Early-stage European women's health fund

Capital for the misunderstood.

We back founders building for conditions that affect women exclusively, disproportionately or differently. Pre-seed and seed, across Europe.

Read our thesis Join us

2
Focus areas
Europe
Pre-seed & seed
Women's
health first
Impact
with venture returns

A healthier
tomorrow
looks brighter
together.

We back founders building a healthier, fairer future for women.

From research to real-world solutions, we invest in bold ideas that put women's health where it belongs.

Our investment thesis

The problem

Misunderstood by medicine.

Medicine was built on a male default. What doesn't fit the default gets labelled 'atypical', and goes undiagnosed for years.

25%

more of their lives in poor health: women compared with men

9 yrs

average time a woman spends in poor health

56%

of the women's health burden comes from conditions more prevalent in women, presenting differently, or disproportionately

4 to 12 yrs

average time to an endometriosis diagnosis, a condition affecting an estimated 10% (190 million) of reproductive-age women

Source: McKinsey Health Institute and World Economic Forum, "Closing the Women's Health Gap", January 2024; WHO, Endometriosis fact sheet, October 2025.

The opportunity

Mispriced by markets.

The burden is large, the research share is small, and capital is only starting to move.

€900bn

a year: potential boost to the global economy by 2040 from closing the women's health gap

Source: McKinsey Health Institute and WEF, 2024 · converted from US dollars at €1 = $1.11

2%

of healthcare-related R&D targets women's health specifically

Source: McKinsey, 2022, cited by McKinsey Health Institute, 2024

€2.3bn

of venture capital into women's health in 2024: a record, and 55% more than in 2023

Source: SVB, Innovation in Women's Health 2025 · converted from US dollars at €1 = $1.11

Our read: capital is growing, but it is concentrated in later stages and in the US and UK. The gap is widest at pre-seed and seed, in Europe.

Timing

Why now

Buyers are already paying.

276 women's health exits from 2000 to 2024, over $100bn in value, 91% to strategic buyers.

Public money is moving.

Spain's Somos. Contamos. programme (June 2026) triples public R&D for women's health to €18m. Horizon Europe funds sex-specific cardiovascular research (€39.3m). Women TechEU backs women-led deep tech with €75k per startup.

Momentum is building.

England renewed its Women's Health Strategy in 2026 and the European Parliament wants an EU one. 200+ organisations have joined the WEF Global Alliance for Women's Health. Femtech communities are active in 80+ countries.

Source: AOA Dx, "Follow the Exits", via FemTech Insider, January 2026 · El Debate, June 2026; European Commission, Horizon Europe 2026; EIC, Women TechEU · DHSC, April 2026; European Parliament, September 2026; WEF Global Alliance for Women's Health

Our thesis

Backing what's been overlooked for too long.

We back founders who build innovation with real, lasting impact on women's lives, and with venture-scale returns.

Value in ignored biology.

Conditions that affect women exclusively, disproportionately or differently.

Early is where we add most.

Pre-seed and seed, before generalist funds understand the category.

Europe is under-served.

Strong science and clinical networks, little specialist early-stage capital.

Investment filter: every deal must show a women-specific or related unmet need. We will never become a generic health or impact fund.

Our investment focus

Core women's health is the heart of the fund.

Women's Health+ is selective, case by case.

How to read it

Two rings, one definition.

The inner ring is core women's health: clinical and healthcare needs. The outer ring is Women's Health+: the social determinants of women's health. Hover or tap a ring to open it, then pick a part.

Core:

Women's Health+:

Three technology tracks

Track A

~40%

Digital health and care models

Track B

~35%

Regulated digital and diagnostics

Track C

≤25%

Deeptech

Indicative share of committed capital. Out of scope: drug development needing Phase II or later funding; wellness products without a clinical rationale.

Our team