Institutional investors don't underestimate health. They underestimate the step before health innovation is proven.

Institutional investors don't underestimate health. They underestimate the step before health innovation is proven. 

Impact Investor makes the case well: healthcare systems across Europe find themselves under increasing strain. By 2050, 29% of EU citizens will be over 65, up from 21% in 2023.  

This is why Healthy.Capital invests in early-stage digital health since 2018, primarily in the Netherlands. We are one of those handful of specialist VCs focused on the Netherlands Maurice Klaver of NL Health is referring to.  
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We are funding those first clinical studies, the MDR route and the first contract with a hospital or insurer. Across 22 companies, we have supported 85 clinical studies and five reimbursement agreements with Dutch insurers. With our team of experts and smaller tickets, supporting early-stage healthcare innovation to reach proof of concept. 
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Innovation that helps keeping healthcare affordable and accessible. 

Healthy.Capital is also the first VC fund to apply the LIFe Impact Framework, the standard Invest-NL, PGGM, Achmea Investment Management, VGZ and CbusineZ  developed to make health impact measurable and comparable.  

In May we published our Impact in Progress Report 2025. In 2025 our portfolio avoided €88.3m in healthcare and societal costs and freed up capacity equal to 1,015 FTE.  

Bert-Arjan Millenaar puts a number on the problem: only 0.15% of institutional capital goes into venture capital. His answer is fund-of-funds and co-investment, and he's right. Pension funds should not do seed deals themselves. They should back the specialists who do. 

Capital → Evidence → Implementation → Reimbursement → Scale. Institutional capital is ready once the evidence exists. We fund the step before it. 

You can read the article here.
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