Who is writing the cheques that fund Europe’s next generation of medicines? Based on fund size, assets under management, and portfolio size and value, we’ve mapped the 50 most important biotech investors on the continent in 2026, from deep-pocketed Nordic giants to specialist French VCs and pan-European growth funds.

Criteria: fund size, AUM, portfolio size and value. Explore the full interactive map at map.flot.bio.

Presented by Avance. How to prepare your biotech for VC investment: https://lnkd.in/ePNkRkq5

Why European Biotech Investment Has Never Mattered More

Europe has produced some of the most consequential drug discoveries of the past decade. But great science needs great capital behind it. The investors on this list are the ones backing Europe’s most promising private biotechs, from seed rounds to late-stage crossover financings, and shaping which technologies reach patients.

Here are the 50 investors defining European biotech in 2026, mapped across the continent.

United Kingdom 🇬🇧

4Bio Capital

A London-based venture fund dedicated to biotech and life sciences, 4Bio invests across Europe with a focus on companies developing innovative medicines for serious diseases. Known for taking early positions in companies that go on to achieve significant clinical and commercial milestones.

Abingworth

One of the most established names in European life sciences investing, Abingworth has been backing biotech since 1973. With offices in London and the US, the firm operates across the full investment spectrum, from venture to public market investing, making it one of the most versatile players in the sector.

Advent Life Sciences

A UK-based venture capital firm focused on early-stage life sciences companies. Advent has a strong track record of building companies from the ground up, with a portfolio spanning therapeutics, diagnostics, and medical devices across Europe and the US.

Brandon Capital

An investor in early and growth-stage biotech and medtech companies, Brandon Capital brings hands-on operational expertise alongside its capital, a model that resonates particularly well with founder-led companies at critical inflexion points.

Epidarex Capital

A transatlantic early-stage fund with a strong presence in Scotland and the UK, Epidarex focuses on undiscovered innovation emerging from academic institutions outside the traditional biotech hubs. Its model of identifying overlooked science gives it a differentiated deal flow.

Medicxi

Founded by former Index Ventures partners, Medicxi operates as a specialist life sciences fund with a strong bias toward science-first companies. The firm has built a reputation for rigorous diligence and constructive board-level involvement, with a portfolio spanning Europe and the US.

SV Health Investors

A transatlantic life sciences investor with deep roots in the UK, SV Health backs companies from Series A through to IPO across therapeutics and healthcare. The firm’s network and experience navigating both European and US markets is a key asset for its portfolio companies.

Syncona

Syncona occupies a unique position in European biotech: it is both a listed investment company and an active company builder. Syncona creates, funds, and builds life sciences businesses, often from academic spinouts, with a particular strength in cell and gene therapy.

Ireland 🇮🇪

Seroba

An Irish life sciences VC investing in early and growth-stage European biotech and medtech, Seroba has quietly built an impressive portfolio of companies addressing serious diseases. Based in Dublin, it brings a valuable perspective to the pan-European funding landscape.

France 🇫🇷

AdBio Partners

A French venture fund focused on biotech and digital health, AdBio invests in innovative companies developing therapeutics and health technologies. The fund is well connected within the French life sciences ecosystem and has strong ties to academic and hospital research centres.

Andera Partners

One of France’s most active life sciences investors, Andera Partners backs early- to late-stage companies across biopharma, medtech, and digital health. The firm manages multiple funds and has a track record of successful exits that spans both trade sales and public listings.

BPIFrance InnoBio

The dedicated life sciences investment arm of BPIFrance, France’s public investment bank, InnoBio provides crucial early-stage capital to French biotech companies that might otherwise struggle to attract purely private funding. Its involvement often acts as a signal that attracts co-investors.

Jeito Capital

A growth-stage life sciences fund based in Paris, Jeito was founded with a mandate to invest in European and Israeli biotech companies at Series B and beyond. Its large fund size and focus on late-stage rounds fill a genuine gap in the European funding landscape.

We chatted with Pascal Touchon on the show. Watch the full episode here.

For a deep dive on the evolution of cell therapy, also check out our short blog based on this episode: From Breakthrough to Maturity: How Cell Therapy Is Evolving

Kurma Partners

A Paris-based venture fund investing in early-stage European biotech and medtech, Kurma has a strong track record of building companies from inception. The firm’s deep scientific networks and long-standing relationships with European research institutions give it a consistent pipeline of high-quality opportunities.

Merieux Equity Partners

A Lyon-based life sciences investor backed by the Mérieux family, one of France’s most storied names in biotech and diagnostics. Merieux Equity Partners focuses on early-stage innovative companies across therapeutics and diagnostics, bringing both capital and a century of life sciences expertise to its portfolio.

OMNES Capital

OMNES manages a broad portfolio of private equity and venture assets, with a dedicated life sciences strategy that invests in innovative European healthcare companies. The firm brings both capital and operational support to its portfolio companies.

Sanofi Ventures

The corporate venture arm of Sanofi, one of Europe’s largest pharmaceutical companies. Sanofi Ventures invests in early-stage biotech companies aligned with Sanofi’s strategic therapeutic priorities, and carries the additional appeal of a potential acquirer or partner behind the cheque.

Seventure Partners

A French VC with a distinctive dual focus on life sciences and digital technology, Seventure is particularly well known for its microbiome-focused fund, one of the first of its kind globally. Its willingness to invest in less conventional areas of biology is a genuine differentiator.

Sofinnova Partners

One of Europe’s oldest and most respected life sciences VC firms, Sofinnova Partners has been investing in biotech since 1972. With multiple funds spanning different stages and geographies, the firm has an unparalleled track record of building successful European and global biopharmaceutical companies.

We chatted with Antoine Papiernik, chairman of Sofinnova. Watch the full episode here.

Benelux 🇳🇱🇧🇪

BGV (BioGeneration Ventures)

A Dutch early-stage life sciences venture fund, BioGeneration Ventures focuses on backing innovative biotech and medtech companies emerging from the Netherlands and the broader European research ecosystem. BGV is known for its close relationships with Dutch universities and research institutes, giving it a consistent pipeline of high-quality spinout opportunities.

BioMed VC

A European life sciences venture fund backing innovative therapeutics companies, BioMed VC focuses on companies with strong scientific foundations and clear paths to clinical and commercial value creation.

Bioqube Ventures

A Belgian venture fund investing in early-stage life sciences companies, Bioqube is closely associated with the Johnson & Johnson Innovation ecosystem and the Janssen campus in Beerse. The fund provides capital and access to one of the most valuable life sciences networks in Europe.

Droia Ventures

A Belgian venture capital firm focused on oncology, Droia invests exclusively in companies developing novel cancer therapies. Its sector specialisation gives portfolio companies access to a deeply experienced oncology network alongside the capital.

EQT Life Sciences

The life sciences investment arm of EQT, one of Europe’s largest private equity firms. EQT Life Sciences, formerly LSP (Life Sciences Partners), is one of the most active and experienced biotech investors on the continent, with a multi-decade track record and billions under management.

Forbion

A leading European life sciences venture capital firm based in the Netherlands, Forbion manages multiple funds and has backed some of the continent’s most successful biotech companies. The firm’s deep scientific expertise and transatlantic network make it one of the most sought-after lead investors in European biotech.

We chatted with co-founders Sander van Deventer and Sander Slootweg.

Gilde Healthcare

A Utrecht-based healthcare investor with over $3 billion in AUM, Gilde Healthcare is one of the most substantial life sciences investors in the Benelux region. The firm backs companies developing innovative therapeutics and healthcare solutions across Europe.

Inkef Capital

The venture capital arm of ABN AMRO bank, Inkef invests in early and growth-stage life sciences and technology companies in the Netherlands and beyond. Its financial backing from one of the Netherlands’ largest banks gives it stability and long-term investment horizons.

M Ventures

The strategic corporate venture arm of Merck KGaA, M Ventures invests in early-stage companies across life sciences, materials science, and technology. For biotech founders, M Ventures brings not just capital but access to Merck’s global commercial infrastructure and R&D capabilities.

V-Bio Ventures

A Belgian early-stage life sciences fund with a focus on Benelux-based innovation, V-Bio backs companies emerging from the region’s strong academic and research ecosystem. The firm plays an important role in translating Flemish and Belgian science into investable biotech companies.

We chatted with the co-founder and Managing Partner, Christina Takke. Watch the full episode here.

Germany 🇩🇪

Apollo Health Ventures

A Berlin-based fund focused on longevity and ageing biology, Apollo Health Ventures backs companies developing therapies that target the fundamental mechanisms of ageing. It’s a distinctive and forward-looking investment thesis that positions the firm well for the next wave of geroscience innovation.

Boehringer Ingelheim Venture Fund

The strategic corporate venture arm of Boehringer Ingelheim, one of the world’s largest privately held pharmaceutical companies. The fund invests in early-stage companies in areas aligned with Boehringer’s R&D priorities, offering portfolio companies not just capital but access to one of pharma’s most respected drug development organisations.

Leaps by Bayer

The impact investment arm of Bayer AG, Leaps by Bayer makes bold, long-term bets on transformative life sciences companies. With a mandate to invest in breakthroughs that could fundamentally change medicine, from cell therapy to microbiome science, Leaps operates with a conviction and time horizon that purely financial investors rarely match.

MIG Capital

A German investment firm with dedicated life sciences funds, MIG Capital has been one of the most important early-stage backers of German and European biotech for two decades. The firm’s portfolio includes several landmark successes, including an early investment in BioNTech.

TVM Capital

A transatlantic venture fund with a long history of backing European and North American biotech companies, TVM Capital brings deep sector expertise and a strong cross-border network. The firm’s experience navigating both European and US drug development and capital markets is a key asset for its portfolio companies.

Switzerland 🇨🇭

BB Biotech

A Swiss investment company listed on the Swiss, German, and Italian stock exchanges, BB Biotech invests exclusively in publicly listed biotech companies. Its focused strategy, long-term perspective, and deep scientific expertise have made it one of the most respected biotech investment vehicles in Europe.

HBM Healthcare Investments

A Swiss-listed investment company based in Zug, focused on the global healthcare and biotech sector. HBM Healthcare backs both private and public companies across therapeutics, medtech, and diagnostics, with a dual public/private mandate and global reach that make it one of the most flexible and well-resourced investors on this list.

Nextech Invest

A Zurich-based healthcare investment firm managing both public and private biotech assets, Nextech brings a distinctive combination of venture capital and public market expertise. The firm’s ability to invest across the public/private boundary gives it flexibility that purely venture-focused funds lack.

Novartis Venture Fund

The corporate venture arm of Novartis, one of the world’s leading pharmaceutical companies. Based in Basel, the fund manages over $750 million in committed capital and backs early-stage biotech companies globally, with a focus on novel therapeutics and platforms that address serious unmet medical needs.

Pureos Bioventures

A Zurich-based life sciences fund with $370 million in AUM, Pureos Bioventures invests in innovative European biotech companies developing differentiated medicines for serious diseases. The fund brings a strong scientific perspective alongside its capital.

Roche Venture Fund

The corporate venture arm of Roche, one of the world’s largest pharmaceutical and diagnostics companies. Based in Basel, the Roche Venture Fund invests in early-stage companies in areas of strategic interest to Roche, and carries the implicit possibility of a deeper partnership or acquisition down the line.

Nordics & Scandinavia 🇸🇪🇩🇰🇳🇴🇫🇮

Eir Ventures

A Nordic life sciences venture fund investing in early-stage companies across Scandinavia and beyond. Eir backs science-driven companies with the potential to address serious unmet medical needs, with a particular strength in the Finnish and broader Nordic ecosystem.

Flerie

A Swedish investment company focused on life sciences, Flerie invests in both public and private biotech companies with a long-term, conviction-driven approach. The firm’s flexible mandate, spanning early venture to public equities, allows it to support companies across their entire development journey.

Hadean Ventures

A Norwegian life sciences fund investing in early and growth-stage biotech companies with Nordic roots. Hadean is one of the most active investors in the Norwegian biotech ecosystem and plays an important role in building the region’s life sciences infrastructure.

HealthCap

One of Europe’s most experienced life sciences venture funds, HealthCap has been investing in Nordic and European biotech since 1996. The firm has backed numerous companies that have gone on to achieve significant exits and public listings, and remains one of the most respected names in the sector.

Lundbeckfonden BioCapital

The biotech investment arm of the Lundbeck Foundation, one of Denmark’s most significant philanthropic organisations. Based in Copenhagen, Lundbeckfonden BioCapital backs innovative life sciences companies with a particular focus on neuroscience and rare diseases, areas that reflect the foundation’s deep scientific heritage.

Novo Holdings

The investment arm of the Novo Nordisk Foundation, and one of the most powerful forces in global biotech investing. Novo Holdings manages assets exceeding $150 billion and invests across venture, growth, and public markets. For any European biotech, having Novo Holdings on the cap table is a major signal of quality.

We chatted with Naveed Siddiqi of Novo Holdings. Check out the full episode.

Sound Bioventures

A Nordic life sciences investor backing early-stage biotech companies across Scandinavia. Sound Bioventures brings both capital and hands-on scientific and operational support to help companies navigate the critical early stages of drug development.

Sunstone Life Science Ventures

A Danish venture fund focused on early-stage life sciences companies, Sunstone has a strong track record of backing Nordic biotech from inception through to exit. The firm’s deep relationships within the Danish and broader Scandinavian ecosystem give it a consistent pipeline of high-quality opportunities.

Italy 🇮🇹

Angelini Ventures

The venture arm of Angelini Industries, one of Italy’s most prominent family-owned healthcare groups. Based in Rome, Angelini Ventures manages approximately $348 million in AUM and invests in innovative life sciences companies across Europe, with a focus on neuroscience, rare diseases, and digital health.

Spain 🇪🇸

Asabys Partners

A Barcelona-based life sciences venture fund investing in early-stage biotech and medtech companies in Spain and beyond. Asabys is one of the most active investors in the Iberian life sciences ecosystem and plays a key role in channelling capital into Spanish biotech innovation.

What These 50 Investors Tell Us About European Biotech in 2026

Looking across the full list, several patterns define the European investment landscape right now:

The Nordics punch far above their weight. Novo Holdings alone manages more assets than many national biotech ecosystems. Add HealthCap, Sunstone, Flerie, and the others, and Scandinavia emerges as arguably the most capital-efficient biotech investment region in the world relative to its size.

Corporate venture is everywhere. Roche Venture Fund, M Ventures, Sanofi Ventures, Boehringer Ingelheim Venture Fund, and Leaps by Bayer all appear on this list. Strategic capital from pharma has never been more important, and for founders, it brings more than money.

France has built a serious VC ecosystem. With Sofinnova, Jeito, Andera, Kurma, Seventure, and BPIFrance all active, France now has the depth of investor infrastructure to support companies from seed through to late-stage growth, something that was much harder to say a decade ago.

The gap between early and late stage is closing. Funds like Jeito Capital and Novartis Venture Fund are specifically designed to deploy significant capital at the growth stage, filling the gap that has historically forced European companies to list early or seek US funding. That gap is narrowing, and it’s good news for the whole ecosystem.

Specialist beats generalist. The most respected names on this list — Droia in oncology, Apollo Health Ventures in longevity, Syncona in cell and gene therapy — are those with genuine domain conviction. In a competitive deal environment, founders increasingly choose investors who truly understand their science.

Criteria: fund size, AUM, portfolio size and value. Presented by Avance, Europe’s premier life sciences advisory boutique. Explore the full interactive map at map.flot.bio.