Heal Capital
Heal Capital is a Berlin-based venture capital fund manager investing €1–5M in European HealthTech startups from Pre-Seed to Series A. Backed by 25+ health insurers and the EIF, it combines capital with curated access to senior healthcare operators and enterprise customers.
- Company typePrivate
- Founded2021
- HeadquartersBerlin, Germany
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Heal Capital does
Heal Capital is a Berlin-based venture capital fund manager (heal.capital Management GmbH) specializing exclusively in European HealthTech. Founded in 2019, the firm invests at Pre-Seed to Series A stages with €1–5M ticket sizes, focusing on software, AI, and digitally-enabled care models while excluding therapeutics, drug discovery, and pure hardware. The fund is registered as an alternative investment fund manager (AIFM) with BaFin under §2(4) KAGB and manages two successor funds: heal.capital I and the SFDR Article 8-classified heal.capital II. As of 2026, AUM exceeds €200M, backed by a consortium of 25+ European private health insurers (AXA, Allianz, DKV, ERGO, Gothaer, Signal Iduna, among others) and the European Investment Fund (EIF).
The fund's core proposition combines capital with curated market access. Portfolio companies gain introductions to the LP network as potential enterprise customers and distribution partners, supported by an Innovation Council of senior operators including the CEOs of Charité, B. Braun, and Sana Kliniken AG, the President of the German Medical Association, and a Member of the German Bundestag. The active portfolio spans 20+ companies across Germany, France, the UK, and the Netherlands (e.g., Infermedica, Hypervision Surgical, Paloma Health, Ditto, Gleamer), with four exits to date including Gleamer's sale to RadNet for up to €230M.
Revenue is generated through the standard VC model — annual management fees on committed/deployed AUM plus carried interest on realized returns above the hurdle. The firm deploys capital through direct sourcing, open Typeform pitch submissions, and LP referrals, and operates as lead or co-lead investor. Team composition includes two Founding Managing Partners (Eckhardt Weber, Christian Lautner), a Founding Partner (Dr. Markus Müschenich), a four-person Investment Team, Finance & Operations, two Venture Partners, and an Engineering Fellow.
Heal Capital firmographics
Firmographics- Name
- Heal Capital
- Legal name
- heal.capital Management GmbH
- Website
- https://healcapital.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Heal Capital is a Berlin-based venture capital fund manager investing €1–5M in European HealthTech startups from Pre-Seed to Series A. Backed by 25+ health insurers and the EIF, it combines capital with curated access to senior healthcare operators and enterprise customers.
- Ownership category
- akta.pro rank
Heal Capital industry classification
Industry- Product category
- HealthTech Venture Capital / Fund Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Impact Investment & Development Investment Funds (BPADACAO)
Keywords
Where Heal Capital is headquartered
LocationHeadquarters
- HQ city
- Berlin
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
Heal Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund Management: Heal Capital generates revenue through management fees charged on the assets under management (AUM) of its funds, and through carried interest (performance fees) realized when portfolio companies achieve successful exits. This is the standard VC fund model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Pre-Seed to Series A investments |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Heal Capital product offering
Product offeringCore offering
Heal Capital is a European venture capital fund that invests €1–5M tickets into Pre-Seed to Series A HealthTech startups focused on software, AI, and digitally-enabled care models. The fund acts as lead or co-lead investor and offers portfolio companies access to a network of 25+ European private health insurer and institutional healthcare LPs, plus an Innovation Council of healthcare, scientific, and political experts. The fund is managed by heal.capital Management GmbH and is registered as an AIFM with BaFin under the German Investment Code (KAGB).
Product overview
Heal Capital is a venture capital fund (not a product company) that operates as an investment vehicle for HealthTech startups. The fund focuses exclusively on digital health technologies, software, AI, and digitally-enabled care models. The fund provides funding (€1-5M ticket size) from Pre-Seed to Series A stages, with European geographic focus. The fund is managed by heal.capital Management GmbH and is registered as an alternative investment fund manager with BaFin under the German Investment Code (KAGB).
Differentiator
Problem solved
Functional benefit
Products and services
- Heal Capital Fund (heal.capital I & heal.capital II) A European venture capital fund dedicated exclusively to HealthTech that invests €1–5M tickets into Pre-Seed to Series A startups focused on software, AI, and digitally-enabled care models, acting as lead or co-lead investor. For founders of European HealthTech startups seeking capital, market access, and regulatory expertise.
Quantifiable outcome
- Portfolio companies gain access to millions in ARR through Heal Capital's network connections.
Companies that use Heal Capital
Customer profileNamed customers5 records
Segments1 record
Ideal customer profiles2 records
Heal Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Heal Capital partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Heal Capital competitors and assessment
Company assessmentDirect peers
- Creandum: Nordic-anchored early-stage VC with active digital health investments across Europe. Comparable stage and HealthTech exposure, though broader tech mandate and Nordic bias.
- Wellington Partners: Munich-based European early-stage VC with a dedicated medical technology / digital health practice. Comparable in stage, German/European focus, and healthcare specialization.
- Earlybird Venture Capital: Berlin-headquartered pan-European early-stage VC with a long-standing digital health investment practice. Comparable to Heal Capital in stage, DACH focus, and HealthTech specialization; competes for similar founders and LP mindshare in the German market.
- Speedinvest: Austrian early-stage VC with a dedicated Health & Wellbeing vertical investing across Europe. Comparable to Heal Capital in stage (Pre-Seed to Series A), geography (DACH + broader Europe), and ticket size — making it the most directly comparable competitor for HealthTech deal flow in Europe.
- HV Capital: Cologne-headquartered European VC with healthcare as one of its core verticals across Pre-Seed to Growth stages. Comparable to Heal Capital in DACH focus and healthcare exposure, though broader sector mandate (also consumer, fintech, enterprise software).
- Calm/Storm Ventures: Vienna-based health-focused early-stage VC investing across Europe. Highly comparable in HealthTech-only thesis, European footprint, and early-stage tickets.
- Angelini Ventures: Corporate-affiliated European HealthTech investor (Angelini Group) that co-invested alongside Heal Capital in Hypervision Surgical. Comparable in HealthTech-only thesis and European early-stage tickets.
- btov Partners: European VC with a dedicated Digital Health fund and presence in Berlin, Munich, and Zurich. Comparable to Heal Capital in early-stage HealthTech focus, ticket size, and European geographic scope.
- Ananda Impact Ventures: Munich-based early-stage impact VC with significant HealthTech exposure. Comparable in stage, geography (DACH), and impact/ESG orientation (similar to Heal Capital's SFDR Article 8 positioning).
Broad incumbents
- Acton Capital: Munich-based growth-stage VC with consumer and healthcare investments. Overlaps with Heal Capital in DACH focus and healthcare exposure but targets larger later-stage rounds.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Heal Capital social profiles
Digital presenceHeal Capital compliance and trust
Trust signalCompliance4 records
Heal Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Heal Capital leadership team
Management profileNumber of profiles
Profiles11 records
Heal Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Heal Capital M&A and investment
M&A and investmentM&A
Investments38 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Heal Capital
What does Heal Capital do?
Heal Capital is a European venture capital fund that invests €1–5M tickets into Pre-Seed to Series A HealthTech startups focused on software, AI, and digitally-enabled care models. The fund acts as lead or co-lead investor and offers portfolio companies access to a network of 25+ European private health insurer and institutional healthcare LPs, plus an Innovation Council of healthcare, scientific, and political experts. The fund is managed by heal.capital Management GmbH and is registered as an AIFM with BaFin under the German Investment Code (KAGB).
Is Heal Capital a public or private company?
Heal Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Heal Capital founded?
Heal Capital was founded in 2021. It employs 11 to 50 people.
Where is Heal Capital based?
Heal Capital is headquartered in Berlin, Germany, in the Europe region.
How does Heal Capital make money?
One revenue line is on record: fund Management.
Who are Heal Capital's main competitors?
Direct peers on record are Creandum, Wellington Partners, Earlybird Venture Capital, Speedinvest, HV Capital, Calm/Storm Ventures, Angelini Ventures, btov Partners and Ananda Impact Ventures. Acton Capital is listed as a broad incumbent.
Does Heal Capital have an API?
No public API is recorded for Heal Capital.
What industry is Heal Capital in?
Heal Capital's product category is HealthTech Venture Capital / Fund Management. Its primary akta.pro industry code is BPADACAO, Impact Investment & Development Investment Funds. Its NAICS code is 525 and its SIC code is 6282.