New capital for medical innovations: Thuja Capital successfully closes new fund
9 June 2016, Utrecht – Thuja Capital Management (“Thuja”) has successfully closed a new venture capital fund, Thuja Capital Healthcare Fund II, with a fund size of EUR 34M. The fund will be used for investing in young Dutch and Belgian companies that develop innovative products for medical applications. TCHF II will invest in products that improve diagnosis, cure or care, and/or that can contribute to healthcare cost containment. In particular, such products include medical devices, diagnostics and medicinal products, but also medical food products. In fact, any product for which true value for patients can be proven merits Thuja’s interest. As such Thuja contributes to a sustainable healthcare of high quality.
Thuja Capital Healthcare Fund II has been founded on the basis of a number of partnerships, in order to realize these ambitions:
- Rabobank – The Rabobank is an important financier in the Dutch healthcare sector. Through its investment held by Rabo Private Equity in Thuja Capital Healthcare Fund II, Rabobank wants to contribute to healthcare innovations that are beneficial to both citizens as well as society.
- Knowledge centers: the Utrecht University, University Medical Center Utrecht and Radboudumc Nijmegen are rich sources of spin-off companies and house a wealth of medical and scientific knowledge. Thuja will collaborate closely with their Technology Transfer Offices, Utrecht Holdings and Radboud Valorization, with the objective to bring innovations to patients.
- Regional Development Agencies with a keen interest in companies active in life sciences & health: BOM and LIOF.
In addition, Thuja Capital Healthcare Fund II has been capitalized to an important extent by the European Investment Fund (EIF), part of the European Investment Bank. As one of their activities, EIF supports venture capital funds that bridge the gap between academic research and the market, and has identified Thuja as a professional fund manager that takes on that challenge.
Next to the above mentioned parties also a large number of family offices and private investors participate in Thuja Capital Healthcare Fund II.
About Thuja Capital Management
Thuja Capital Management BV is a management company founded in 2007, which manages a number of venture capital funds, each with a focus on medical product innovations. By investing in smart medical innovations Thuja pursues both financial as well as healthcare return. The team consists of Harrold van Barlingen and Michel Briejer as investment managers and Martin Solleveld as financial controller. Thuja Capital Management holds office in Utrecht Science Park.
Rabobank holds a solid position in the Dutch healthcare sector. In order to maintain the high quality, ensure ease of access and affordability of healthcare also for future generations, it is important to boost innovation and entrepreneurship in the sector. Healthcare innovations should contribute to the vitality of people and communities. An important strategic goal of Rabobank. Vitality is a major pillar for a productive and prosperous society. Michel van Schaik: ”Our involvement with Thuja Capital Healthcare Fund II parallels our vision for the healthcare sector and the contribution we would like to make to render the healthcare landscape future proof”.
Rabo Private Equity invests in funds that fit Rabobank’s strategy. Outside the Netherlands Rabo Private Equity invests in several private equity funds established with a primary focus on the Food & Agri sectors. Within the Netherlands Rabo Private Equity invests in various venture capital and private equity funds, where besides capital also our expertise, network and sector knowledge is made available to the fund managers to add value to the portfolio companies. By participating in funds Rabo Private Equity is able to assist together with our partners a wide variety of companies in different stages and sectors with equity.
About the Utrecht Holdings
Utrecht Holdings is the Knowledge Transfer Office of Utrecht University and University Medical Center Utrecht. It is focused on the transfer, utilization and commercialization of academic research. Since 1996 it has been supporting scientists in creating, building and investing in innovations with a particular expertise in biotech, medtech, education and ICT. The have assisted Utrecht University and the University Medical Center in attracting significant amounts of research money, filed over 150 patents, closed many license agreements, established over 40 spin-off companies and invested over € 15 million in these new ventures. Utrecht Holdings and Thuja Capital have been successfully working together since 2008. For more information: www.utrechtholdings.nl.
About Radboudumc Nijmegen
Radboud university medical center (Radboudumc) fosters the ambition to make society benefit from its knowledge. Knowledge gained from research is translated to impact healthcare, and reap the benefits both on a social and economic level. Department Valorization of Radboudumc support this impact by providing assistance in obtaining (inter)national research subsidies, the coordination of complex grant projects, and evaluation, patenting and commercialization of new technologies. The department negotiates licenses and facilitates the process of spinning off new companies. Radboudumc Holding B.V. has 19 spin-off companies in which 153 FTE are employed, and in which to date EUR 44M has been invested. On average 15 new patent applications are filed annually. For more information about Radboudumc: www.radboudumc.nl.
The Brabant Development Agency (BOM) endeavors to promote an innovative and resilient economy in the Dutch province of Brabant, giving the region a lasting competitive edge in a rapidly globalizing world. The emphasis in this policy is focused on the top economic clusters, crossovers between these clusters, and linking these clusters to social issues. BOM encourages companies, local and national authorities and knowledge institutes to realize the economic ambitions nurtured by the province of Brabant. The starting point in this is to provide smart solutions to social problems. BOM’s core tasks involve forging alliances between companies and institutions, attracting foreign companies, investing risk capital in both innovative startups as well as growing companies and developing business sites. For more information, visit www.bom.nl.
LIOF supports SME’s from the early start up to and beyond the finish with innovation and economic development. LIOF finances the start and growth phases of promising small companies located in the Dutch province of Limburg. LIOF also attracts foreign companies to settle in Limburg and provides full support in their local embedding. LIOF supports with knowhow, network and capital.
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.