# HealthCap: portfolio, investments and team > HealthCap is a vc firm based in Sweden. 32 investments on record, 1 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/healthcap (Millionrounds; every figure on the page links to its filing or article) Sweden · [Investor](https://millionrounds.com/investors) # HealthCap Last cheque observed Oct 2026; 32 cheques on record. Email Deploying now New fund $179M, Jan 2024 VC firm Seed Series A Series B Life Science Therapeutics Rare Diseases Follow HealthCap and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fhealthcap) Deploying now **100%** of best year **1** **cheques in 12 months**, 32 on record Since the last cheque **17** days **00** hrs **00** min **00** sec Median round **$49M** Cheque size, as they say **$100K – $5.0M** Rounds led **1 of 32** Sole investor **1 rounds** Exits **5 from the portfolio** Mostly in **United States, 47%** Pitch HealthCap ## HealthCap highlights - 01 1 cheques in the last 12 months - 02 Mostly Series B and Series A: 62% of its rounds - 03 Sole investor in 1 rounds, median $6.8M - 04 5 exits from the portfolio ## What they do > HealthCap is a life science investor and company creator. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** $100K – $5.0M as they say - **Stages:** Seed Series A Series B Growth - **Sectors:** Life Science Therapeutics Rare Diseases - **Based in:** Stockholm, Sweden - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **32 appearances** - **2026** 1 round - **Oct** **[Altay Therapeutics, Inc.](https://millionrounds.com/company/altay-therapeutics-inc)** Series A · US · Sound Bioventures **$37M** *Led* - **2023** 1 round - **Feb** **[Hemab Therapeutics](https://millionrounds.com/company/hemab-therapeutics)** Series B · DK · Firms' own news pages **$135M** With 8 others - **2019** 2 rounds - **Aug** **[Carisma Therapeutics](https://millionrounds.com/company/carisma-therapeutics)** Series A · US · Technical **$60M** With 1 other - **Apr** **[Fusion Pharamaceuticals](https://millionrounds.com/company/fusion-pharamaceuticals)** Series B · CA · FinSMEs **$105M** With 11 others - **2018** 4 rounds - **Nov** **[Aprea Therapeutics](https://millionrounds.com/company/aprea-therapeutics)** Series C · US · FinSMEs **$57M** With 5 others - **Nov** **[Oncorena](https://millionrounds.com/company/oncorena)** SE · Healthcap **$1.6M** With 1 other - **Nov** **[Camel-IDS](https://millionrounds.com/company/camel-ids)** Series A · BE · Healthcap **$42M** With 5 others - **May** **[BioClin](https://millionrounds.com/company/bioclin)** Series B · FinSMEs **$20M** With 6 others - **2015** 3 rounds - **Jul** **[GenSight Biologics](https://millionrounds.com/company/gensight-biologics)** Series B · FR **$36M** With 8 others - **Feb** **[Vaxin](https://millionrounds.com/company/vaxin)** Venture · US **$16M** With 3 others - **Jan** **[Strongbridge Biopharma](https://millionrounds.com/company/strongbridge-biopharma)** SE **$28M** With 3 others - **2014** 2 rounds - **Oct** **[Strongbridge Biopharma](https://millionrounds.com/company/strongbridge-biopharma)** Growth · SE **$11M** With 1 other - **Apr** **[Wilson Therapeutics](https://millionrounds.com/company/wilson-therapeutics)** Series B · SE **$40M** With 3 others - **2008** 1 round - **Nov** **[Tengion](https://millionrounds.com/company/tengion)** Series C · US **$21M** With 7 others - **2007** 3 rounds - **Sept** **[Nexstim](https://millionrounds.com/company/nexstim)** Venture · FI **$11M** With 3 others - **Jul** **[Immune Targeting Systems](https://millionrounds.com/company/immune-targeting-systems)** Series A · GB **$7.1M** With 3 others - **Mar** **[CoreValve](https://millionrounds.com/company/corevalve)** Series C · US **$33M** With 3 others - **2005** 2 rounds - **Feb** **[Jerini](https://millionrounds.com/company/jerini)** Venture · DE **$20M** With 4 others - **Jan** **[Biolipox](https://millionrounds.com/company/biolipox)** Series C **$41M** With 5 others - **2004** 5 rounds - **Sept** **[Sopherion Therapeutics](https://millionrounds.com/company/sopherion-therapeutics)** Series B · US **$47M** With 7 others - **Jun** **[PTC Therapeutics](https://millionrounds.com/company/ptc-therapeutics)** Series E · US **$15M** With 9 others - **Jun** **[Jerini](https://millionrounds.com/company/jerini)** Series B · DE **$38M** With 4 others - **Jun** **[Nucleonics](https://millionrounds.com/company/nucleonics)** Series B · US **$49M** With 6 others - **Jan** **[PTC Therapeutics](https://millionrounds.com/company/ptc-therapeutics)** Series E · US **$35M** With 8 others - **2003** 4 rounds - **Aug** **[BioStratum](https://millionrounds.com/company/biostratum)** Venture · US **$9.5M** With 3 others - **Jul** **[Bionaut Pharmaceuticals](https://millionrounds.com/company/bionaut-pharmaceuticals)** Series A · US **$6.8M** Sole investor - **Mar** **[Sopherion Therapeutics](https://millionrounds.com/company/sopherion-therapeutics)** Series A · US **$26M** With 7 others - **Jan** **[Orexo](https://millionrounds.com/company/orexo)** Series B · SE **$22M** With 4 others - **2002** 1 round - **Dec** **[Renovo](https://millionrounds.com/company/renovo)** Series B · GB **$33M** With 3 others - **2001** 2 rounds - **Dec** **[Hybrigenics](https://millionrounds.com/company/hybrigenics)** Series B · FR **$12M** With 7 others - **Sept** **[PTC Therapeutics](https://millionrounds.com/company/ptc-therapeutics)** Venture · US **$40M** With 9 others - **2000** 1 round - **Jun** **[Hybrigenics](https://millionrounds.com/company/hybrigenics)** Series A · FR **$8.5M** With 2 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **20 named** AO **Alex Ovidiu Valcu** Principal i Form ADV AF **Anki Forsberg** Employee and Director of the Investment Advisor i Filing they signed AC **Ann Christine Forsberg** Director i Form ADV BO **Bjorn Odlander** Employee and Director of the Investment Advisor i Filing they signed CK **Carl Kilander** Shareholder i Form ADV DR **Dag Richter** Member of the Board of Directors i Filing they signed DS **Daniel Schafer** Director of the General Partner. i Filing they signed FB **Fabrice Bernhard** Member of the board of directors i Filing they signed FK **Francois Kaiser** Member of the Board of Directors i Filing they signed GB **Georg Beiske** Shareholder i Form ADV HI **HealthCap IX Holding AB** Sole Shareholder i Filing they signed JG **Jacob Gunterberg** Employee and Director of the Investment Advisor i Filing they signed JC **Johan Christenson** Employee and Director of the Investment Advisor i Filing they signed KE **Kristina Ekberg** Director i Form ADV MS **Marile Schiess** Principal i Form ADV MS **Marten Steen** Employee and Director of the Investment Advisor i Filing they signed MO **Max Odlander** Shareholder i Form ADV PO **Per Olof Eriksson** Director i Form ADV PS **Per Samuelsson** Employee and Director of the Investment Advisor i Filing they signed SL **Staffan Lindstrand** Employee and Director of the Investment Advisor i Filing they signed We also hold **31** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$266M** gross assets of its funds, 2 advisers combined Oct 2026 **Exempt** reporting adviser venture or small private funds - **Legal name:** Healthcap VIII Advisor AB - **SEC number:** CRD 305750 ## What they claim to have backed From their own portfolio page (on their website) **17** of 24 we have independently watched raise [Adcendo ApS](https://millionrounds.com/company/adcendo)[Altay Therapeutics](https://millionrounds.com/company/altay-therapeutics)[Aprea Therapeutics](https://millionrounds.com/company/aprea-therapeutics)[Ariceum Therapeutics](https://millionrounds.com/company/ariceum-therapeutics)[CurifyLabs](https://millionrounds.com/company/curifylabs)[Doctrin](https://millionrounds.com/company/doctrin)[Fusionpharma](https://millionrounds.com/company/fusion-pharmaceuticals)[Gesynta Pharma](https://millionrounds.com/company/gesynta-pharma)[HelloBetter](https://millionrounds.com/company/hellobetter)[Hemab Therapeutics](https://millionrounds.com/company/hemab-therapeutics)[Incardatherapeutics](https://millionrounds.com/company/incarda-therapeutics)[Kivu Bioscience](https://millionrounds.com/company/kivu-bioscience)[Mahzi Therapeutics](https://millionrounds.com/company/mahzi-therapeutics)[Oncorena](https://millionrounds.com/company/oncorena)[Positrigo](https://millionrounds.com/company/positrigo)[Priothera](https://millionrounds.com/company/priothera)[Spruce Biosciences](https://millionrounds.com/company/spruce-biosciences) AMRA Medical AB Bonesupport AB Elsa Science AB Intervacc Neobiomics Oncopeptides AB SynOx Therapeutics Ltd Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## Exits from the portfolio Companies it backed that were later bought or listed **5 in all** **[Immune Targeting Systems](https://millionrounds.com/company/immune-targeting-systems)** Bought by Vaxin **Undisclosed** Feb 2015 **[PTC Therapeutics](https://millionrounds.com/company/ptc-therapeutics)** Listed **$125M** Jun 2013 **[Tengion](https://millionrounds.com/company/tengion)** Listed **Undisclosed** Apr 2010 **[Jerini](https://millionrounds.com/company/jerini)** Bought by [Shire](https://millionrounds.com/fund/shire) **$554M** Jul 2008 **[Biolipox](https://millionrounds.com/company/biolipox)** Bought by Orexo **Undisclosed** Nov 2007 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$179M** raised in Jan 2024 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$49M** the round, not its cheque Alone, median **$6.8M** Led 1 of 32 rounds **3%** - **Said size:** $100K – $5.0M - **Sole investor:** 1 rounds - **Last cheque:** Oct 2026 - **Exits:** 5 from the portfolio Rounds by stage said on their site - Series B said *11* - Series A said *7* - Venture *5* - Series C *4* - Series E *2* - Seed said *-* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Apax Partners](https://millionrounds.com/fund/apax-partners) 4 - [Auriga Partners](https://millionrounds.com/fund/auriga-partners) 4 - [Bay City Capital](https://millionrounds.com/fund/bay-city-capital) 3 - [Delphi Ventures](https://millionrounds.com/fund/delphi-ventures) 3 - [Novartis Venture Fund](https://millionrounds.com/fund/novartis-venture-fund) 3 - [Novo Holdings A/S](https://millionrounds.com/fund/novo-holdings-a-s) 3 **Pitching HealthCap?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as HealthCap. A count of rooms they were both in, not a relationship either has claimed. [**Apax Partners** Private equity **4** rounds together](https://millionrounds.com/fund/apax-partners)[**Auriga Partners** VC firm **4** rounds together](https://millionrounds.com/fund/auriga-partners)[**Bay City Capital** VC firm **3** rounds together](https://millionrounds.com/fund/bay-city-capital)[**Delphi Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/delphi-ventures)[**Novartis Venture Fund** Corporate VC **3** rounds together](https://millionrounds.com/fund/novartis-venture-fund)[**Novo Holdings A/S** Growth equity **3** rounds together](https://millionrounds.com/fund/novo-holdings-a-s)[**POSCO BioVentures** VC firm **3** rounds together](https://millionrounds.com/fund/posco-bioventures)[**3i Group** Private equity **2** rounds together](https://millionrounds.com/fund/3i-group)[**Abingworth** VC firm **2** rounds together](https://millionrounds.com/fund/abingworth)[**Credit Suisse First Boston** Investment firm **2** rounds together](https://millionrounds.com/fund/credit-suisse-first-boston)[**Crédit Lyonnais Private Equity** VC firm **2** rounds together](https://millionrounds.com/fund/credit-lyonnais-private-equity)[**HBM BioVentures** Growth equity **2** rounds together](https://millionrounds.com/fund/hbm-bioventures) ## Recently backed The latest companies HealthCap put money into. [**Carisma Therapeutics** $60M · Aug 2019](https://millionrounds.com/company/carisma-therapeutics)[**Oncorena** $1.6M · Nov 2018](https://millionrounds.com/company/oncorena) ## Quick answers about HealthCap ### What does HealthCap invest in? HealthCap invests most often at Series B and Series A (62% of the rounds on record), in sectors such as Life Science, Therapeutics and Rare Diseases. ### How active is HealthCap? 32 investments on record, 1 of them in the last 12 months, and it led 1. The most recent was in Oct 2026. ### What has HealthCap invested in recently? Its most recent investments on record: Altay Therapeutics, Inc. (Series A, Oct 2026), Hemab Therapeutics (Series B, Feb 2023) and Carisma Therapeutics (Series A, Aug 2019). ### How big are HealthCap's cheques? The median round it joins is $49M. It says it writes cheques of $100K to $5.0M. ### Does HealthCap lead rounds? Sometimes: it led 1 of its 32 investments on record (3%). ### Where does HealthCap invest? Most of the companies it backs are in the United States (47%), Sweden (17%) and France (10%). ### Is HealthCap investing now? Yes: it is actively investing, with 1 investments in the last 12 months. ### Who does HealthCap invest alongside? Most often Apax Partners (4 rounds together), Auriga Partners (4 rounds together) and Bay City Capital (3 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=healthcap) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=healthcap)