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Germany - based Earlybird Health announced the net closing of its second fund of € 173 million ( around $ 185 million ) . This is more than twice the size ofEarlybird‘s first health care - focused investment firm , Health I , which reach € 85 million at last closing .
While both funds are like in investment thesis and phase , this will enable Earlybird Health to write big checks . Since it plans to preponderantly invest in Europe , include the U.K. , this could be good intelligence for health tech inauguration in the region , many of which arerunning out of cashafter thefall of telehealth company Babylon .
However , there ’s a lot more to health and better patient termination than digitalisation . Earlybird Health ’s focus encompasses aesculapian devices , nosology result , R&D tools and biopharma . The latter already lead in an IPO for Earlybird Health ’s first fund when centre care company Oculiswent publicon Nasdaq in March 2023 .
Earlybird Health ’s existing portfolio also comprisesPriothera , whose carbon monoxide gas - founder Florent Gros joined the fund as a partner in 2022 .
Another fledgling in Earlybird Health ’s man is limited collaborator British Patient Capital , a subsidiary company of DoS - have British Business Bank . It joins a chain of LPs that also include Barmer , one of Germany ’s largest public health indemnity provider . According to Earlybird Health , it was the first of such insurers to invest in a VC monetary fund when it backed Health I.
“ Having wellness insurers as cornerstone investors enable us to understand and address key affected role needs by abide innovative health care , ” said Thom Rasche , a spouse at Earlybird Health .
For portfolio company , this type of LP also open up the door to “ insights into the most promising angles for commercialization and possible unmediated indorsement , ” Rasche said , citing the collaborationism between Barmer and portfolio companies iStar Medical , Noscendo and Wellabe .
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While Earlybird Health has its own team of 10 people , it also has access code to Eagle Eye , an in - house AI shaft share across Earlybird and its other independently managed funds . From uncovering stealth fashion companies to other opportunities , Earlybird Health principal Christoph Massner expects it will help the fund ’s deal sourcing and due - diligence appendage be more effective and more inclusive .
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Inclusion is part of the ESG goals that Earlybird Health practice to , as elaborate in its inaugural2022 shock and ESG report . As an article 8 investment company under the EU ’s Sustainable Finance Disclosure Regulation ( SFDR ) , it sees these try as a “ core part ” of its daily activity , “ whether investing or general operations , ” partner Lionel Carnot said . Ahead of the release of the fund ’s 2023 composition , he disclosed that two portfolio companies also “ develop and apply an ESG strategy in 2023 ” as a final result of its push button .
