Sunstone Life Science Ventures
European early-stage life-science venture capital firm investing in companies developing novel therapeutics, diagnostics and medtech; the life-science arm that remained after the tech arm rebranded to Heartcore Capital in 2018.
Key facts
Recent exits
Coverage notes
3 funds tracked, 33 portfolio companies (13 active · 20 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
33 companiesFunds & portfolio
Every fund Sunstone Life Science Ventures has raised, with its portfolio companies. Hand-checked from public filings.
Sunstone Life Science Ventures VVC2021 · 5yr7 active · 1 realized
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech |  France | 2023 | |
| Biotech |  Netherlands | 2023 | |
| Biotech |  Italy | 2024 | |
| Biotech |  Belgium | 2023 | |
| Biotech | France | 2021 | |
| Biotech | Netherlands | 2022 | |
| Biotech |  Denmark | 2023 |
France· Entry 2023Netherlands· Entry 2023Italy· Entry 2024Belgium· Entry 2023France· Entry 2021Netherlands· Entry 2022Denmark· Entry 2023Realized
1 exit| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Biotech |  Germany | 2021 | 2024 | Trade Sale | – |
Sunstone Life Science Ventures IVVCHarvesting2015 · 11yr3 active · 6 realized
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech |  Sweden | 2020 | |
| Biotech | Sweden | 2016 | |
| Biotech |  Switzerland | 2020 |
Sweden· Entry 2020Sweden· Entry 2016Switzerland· Entry 2020Realized
6 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Biotech |  Finland | 2019 | 2021 | Trade Sale | – | ||
| Biotech | Denmark | 2015 | 2021 | IPO | – | – | |
| Biotech | Switzerland | 2015 | 2018 | Trade Sale | – | ||
| Biotech | Germany | 2015 | 2017 | Trade Sale | – | ||
| Biotech | Denmark | 2019 | 2024 | – | – | – | |
| Biotech | Denmark | 2019 | 2020 | Trade Sale | – |
Denmark· Entry 2019Sunstone Life Science Ventures IIIVCHarvesting2007 · 19yr3 active · 13 realized
Unrealized
3 held
UK
Realized
13 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| MedTech | Sweden | 2010 | 2016 | IPO | – | – | |
| MedTech | Sweden | 2010 | 2014 | IPO | – | – | |
| Pharma | Sweden | 2008 | 2019 | IPO | – | – | |
| Pharma | Denmark | 2010 | 2015 | IPO | – | – | |
| Biotech | Sweden | 2013 | 2015 | IPO | – | – | |
| Pharma | Denmark | 2010 | 2014 | IPO | – | – | |
| Biotech | Switzerland | 2005 | 2009 | IPO | – | – | |
| Biotech | Sweden | 2012 | 2014 | IPO | – | ||
| Biotech | Denmark | 2012 | 2020 | IPO | – | – | |
| Biotech | Denmark | 2007 | 2019 | Trade Sale | – | ||
| Biotech |  Ireland | 2013 | 2019 | – | – | – | |
| Biotech | Denmark | 2011 | 2017 | IPO | – | – | |
| Biotech | Germany | 2011 | 2022 | Trade Sale | – |
Ireland· Entry 2013Saved GPs appear in your watchlist, one click from your workspace.
About Sunstone Life Science Ventures
Sunstone Life Science Ventures is a pure-play Nordic life sciences venture capital firm with €500 million of cumulative assets across four funds as of December 2024 (Fund I €200 million 2007, Fund II €86 million 2007, Fund III €80 million 2012, Fund IV €92 million 2019), headquartered in Copenhagen at Frederiksberg. The firm was founded in 2007 as a spin-out from the broader Sunstone Capital platform, supported by InnovFin Equity under Horizon 2020 and EFSI. Sunstone Life Science Ventures has built 44 portfolio exits historically.
Investment thesis
Sunstone Life Science Ventures deploys capital through four life sciences funds (Fund I through IV), targeting early-stage life sciences therapeutics investments at preclinical to clinical-stage biotech with clear M&A or IPO exit paths. Sector focus spans biotechnology, therapeutics, pharmaceuticals, drug discovery, rare diseases and oncology. Geographic deployment is anchored in Nordic and broader European focus with selective US co-investments. The M&A-led exit strategy aligns with global pharma demand for late-preclinical and clinical assets.
Recent activity
Recent realised exits include medical devices (2024) and biotech (2024). Recent acquisitions include TargED Biopharmaceuticals (drug discovery, December 2025) and DiogenX Series A (biotech, 2024). The platform continues active deployment of Fund IV across the European life sciences ecosystem. Detailed buyer names and multiple data available on Pro at €29/month.
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Denmark·€93.0B
Denmark·€700MDenmark·€500MDenmark·€300M
Denmark·€107MDenmark·€80MDenmark·€5MDenmarkDenmarkDenmarkDenmark
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