Utrecht, 11 November 2020. Thuja Capital Management (Thuja) today announces 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.
Intensive collaboration with universities and regional development agencies
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.
European Investment Fund as Thuja’s cornerstone investor
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.
ESG and Impact investing in healthcare
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.
Thuja Capital Management BV (Thuja) manages several venture capital funds aimed at building and scaling companies in the fields of (bio)pharmaceuticals, medtech and digital health. In addition to generating a financial return for its investors, Thuja’s investments positively impact the health and well-being of patients. Thuja serves physicians and patients worldwide by providing capital to daring entrepreneurs with ground-breaking product concepts locally. For more information visit www.thujacapital.com.
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
Noshaq is a Belgian investment fund and project developer with a portfolio of 464 companies and 600 million euros of resources. Noshaq is the reference financial partner for the creation and development of SMEs in the Liege Region (Wallonia). Over the years, Noshaq has developed a range of financing vehicles in line with the needs and trends of the market and its strategy. Each service offered by Noshaq (capital – loan – leasing) is always determined according to the demand and needs of the owner-investor. The objective is always to have a leverage effect on the company’s development. Further information is available at: www.noshaq.be.
With 35 years of experience alongside entrepreneurs, more than 270 companies in portfolio and €160 M under management, Sambrinvest is a major player in venture capital in the region of Charleroi Métropole, Wallonia, Belgium. More than an investor, Sambrinvest is the catalyst for local ecosystems development, such as Biotech, Digital, Engineering. For more information, please visit: www.sambrinvest.be.
BOM (the Brabant Development Agency) works together with businesses to create a robust, sustainable, and future-proof economy for the Dutch province of Brabant. BOM uses the Brabant Ventures label to focus, using knowledge and capital, on the accelerated and future-proof growth of ambitious Brabant startups and scaleups in the top industries of high-tech systems and software, agri-food, life sciences & health, supply chain, and the bio-based economy.
About Oost NL and Topfonds Gelderland
Oost NL (East Netherlands Development Agency) is an agency that focuses its activities and projects on strengthening and stimulating the economy of the provinces of Gelderland and Overijssel, the Netherlands. Oost NL plays an important role in executing the economic policies of the Dutch government and the Provinces of Gelderland and Overijssel and its various city governments. To achieve this it is necessary to encourage a close cooperation between businesses, regional institutes, knowledge institutes, and intermediaries. Oost NL acts as a bridge between government, companies and knowledge institutes. We do this partly with risk capital from various revolving innovation funds. In addition, Oost NL stimulates and supports public and private investors. The result: growth through financing.
Topfonds Gelderland is a revolving investment fund of the province of Gelderland, managed by fund manager Oost NL. Through Topfonds Gelderland Oost NL invests capital from the province in innovative enterprises and projects. This takes place, in cooperation with co-investors, in the form of direct investments in companies and through investments in market funds.
LIOF supports innovative entrepreneurs in Limburg with advice, network and financing. Together with the entrepreneur, a team of professionals determines the optimum mix of instruments for each individual entrepreneur based on his needs. LIOF helps small and medium-sized businesses (SMEs) with innovative ideas, business plans and financing requests, and aids entrepreneurs who want to establish themselves in Limburg. We also help entrepreneurs with cross-border cooperation and international trade. Our goal is to make Limburg Ltd., and therefore Limburg as a whole, economically stronger. www.liof.nl/en
About Utrecht Holdings
Utrecht Holdings (UH) is the Knowledge Transfer Office of and is active as an investor for Utrecht University and University Medical Center Utrecht (UMC Utrecht). UH is focused on the utilization and commercialization of academic research. UH supports scientists in creating, building and investing in innovations with a particular expertise in biotech, medtech, education and ICT. Since 1996, UH has assisted Utrecht University and the UMC Utrecht in attracting significant amounts of research money, filed over 175 patents, closed many license agreements, and established over 45 spin-off companies. www.utrechtholdings.nl.