Heal Capital
Heal Capital is a Berlin-based venture capital firm founded in 2019 that invests in technology-enabled healthcare and HealthTech companies from pre-seed to Series A across Europe. It is one of Europe's leading dedicated HealthTech funds, backed by a consortium of more than 25 German private health insurers (including Allianz, AXA and DKV) plus pharma and institutional investors, and manages over EUR 200m across two funds. The firm writes EUR 1-5m tickets into areas such as digital health applications, telemedicine, AI diagnostics, and care delivery, and was originally set up and managed with support from digital-health builders Heartbeat Labs and Flying Health.
Key facts
Recent exits
Coverage notes
2 funds tracked, 25 portfolio companies (22 active · 3 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Heal Capital has raised, with its portfolio companies. Hand-checked from public filings.
Heal Capital Fund IIVC2025 · 1yr€100M7 active
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Ditto | Healthcare | Netherlands | 2026 |
| FormlyAI | SaaS | Germany | 2025 |
| Handshake Health | SaaS | Germany | 2025 |
| Hypervision Surgical | MedTech | United Kingdom | 2026 |
| Medishout | SaaS | United Kingdom | 2025 |
| Qnomx | MedTech | Switzerland | 2025 |
| Tokura | Healthcare | Germany | 2026 |
Heal Capital Fund IVC2020 · 6yr€100M15 active · 3 realized
Unrealized
15 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Apheris | Software | Germany | 2022 |
| Apriwell | HealthTech | Germany | 2023 |
| Avi Medical | Healthcare | Germany | 2021 |
| CereGate | MedTech | Germany | 2020 |
| Entyre | Healthcare | Germany | 2022 |
| Heim Health | Healthcare | United Kingdom | 2024 |
| Hema.to | MedTech | Germany | 2023 |
| Infermedica | SaaS | Poland | 2020 |
| Medicilio | Healthcare | Italy | 2023 |
| Paloma Health | Healthcare | United Kingdom | 2024 |
| Parto | Fintech | Germany | 2024 |
| PeakData | SaaS | Switzerland | 2022 |
| Sanome | MedTech | United Kingdom | 2021 |
| Sanvivo | SaaS | Germany | 2023 |
| Spotlight Medical | MedTech | France | 2024 |
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Formel Skin | Healthcare | Germany | 2021 | 2025 | Trade Sale | – | |
| Gleamer | MedTech | France | 2023 | 2026 | Trade Sale | – | |
| Siilo | TMT | Netherlands | 2020 | 2022 | Trade Sale | – |
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Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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