Dutch VC NLC Health aims to raise a further EUR 80m for fourth fund

The VC’s co-investment vehicle reached a first close of EUR 20m earlier this year, and has already started investing, he said. With a target of EUR 100m, it welcomes private investors, institutional investors such as pension funds and insurance companies, as well as family offices and impact investors.

The fourth fund will be substantially larger than the third one, which received commitments of EUR 10.8m. It accepts LP commitments of EUR 100,000-EUR 5m, Ten Brink said.

NLC Health invests solely in companies that were built by NLC’s venture builder, which currently has 81 companies in its portfolio. The venture builder was set up in 2015 with the goal of supporting companies at a stage that precedes the venture capital stage, he said. It finances companies starting from the proof-of-concept and pre-seed stages, but also including those conducting clinical trials, but always pre-revenue companies, Ten Brink noted.

The companies in the NLC universe are primarily medtech, but also biotech and digital tech, with a special focus on green health supporting ventures that help dispose of medical waste, the executive said. It is an impact-driven certified B corporation, he added.

It finances companies in the EU and the US, and tends to hold investments for 10 years. It tackles risk by diversifying investments across around 80 ventures, and this number could reach 90, he said.

With this dedicated deal flow, NLC Health co-invests alongside external investors providing tickets of up to EUR 5m. Among the earliest investments in the portfolio are Dutch health tech company Nico-lab, which has developed software to diagnose and treat strokes; and Bilihome, a Dutch company that provides jaundice treatment for newborns.

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