What Tenmile does

Tenmile is an Australian health technology venture capital firm that invests from seed through commercialisation in Australian life sciences, biotech, medtech, and digital health companies. The firm is a wholly-owned subsidiary of Tattarang, one of Australia's largest private investment groups with more than $35 billion of assets under management, and operates from a dedicated $250 million evergreen fund. Tenmile's investment thesis spans six focus areas — novel therapeutics, precision medicine, diagnostics and devices, digital health and AI, platform technologies, and enabling tools — with a portfolio of more than 30 companies including AdvanCell, Lumos Diagnostics, Emyria, Perx Health, CurveBeam AI, Mindset Health, Sweetch, Verge Genomics, and LimmaTech Biologics.

Tenmile does not develop proprietary technology. Its core product is venture capital investment services, delivered alongside active portfolio support: talent hiring, international partner introductions (US/EU), regulatory pathway navigation, clinical and commercial strategy input, and preparation for growth stages from seed through to exit. The team spans Perth (HQ), Melbourne and Sydney, and combines MDs, PhDs, and operating executives drawn from Roche-Genentech, Telix Pharmaceuticals, Argenica Therapeutics, KPMG, PwC, EY, Main Sequence Ventures, and Bank of America Merrill Lynch.

Tenmile's business model is an evergreen venture fund: Tattarang provides committed capital, returns from portfolio exits are reinvested into new generations of startups rather than distributed to external limited partners, and there are no external LPs and no public revenue disclosure. The firm earns returns through capital appreciation and exits of portfolio companies. Deal flow and ecosystem reach are reinforced by partnerships with AusBiotech (strategic industry partnership announced May 2026), Brandon Capital (Healthtech Muster co-host), MTPConnect (BIO International delegation coordinator), and the Minderoo Foundation (philanthropic alignment via parent Tattarang). Tenmile participates in international platforms such as BIO International Convention 2026 to connect Australian portfolio companies to global partners across more than 100 countries.

Name

Tenmile

Legal name

Tenmile Ventures Pty Ltd

Website

https://tenmile.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Tenmile is an Australian health technology venture capital firm backed by Tattarang's $250 million evergreen fund, investing from seed through commercialisation in Australian life sciences, biotech, medtech, and digital health companies.

Ownership category

akta.pro rank

Product category

Healthcare Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990)

SIC

Investors, Nec (6799), Investment Advice (6282)

akta.pro primary industry

Corporate Fintech / Insurtech CVC (Financial-services-led CVC) (FSANAHAK)

akta.pro secondary industry

Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access) (FSAGAEAL)

Keywords

• Health technology investing
• Life sciences venture capital
• Australian biotech funding
• Seed to growth capital
• Medtech investment

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Venture Capital Returns: Tenmile generates returns through equity investments in early to mid-stage Australian life sciences companies. As an evergreen fund model, returns are reinvested into backing new generations of startups rather than paying out to investors. Revenue is derived from capital appreciation and exits of portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Tenmile is a dedicated Australian health technology venture capital firm that invests seed through growth capital into life sciences startups developing novel therapeutics, medical devices, diagnostics, and digital health solutions. Portfolio companies receive hands-on strategic support including talent introductions, regulatory pathway guidance, and access to global partners and markets, with returns reinvested under an evergreen fund structure.

Product overview

Tenmile is a health technology venture capital firm that operates as a single, unified investment platform rather than a product-based company. Their core offering is venture capital investment services, providing capital, strategic guidance, and ecosystem support to portfolio companies across the life sciences sector. The firm has an evergreen business model that keeps returns in the fund to back new generations of Australian life sciences startups. Their investment focus spans six areas including novel therapeutics, precision medicine, diagnostics and devices, digital health and AI, platform technologies, and enabling tools. They support companies from seed stage through to commercialization, offering strategic guidance, global market access, talent networks, and capital beyond seed funding.

Differentiator

Problem solved

Functional benefit

Products and services

• Venture Capital Investment Services Seed to growth-stage equity investment and active portfolio support for Australian life sciences startups developing novel therapeutics, precision medicine, diagnostics and devices, digital health/AI, platform technologies, and enabling tools, including talent introductions, regulatory pathway navigation, and global market access support through an evergreen fund model.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• AusBiotechcoreStrategic or Co-development Partner · 22 May 2026Strategic partnership announced during AusMedtech Day Two to support Australia's homegrown life sciences innovation. The collaboration combines resources and expertise to accelerate and strengthen the Australian life sciences sector, signalling a coordinated industry effort to foster domestic innovation in medtech and life sciences.
• Brandon CapitalcoreGTM or Marketing PartnerCo-host of the Healthtech Muster event together with Tenmile, representing a collaborative ecosystem approach to supporting Australian healthtech innovation.
• MTPConnectminorGTM or Marketing PartnerMTPConnect coordinates the wider Australian delegation at the BIO International Convention 2026. Tenmile participated as part of this coordinated delegation showcasing Australian life sciences innovation.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Brandon Capital: Australia's leading dedicated life-sciences VC manager, operating the Medical Research Commercialisation Fund and targeting early-to-mid-stage Australian and NZ biotech/medtech. Direct peer given overlapping mandate, geography, and co-investment activity with Tenmile (AdvanCell, Healthtech Muster).
• Main Sequence Ventures: Australia's science- and deep-tech-focused VC firm, founded by CSIRO. Comparable as a domestic investor in research-driven startups including healthtech, and as a place where Tenmile's team has prior experience (Dr. Joey Man).
• Artesian VC: Australian early-stage VC with a healthcare and life-sciences tilt, mentioned as a 2024 investor in Tenmile's data. Comparable as an Australian sector-adjacent VC operating in similar ticket sizes and stages.
• Uniseed: Australia/NZ university commercialisation-focused VC investing in early-stage life sciences and deep tech from research institutions. Comparable given overlap with Tenmile's academic tech-transfer pipeline and seed-stage orientation.
• CP Ventures: Australian early-to-growth VC investing across healthtech, biotech, and emerging tech. Comparable as a domestic fund operating in similar stages and sectors to Tenmile's portfolio.

Broad incumbents

• BioGeneration Ventures (BGV): European dedicated early-stage biotech VC manager. Comparable as a sector-specialist biotech investor with a clinical-stage focus, illustrating the global archetype Tenmile is replicating in Australia.
• SV Health Investors: US/EU healthcare and biotech VC that co-led AdvanCell's $112M Series C alongside Tenmile. Comparable as a global biotech investor with whom Tenmile co-invests and benchmarks on deal selection.
• Forbion: Established European life-sciences VC with a focus on therapeutic platforms. Comparable as a large, sector-specialist fund that competes for late-stage biotech opportunities globally.
• Atlas Venture: US biotech-focused early-stage VC building therapeutic companies. Comparable as a sector-specialist benchmark for Tenmile's approach of company-formation and active support in life sciences.

Others

• Minderoo Foundation: Australian philanthropic foundation (Forrest family) and sibling entity to Tattarang, with overlapping leadership (Dr. Steve Burnell, John Hartman). Comparable as a sibling ecosystem participant funding health and biomedical initiatives that intersect with Tenmile's portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/tenmile

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments23 records

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

Frequently asked questions about Tenmile