THENA Capital has officially launched its Fund I with a first close at £27m of its £50m targeted fund.
The London-based firm’s Fund I will invest across the UK early stage MedTech landscape, backing high-potential founders in areas such as oncology, chronic conditions, cardiovascular, neurology, mental health, care service delivery and women’s health.
THENA, which has an all-female general partner team, has said it will work closely with founders to commercialise pivotal medical innovations and support global scaling.
“The UK is a key player in the global medical landscape generating game-changing innovations. We are thrilled to collaborate with founders, turbocharging their businesses to transform patient experiences at scale and close the gender healthcare gap,” said the firm’s founding general partners – Pamela Walker Geddes, Esther Reynal de St Michel Richardot and Tatum Getty – in a joint statement.
“Having worked in the Pharma and MedTech sectors for over two decades, the investment strategy for THENA Capital was established from industry operational experience by identifying a pivotal opportunity for tech solutions from world class talent and institutions to catalyze the future of healthcare.”
Christine Hockley, managing director and co-head of funds at the British Business Bank, added: “This commitment to THENA Capital supports our strategic objective to back innovation as they back startups developing digital healthcare solutions and fast-track medical devices.
“Supporting early-stage businesses with growth potential sits at the core of our investment strategy. As one of the founding signatories of the Investing in Women Code, we are delighted to partner with an all-female investment team who also signed the Code.
“Supporting the advancement of female entrepreneurship in the UK is key for the British Business Bank, not only because it is the right thing to do but also because it is good for business, leading to better performance and better returns.”
In addition to the cornerstone investment from The British Business Bank’s ECF programme, THENA’s Fund I is backed by notable LPs from private equity and Pharma.
The firm’s vision is for healthcare to be equal, accessible, and more advanced.
University of Manchester Innovation Factory appoints new CEO