Nina Capital

What Nina Capital does

Nina Capital is a Barcelona-headquartered venture capital firm founded in 2019 by Marta G. Zanchi that invests exclusively at the intersection of healthcare and information technology. The firm operates as an Alternative Investment Fund Manager (AIFM) authorized and regulated by Spain's CNMV (Comisión Nacional del Mercado de Valores), managing three European Venture Capital Funds (EUVECAs): Fund I FCRE (2019 vintage, fully subscribed), Fund II FCRE (2021 vintage, fully subscribed), and Fund III FCRE (2025 vintage, currently in LP placement). It does not develop proprietary technology products; rather, it deploys LP capital into pre-seed to seed+ healthcare technology companies, writing tickets of €200k to €1,500k and operating as a lead or co-investor.

Nina Capital's business model is fund management revenue: the firm earns management fees on committed capital across its three vehicles, with carried interest on fund returns as the secondary value driver. Its "customers" are dual — portfolio companies (50+ invested since inception across nearly 20 countries) receive capital, strategic guidance, and access to the Founder & Partner Network; limited partners receive exposure to a specialized healthtech venture portfolio. The firm explicitly excludes drugs and vaccines from its thesis, focusing instead on healthcare tools (solutions helping healthcare organizations improve operations) and medical devices (diagnosis, treatment, mitigation, prevention).

The firm's go-to-market is direct origination through its website pitch form, inbound dealflow email, and a curated network of 9 full-time investment professionals spanning 12 nationalities. Core partnerships with WSGR, Google Cloud, NVIDIA, Microsoft (Azure), and AWS Activate provide portfolio companies with legal counsel, cloud credits, and AI/compute infrastructure — material differentiators versus generalist seed investors. Investment scope is Pan-European, United States, Israel, Canada, and Australia, supported by offices in Barcelona (HQ) and Palo Alto (US). Headcount is small (9 full-time) but operating leverage is meaningful given the fund-based revenue model.

Name

Nina Capital

Legal name

NINA CAPITAL SGEIC, S.A.

Website

https://nina.capital

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Nina Capital is a Barcelona-based venture capital firm founded in 2019 that invests exclusively at the intersection of healthcare and technology, writing €200k–€1,500k tickets at pre-seed to seed+ stages. The firm manages three EUVECA funds and has backed 50+ companies across nearly 20 countries.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Venture capital funding
• Healthcare technology investing
• Seed stage investment
• Alternative investment management
• Health tech venture capital

Headquarters

HQ city

Barcelona

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Fund Management: Nina Capital generates returns through managing three European Venture Capital Funds (EUVECAs) - Fund I (2019 vintage), Fund II (2021 vintage), and Fund III (2025 vintage). The firm is an authorized and regulated Alternative Investment Fund Manager (AIFM) by the CNMV in Spain.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Nina Capital is a specialized venture capital firm that invests exclusively at the intersection of healthcare and information technology. The firm manages three European Venture Capital Funds (EUVECAs) — Fund I (2019), Fund II (2021), and Fund III (2025) — and deploys pre-seed to seed+ tickets of €200k to €1,500k into need-driven healthcare technology founders. Beyond capital, the firm provides portfolio companies with strategic resources, operational playbooks, and network access through its Founder & Partner Network.

Product overview

Nina Capital is a specialized venture capital firm that does not offer traditional technology products or services. The firm exclusively invests at the intersection of healthcare and technology, supporting need-driven founders from pre-seed to seed+ stages. The firm's investment focus spans healthcare tools (solutions helping healthcare organizations improve their operations) and medical devices (solutions for diagnosis, cure, mitigation, prevention, or treatment of diseases). Nina Capital provides portfolio companies with strategic resources, operational support, and network access through their Founder & Partner Network, including strategic partnerships, operational playbooks, and investor network access. The firm manages three European Venture Capital Funds (EUVECAs): Fund I (2019), Fund II (2021), and Fund III (2025), with ticket sizes ranging from €200k to €1,500k.

Differentiator

Problem solved

Functional benefit

Products and services

• Nina Capital Fund I, FCRE European Venture Capital Fund (EUVECA) launched in 2019 as Nina Capital's inaugural fund vehicle, fully subscribed and used to deploy pre-seed to seed+ tickets of €200k to €1,500k into healthcare technology startups. The fund is offered to Limited Partners (LPs) as a regulated investment vehicle authorized by the CNMV in Spain.
• Nina Capital Fund II, FCRE Second European Venture Capital Fund (EUVECA) managed by Nina Capital, 2021 vintage, fully subscribed and used to continue deploying pre-seed to seed+ tickets into healthcare technology startups. Offered to Limited Partners as a regulated EUVECA investment vehicle.
• Nina Capital Fund III, FCRE Third European Venture Capital Fund (EUVECA) managed by Nina Capital, 2025 vintage, registered with CNMV in 2024 and launched in January 2025. Currently in its LP placement period, open to Limited Partners, and intended to continue the firm's pre-seed to seed+ healthcare technology investment strategy with ticket sizes of €200k to €1,500k.

Quantifiable outcome

• Invested in 50+ companies across nearly 20 countries since 2019
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• WSGR (Wilson Sonsini Goodrich & Rosati)coreImplementation/ SI/ Consulting PartnerLegal counsel partner providing legal services and support to Nina Capital's portfolio companies. WSGR has offices in Palo Alto and London, serving as a key advisor for startups in corporate and securities matters.
• Google CloudcoreTechnology or IntegrationStrategic partner providing cloud infrastructure and technology services to portfolio companies through Google Cloud's startup programs.
• NVIDIAcoreTechnology or IntegrationTechnology partner providing GPU computing resources and AI/ML infrastructure support for portfolio companies developing AI-powered healthcare solutions.
• MicrosoftcoreTechnology or IntegrationStrategic partner providing cloud services (Azure), developer tools, and enterprise software access through Microsoft's startup programs.
• Amazon AWS startupscoreTechnology or IntegrationTechnology partner providing cloud infrastructure credits and technical support through AWS Activate program for startup portfolio companies.
• OysterminorImplementation/ SI/ Consulting PartnerHR and employment platform partner helping portfolio companies manage global hiring and compliance.
• Ariston GroupminorGTM or Marketing PartnerCommunications and PR partner supporting portfolio companies with marketing and media relations.
• Ballou PRminorGTM or Marketing PartnerPR agency partner providing communications support for portfolio companies.
• AmendolaminorGTM or Marketing PartnerHealthcare-focused PR and communications agency partner for portfolio companies.
• LSI USA _ Europe SummitminorGTM or Marketing PartnerLife Science Intelligence partner providing conference and networking platform for healthcare technology companies.
• RocaJunyentminorImplementation/ SI/ Consulting PartnerSpanish law firm partner providing legal services with Natalia Marti Pico serving on Nina Capital's Board of Directors.

Scale indicators7 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Speedinvest: Speedinvest operates a dedicated Digital Health vertical from Europe and invests at pre-seed to Series A in healthcare/tech startups, making it the closest like-for-like competitor to Nina Capital in stage, geography, and vertical focus.
• Earlybird Venture Capital: Earlybird runs a dedicated health tech fund investing at early stages across Europe, with similar healthcare+technology thesis and ticket sizes to Nina Capital.
• Anthemis: Anthemis is a digital health-focused VC firm that invests in early-stage healthtech startups, sharing Nina's vertical specialization and pre-seed/seed stage orientation.
• Rock Health: Rock Health is a US-based digital health venture fund investing at seed stage in healthcare transformation companies, comparable in vertical focus and early-stage deployment.
• Heal Capital: Heal Capital is a European VC focused on digital health at early stage, with a similar pre-seed to Series A approach and healthcare-only thesis to Nina Capital.
• btov Partners: btov Partners is a European early-stage VC with a digital health vertical and similar ticket sizes, making it directly comparable on stage, geography, and vertical specialization.
• Creandum: Creandum is a leading European early-stage VC that has built health/tech positions, comparable to Nina on stage and regional focus though broader in sector coverage.

Broad incumbents

• Octopus Ventures: Octopus Ventures is a larger UK-based VC with a dedicated health team investing across multiple stages, overlapping with Nina at seed but operating at materially greater scale.
• Andreessen Horowitz (Bio/Health): a16z's bio/health fund invests in healthcare and biology at early stages with much larger check sizes, representing a much larger incumbent pursuing the same vertical thesis.
• HV Capital: HV Capital is a large German/European VC with healthcare exposure at early stages, overlapping with Nina on region and stage but operating as a generalist with greater AUM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ninacapital
• Xx.com/ninacapital

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments86 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nina Capital