Thena Capital завершает фонд объемом £45 млн для поддержки медтехнологий в Великобритании.

      Thena Capital has successfully closed its inaugural fund at £45 million ($60.4 million), as announced by the London-based venture firm this week, following a £27 million initial closing in March 2025. The fund focuses on early-stage British medical technology companies and is now fully closed.

      This achievement goes beyond the financial milestone. Thena is notable for being the first all-female general partner team to secure support from the British Business Bank’s Enterprise Capital Funds program, a government-backed initiative that underpins the fund.

      Investment Strategy

      Thena Capital targets investments in UK digital health and medical devices at their earliest stages. The firm aims to support approximately 25 companies, providing funding between £500,000 and £1 million at the seed stage, and assisting them in scaling into the United States market.

      Established in 2021, Thena is led by co-founders Tatum Getty, Pamela Walker Geddes, and Esther Reynal de St Michel Richardot, all of whom bring extensive experience from the healthcare sector. Their strategy is described as “gender-smart,” investing in diverse teams and products designed for both men and women.

      Initial Portfolio Development

      The portfolio is already showing progress. Plexāā has introduced its BLOOM43 product in the US and secured Mayo Clinic as an investor. Salient Bio has received UK regulatory approval for a test related to inflammatory bowel disease. Heim Health has been accepted into the 2026 NHS Innovation Accelerator. Sanome and Zonova complete the list of five companies in their portfolio.

      Value-Driven Limited Partner Base

      The firm’s backers reflect its targeted investment approach. More than half of Thena’s limited partners are women, including notable figures such as Baroness Martha Lane Fox, co-founder of Lastminute.com; the chair of BlackRock Switzerland; and the CEO of Hellman & Friedman. Senior executives from GSK, Novartis, and AstraZeneca also contribute, offering not only capital but also potential exit opportunities and credibility.

      Significance of the Fund

      This fundraising effort occurs amidst a challenging landscape. While Europe is experiencing a surge in AI investments, the femtech sector has been largely neglected, with female-only founding teams acquiring about 6% of venture capital funding, a percentage that has remained stagnant since 2016. A fund managed entirely by women, focused on health startups, challenges this trend.

      Additionally, healthtech founders encounter significant challenges when scaling in Europe, where investors frequently seek early commercialization proof. Although UK venture funding has doubled this year, the majority of funds are funneled into a handful of large AI rounds, rather than seed-stage medical devices. The UK digital health market is projected to reach $7.45 billion by 2030.

      Thena’s belief is that steady, specialized funding can foster the growth of companies that the broader investment surge may overlook. A £45 million inaugural fund may seem modest compared to substantial AI rounds, but the firm’s ability to transform five early investments, with one already in the US, into successful exits will be crucial for validating its model in the coming years.