Amsterdam-based NLC, a European healthtech VC, announced on Monday, June 26, that it has completed the initial close of the NLC Health Impact Fund against a €100M target.
NLC says it will deploy the capital to 40 enterprises of varied maturity levels, providing both initial and follow-on finance.
Hidde Ten Brink, NLC’s Investment Director, says, “This achievement marks the strong confidence of our investors in NLC’s expertise to leverage opportunities in Europe’s healthtech industry and in its highly selective investment process and track record.”
Entrepreneurs in European healthtech support the Fund
According to NLC, the raised capital is completely the result of private investors’ confidence in the firm’s ability to benefit patients and the healthcare system.
The NLC Health Impact Fund provides investors with access to a diverse portfolio of enterprises in biotech, medtech, green health, and digital health.
The lack of qualified personnel and rising healthcare demand are exerting increasing strain on Europe’s healthcare systems. Innovation could offer a solution, but too few ideas reach the market due to a lack of early-stage funding and expertise.
By giving the most promising healthcare technologies early-stage funding, the NLC Health Impact Fund seeks to close these gaps.
The NLC Health Impact Fund’s initial close exceeded the fund management team’s projections.
Bert-Arjan Millenaar, CEO and Founder of NLC, says, “This proves that the right venture-building model, together with NLC’s ecosystem of healthcare stakeholders, can make early-stage healthcare innovations investible again.”
The Fund is anticipated to close again in September 2023. This would enable additional investments in 40 other ventures in its portfolio, and NLC is certain that institutional investors will follow suit, which would be yet another proof of the viability of its venture development methodology.
About NLC
NLC aims to enhance health and make it accessible to all.
“By using entrepreneurship at scale, our unique NLC approach allows us to find inventions, and create and support ventures that have the potential to reach the patient,” says NLC.
It is a certified B Corp, supports UN SDGs 3, 9, and 17, and the fund is SDFR9 compliant.
NLC is expanding its activities to the US and the Gulf area to invest in early-stage technologies for a sustained patient impact, with a growing staff of more than 80 experts and over 110 portfolio businesses created across 11 European nations.
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