the Chan family, focused on biotech, property tech, climate tech and fintech investments.
It counts Swiss drug discovery scaleup Alentis Therapeutics, UK diagnostics startup LumiraDx and UK drug discovery company PhoreMost among its portfolio.
Morningside could not be reached to confirm data.
Elkstone Capital — 8 investments
Elkstone Capital is a multi-family office based in Dublin providing early- to late-stage investment opportunities in venture and real estate. It closed Ireland’s largest early-stage VC fund at €100m in 2023.
Its portfolio includes Irish startups Luminate Medical, which has developed a novel device to prevent hair loss during chemotherapy, medical device startup Croivalve and patient communication software Wellola.
Elkstone could not be reached to confirm data.
Padda Health — 8 investments
Padda Health is an Italy-based family office focusing on early-stage healthtech investments, mostly in Italy.
Its portfolio includes Italian startups oncology platform SynDiag, care home software startup TeiaCare and diagnostics platform Omzey.
Padda could not be reached to confirm data.
Wille Finance — 7 investments
Wille Finance is the Swiss family office of the Wille family, focusing on private equity, VC and real estate. The family office says it has more than $500m in assets under management.
Its portfolio includes German radiology SaaS company Mediaire, Swiss surgical imagery startup SamanTree Medical and French startup Incepto, which helps radiologists integrate AI into their workflows.
Wille could not be reached to confirm data.
Celeste Management — 5 investments
Celeste Management is a Swiss family office.
Its portfolio includes French startups DomoHealth, a patient management platform, Prev&Care, an elderly care startup and Pharmedistore, a pharmacy marketplace.
Celeste could not be reached to confirm data.
Cemag Invest — 5 investments
Cemag Invest is a French family office, focusing on healthtech investments.
Its portfolio features French startups including robotic wheelchair company Wandercraft, diabetes medical device startup Diabeloop and radiologist platform Avicenna.ai.
Cemag declined to share data with Sifted.
Fort Knox — 5 investments
Fort Knox is the family office of Swedish entrepreneur Krister Olsson.
It mostly backs Swedish startups, including stroke rehabilitation company Brain Stimulation, physiotherapy platform Curest and drug development startup Omnio.
Fort Knox could not be reached to confirm data.
Nolsterby Invest — 5 investments
Nolsterby Invest is a Swedish family office focusing on medtech investments in its home market.
Its portfolio includes surgical equipment maker Stille, tumour identification software Oncodia and patient management platform Encare.
Nolsterby could not be reached to confirm data.
