New fund to impact tomorrow’s healthcare: launch of Thuja Capital Healthcare Fund III

Thuja Capital Management (Thuja) announced completion of a first closing of its third investment fund, Thuja Capital Healthcare Fund III (TCHF III). TCHF III will invest in early-stage innovative companies and daring entrepreneurs developing best-in-class products with clinically proven benefits for patients to impact the healthcare of tomorrow.

The products of the companies Thuja invests in are deeply rooted in science and clinical practice. In close collaboration with universities and university medical centers (in particular those of Utrecht, Maastricht (Brightlands), Nijmegen and Leuven) Thuja will be scouting for projects to build new ventures focusing on novel therapeutics, medical devices, nutraceuticals or digital health solutions with high impact potential. In addition, Thuja is deeply involved with important innovation ecosystems through its relationship with a number of regional development agencies and investment funds (BOM, Oost NL, LIOF, NOSHAQ and Sambrinvest).

Oscar Schoots, Utrecht Holdings (representing both Utrecht University as well as Utrecht University Medical Center): “We are participating in a Thuja fund for the third time in a row now. Over the past decade we have found a valuable investor and partner in Thuja, committed to providing not only the financial resources but also broader strategic and practical support to get our spin-off companies going and facilitate their way to success.”

Over the next years, Thuja will invest in 10 to 15 companies mainly in The Netherlands, Belgium and Germany. Thuja’s relationship with NOSHAQ, Sambrinvest and KU Leuven further cements Thuja’s engagement in the innovation-rich Belgian ecosystem.

Initial capital providers to TCHF III include the European Investment Fund (EIF), under the Innovfin mandate.

Alain Godard, Chief Executive of the EIF: “Thuja has been performing very well since we joined as a cornerstone investor in their second fund. We recognize their role in nurturing a vibrant innovation ecosystem and value their relationships with universities to create and nurture novel companies. Our decision to join Thuja’s third fund also shows the importance of the support from European institutions to boost innovation around Europe.”

In addition to EIF, mentioned universities and regional development agencies also committed to TCHF III, supplemented with a number of family offices and private individuals. At this time, the fund has a starting capital of EUR 43M but expects to raise EUR 75M to EUR 100M once fully completed.

With the first closing of TCHF III completed, Thuja is expanding its team. Aartie Nanda has recently joined Thuja as an office and communications manager, and further hires to reinforce the investment team are in progress.

As an investor in healthcare companies, Thuja aims to positively impact the lives of patients and promote health. In order to optimize the impact potential of portfolio investments, Thuja will implement ESG factors alongside financial risk management. Thuja has appointed an Impact and ESG officer to the team to support this ambition.

Source: Thuja Capital (Press release)