Earlybird Health completes final close of £148m fund

Earlybird Health, a division of VC firm Earlybird Venture Capital, has raised the final close of its €173m (£147.6m).

The fund is targeting European startups in the healthcare sectors, with an emphasis on digital health, diagnostics, medical devices, research and development tools and biopharma.

Based in Germany with a presence in London, Earlybird Venture Capital has backed a handful of British startups, including London-based fintech Sikoia, Cambridge-based diagnostics startup Sense and UK-founded cybersecurity unicorn Snyk.

“Innovation in the UK is second to none and is underpinned by world-class science,” said John Yianni, partner, Earlybird Health.

“We are committed to supporting the European startup ecosystem and fostering the development and growth of some of the world’s most exciting new companies who stand to positively impact the lives of millions of people across the globe in the future.”

The latest close included a €20m commitment from Sheffield-based investor British Patient Capital.

“We are delighted to be investing in Earlybird Health to support them in building out their healthcare investment strategy, especially within the UK,” said Christine Hockley, managing director for funds, British Patient Capital.

“The UK is a global centre for healthcare innovation, and this investment aligns with our strategy of increasing the sources of capital to innovative breakthrough companies within the sector.”