Thuja closes second fund on €34m

The VC started fundraising in 2014 and held the first close on £9m in April that year. Marcena Capital acted as placing agent. 

The Netherlands-based vehicle, which has a life span of 10 years, had a minimum subscription of €250,000 for LPs. It aims to invest between €500,000-3.5m per startup, aiming to add around three new companies per year to its portfolio. 

The fund's predecessor, Thuja Capital Health Care Seed Fund, was launched in September 2007 and raised €19m.

Investors
TCHF II was capitalised to a large extent by the European Investment Fund. Rabobank invested €5m via Rabo Private Equity. Utrecht University, University Medical Center Utrecht, Radboudumc Nijmegen, Utrecht Holdings, Radboud Valorization and regional development agencies BOM and LIOF invested undisclosed sums.

Family offices and private investors were also among the fund's backers.

Investments
The fund will be used for investing in Dutch and Belgian startups that develop products for medical applications. TCHF II will invest in products that improve diagnosis, cures or care, and can contribute to healthcare cost containment. Medical devices, diagnostics and medicinal products will be key areas of focus, alongside medical food products.

The VC has added two portfolio companies to TCHF II's portfolio so far: NutriLeads, in which Thuja invested in 2015, and Encare Biotech, which was backed in 2014.

People
Thuja Capital Management – Harrold van Barlingen, Michel Briejer (investment managers).

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