What ABIES Capital does

ABIES Capital (杉盛資本股份有限公司) is a privately held, Taipei-based investment management firm focused exclusively on healthcare and biomedical startups. The firm operates a dual-track strategy combining a Fund of Funds vehicle that allocates capital to five top-tier U.S. healthcare-focused venture capital and private equity funds — three of which appear on TIME's 2025 list of the top 350 U.S. venture capital firms, where only 39 firms are healthcare-focused — with direct co-investment into Taiwanese and international healthcare startups spanning digital health, medical devices, and biotechnology. Portfolio holdings include Health2Sync (Huikang Biotechnology / 慧康生技, stock code 7851), a digital diabetes platform whose Insultrate software became Taiwan's first TFDA-approved digital therapeutic; Rakuten Medical, a photoimmunotherapy company developing the Alluminox platform with a planned 2028 FDA BLA submission; Maxima Biotech, a minimally invasive medical device manufacturer; and FaceHeart (鉅怡智慧), a contactless AI vital-sign monitoring company. Co-founders are Chuan-En Lin (CEO) and Chiun-Feng Hsiao (Chief Strategic Officer).

The firm's revenue model is conventional asset-management economics: management fees and carried interest from its Fund of Funds vehicles, equity returns from direct co-investments, and syndication-driven deal-sourcing fees through a healthcare startup investment platform that invites angel-investor participation. Distribution is entirely direct and relationship-led — a bilingual website, strategic alliances with Taiwan's top healthcare VC and PE funds, and targeted outreach to institutional LPs, family offices and angel investors; pricing and fund terms are not publicly disclosed. The firm's proprietary capabilities lie in post-investment operational support across R&D, regulatory affairs, patents, manufacturing, distribution, and finance, delivered through an advisory bench that combines CFA / CFP / CPB, FDA 510(k) third-party reviewer, IECEE Technical Assessor, and IP-strategy credentials rather than through any internally developed technology stack.

Notable 2025–2026 activity includes ABIES's participation in Health2Sync's USD 20 million Series C (March 2025), Health2Sync's Taiwan Emerging Stock Board listing (November 2025), the exclusive Alluminox licensing agreement between Rakuten Medical and Orient EuroPharma covering Taiwan, Malaysia, Singapore and the Philippines (July 2025), dual recognition on Forbes Asia's 100 To Watch 2025 list, and participation in Rakuten Medical's oversubscribed USD 100 million Series F (January 2026).

Name

ABIES Capital

Legal name

ABIES Capital Co.,Ltd.

Website

https://abies.com.tw

Company type

Private

Founded year

1905

Operating status

Operating

Short description

ABIES Capital (杉盛資本股份有限公司) is a privately held, Taipei-based investment management firm operating a healthcare-focused Fund of Funds into top U.S. healthcare VC/PE funds alongside direct co-investments and syndications in biotech, medtech and digital-health startups such as Health2Sync and Rakuten Medical.

Ownership category

akta.pro rank

Product category

Healthcare Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

akta.pro secondary industries

Corporate Finance & Capital Advisory (BPAHADAB), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Healthcare venture capital
• Fund of funds management
• Biomedical startup investment
• Asset allocation services
• Angel investor syndication

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund of Funds Management: ABIES Capital operates a Fund of Funds strategy, partnering with top U.S. healthcare-focused VC and PE funds. The firm earns management fees and carried interest by pooling capital from investors and allocating to underlying healthcare venture funds, generating returns through diversified exposure to global biotech and medtech innovation.
2. Direct Healthcare Startup Co-Investment: ABIES Capital co-invests directly in healthcare startup companies alongside syndicate partners, earning returns on equity exits. The firm also establishes healthcare startup investment platforms for broader investor participation, generating deal sourcing fees and investment management income.
3. Healthcare Startup Investment Platform: ABIES Capital maintains a healthcare startup investment platform enabling angel investors to participate in quality healthcare investments, serving as a crowdfunding/syndication vehicle for biotech and medical device startups seeking capital.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

ABIES Capital is a healthcare-focused asset management firm that operates a Fund of Funds strategy into top U.S. healthcare-focused VC and PE funds, combined with direct co-investment in biomedical startups (biotech, medtech, digital health). The firm also operates a healthcare startup investment platform that syndicates curated deals to angel investors. Portfolio companies receive strategic and operational support across R&D, patents, manufacturing, distribution, regulatory affairs, and finance.

Product overview

ABIES Capital (杉盛資本股份有限公司) is a healthcare-focused investment management firm that deploys a Fund of Funds strategy targeting U.S.-based healthcare VC and PE funds, combined with direct co-investment in biomedical startups. The firm invests in digital health platforms, medical devices, and biotech companies, with portfolio companies including Health2Sync (糖尿病管理平台, a digital health app with AI-powered insulin dose adjustment software) and investments in Rakuten Medical (Alluminox photoimmunotherapy platform) and Maxima Biotech (minimally invasive medical devices). The firm's core offering is its asset management platform for angel investors seeking exposure to healthcare innovation through syndicated deals and VC fund-of-funds structures.

Differentiator

Problem solved

Functional benefit

Products and services

• Healthcare Fund of Funds A Fund of Funds strategy that pools investor capital and allocates to five top U.S.-based healthcare-focused venture capital and private equity funds, providing diversified exposure to global biotech, medtech, and digital health innovation. Targeted at institutional investors, family offices, and high-net-worth individuals.
• Direct Healthcare Startup Co-Investment Direct equity co-investment in healthcare startups (biotech, medtech, digital health) through syndication with angel investors and VC partners; includes participation in funding rounds such as Rakuten Medical's USD 100M Series F and Health2Sync's USD 20M Series C, alongside strategic and operational support.
• Healthcare Startup Investment Platform (Angel Syndication) A healthcare startup investment platform that invites angel investors to participate in curated healthcare startup deals, providing co-investment syndicates and a communication channel between startups and angel investors; reduces individual investment risk through syndication.
• Portfolio Company Strategic and Operational Support Post-investment value-add support for portfolio healthcare startups across R&D, patents, manufacturing, distribution, regulatory affairs, and finance, drawing on ABIES advisors' expertise in FDA 510k, UL/IECEE regulatory processes, intellectual property strategy, and medical device commercialization.

Quantifiable outcome

• Three of five Fund of Funds healthcare VC partners named among top 350 U.S. venture capital firms by TIME — only 39 of the firms on this list are in the healthcare sector.
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered flagship and core.

• Rakuten Medical / Orient EuroPharma / Cyntec (Alluminox™ Licensing)flagshipStrategic or Co-development Partner · 26 June 2025Rakuten Medical, Inc. and Orient EuroPharma Co., Ltd. (OEP) signed an exclusive licensing agreement with Cyntec Co., Ltd. (an OEP affiliate) to co-develop and commercialize photoimmunotherapy products using Rakuten Medical's Alluminox™ platform in Taiwan, Malaysia, Singapore, and the Philippines. Cyntec leads development and regulatory approvals, with scientific and clinical support from Rakuten Medical. ABIES Capital participated in this signing dinner, highlighting its role in facilitating cross-border Japan-Taiwan biotech partnerships.
• Taiwan Top Healthcare VC/PE Funds AlliancecoreStrategic or Co-development Partner · 1 January 2025ABIES Capital establishes and expands alliances with Taiwan's top healthcare private equity and venture capital funds, creating a strategic alliance network for deal sourcing, co-investment, and cross-border healthcare investment collaboration. This is a core component of the firm's investment strategy alongside its U.S. Fund of Funds partners.
• Abbott (Health2Sync)flagshipStrategic or Co-development Partner · 1 January 2023Health2Sync (a portfolio company of ABIES Capital) partnered with global healthcare giant Abbott, integrating Abbott's diabetes monitoring solutions into Health2Sync's digital diabetes management platform to provide comprehensive blood glucose tracking, diet, and medication management.
• Sanofi (Health2Sync)flagshipStrategic or Co-development Partner · 1 January 2023Health2Sync partnered with Sanofi to integrate the SoloSmart™ smart insulin pen cap into its platform and to collaborate on securing National Health Insurance reimbursement for Insultrate (易速胰), Health2Sync's AI-powered insulin dose adjustment software — Taiwan's first TFDA-approved digital therapeutic.
• Japanese Kenpo (Employee Health Insurance) PartnerscoreChannel Partner/ Reseller/ Distributor · 1 January 2023Health2Sync entered Japan's Kenpo (Employee Health Insurance Association) market in 2023 with a Value-Based Healthcare model, providing personalized and real-time employee wellness services. The company partnered with 55+ enterprises and local governments including Mitsubishi Electric, Hitachi, NTT, Osaka City, and Yokohama City. This initiative generated doubled revenue for two consecutive years.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Taiwania Capital: Taiwan-based venture capital firm that led Health2Sync's USD 20M Series C alongside ABIES Capital. Focuses on technology and healthcare investments from Taiwan with cross-border reach, making it a direct competitor for Asia-Pacific healthcare deal flow.
• TaiAx Life Science Fund: Taiwan-based life sciences venture fund that co-invested with ABIES Capital in Rakuten Medical's USD 100M Series F. Operates a comparable thesis of backing Asian biotech/medtech with global ambitions, making it the closest direct peer in stage, geography, and mandate.
• CDIB Capital Group: Taiwan-based private equity and venture capital firm with healthcare and biotech allocation, competing for Asia-based LP capital and co-investment syndicates alongside ABIES Capital.
• Cathay Venture: Venture arm of Cathay Financial Holding and co-investor in Health2Sync's Series C. A Taiwan-based institutional VC with healthcare exposure that competes for the same Taiwanese startup deals and LP capital.
• BE Health: Healthcare-focused investor that co-invested with ABIES Capital in Health2Sync's USD 20M Series C. Operates a comparable Taiwan healthcare venture thesis with overlapping portfolio and co-investor relationships.

Broad incumbents

• OrbiMed Advisors: Global healthcare-dedicated investment firm across venture, growth, credit, and public equity. Represents the scaled institutional healthcare investment manager that ABIES Capital's U.S. healthcare VC FoF partners compete with at the fund-of-funds level.
• Hillhouse Capital: Asia-based, globally focused investment firm with meaningful healthcare allocation across venture and growth stages. Represents the scale of established Asia-rooted asset manager that ABIES Capital competes with for institutional healthcare mandates.
• RA Capital Management: U.S.-based healthcare-focused crossover investor with a dedicated Tech Fund and private equity offerings. Comparable to ABIES Capital's underlying U.S. healthcare VC FoF partners in mandate and serves as a benchmark for what ABIES aspires to channel LPs toward.

Others

• Pegatron Corporation (Corporate VC): Taiwan electronics manufacturer with strategic venture investments that co-invested in Health2Sync's Series C. Acts as a strategic/corporate LP into the same healthcare syndicates that ABIES Capital operates in.
• Wistron Corporation (Corporate VC): Taiwan-based global technology manufacturer with strategic venture activity that co-invested alongside ABIES Capital in Health2Sync's Series C. Functions as a corporate co-investor in the same healthcare deal syndicates rather than a competing VC manager.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about ABIES Capital