Early-stage HealthTech investor Spex Capital has announced the first €30 million commitment to its flagship €100 million Venture HealthTech Fund, aimed at accelerating digital health and medical technology innovation worldwide.
The London-based firm will invest globally in Seed to Series B HealthTech startups, with individual checks of up to €5 million. The fund focuses on solutions addressing healthcare’s most pressing challenges — from ageing populations and rising system costs to accessibility and patient outcomes.
Spex Capital has established strategic partnerships with EIT Digital and Penn Medicine/LGH, a leading U.S. hospital network that serves over 7 million patients annually.
“Healthcare faces immense challenges globally — from demographic pressures to system inefficiencies,” said Claudio D’Angelo, Founder and CEO of Spex Capital. “Our strength lies not only in deal flow, but in our unique validation network — enabling founders to gain commercial and clinical traction faster than ever before.”
A Major Step in Europe’s HealthTech Investment Landscape
Spex Capital’s €100 million fund is among the largest early-stage HealthTech vehicles in Europe, underscoring rising institutional confidence in the sector. The firm joins a wave of 2025 HealthTech-focused funds, including:
- Meridian Health Ventures (€44.7M) – a UK-US transatlantic digital health fund.
- Capricorn Partners (€51M) – HealthTech Fund II focused on diagnostics and life sciences.
- M2care (€26M) – advancing France’s healthcare venture studio initiatives.
With European HealthTech investment exceeding €4 billion in early 2025, Spex Capital’s fund reflects deepening investor appetite for digital healthcare, medical AI, and connected systems.
“The market has no shortage of innovation — what’s missing is validation,” D’Angelo added. “Our network across the NHS, Penn Medicine, and EIT Digital provides startups with the real-world clinical feedback they need to scale globally.”
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Strategic Leadership and Global Reach
Founded in 2021 by Claudio D’Angelo, Spex Capital specializes in scaling and commercializing digital health and medtech solutions across international healthcare systems.
The firm also announced Lord Markham, former UK Health Minister, as Chair of the Board. A seasoned entrepreneur and policymaker, Lord Markham co-founded Cignpost Diagnostics, scaling it from zero to €350 million in turnover within a year.
“I’m delighted to join Spex Capital at this pivotal time for HealthTech,” said Lord Markham. “This fund will unleash transformative innovation and accelerate technologies that improve patient outcomes and redefine healthcare delivery worldwide.”
About Spex Capital
Spex Capital is a London-based digital health investment firm focused on early-stage HealthTech ventures. The firm leverages a multidisciplinary team and an extensive global network spanning hospitals, universities, accelerators, and industry partners. Its mission is to help founders bring life-changing healthcare innovations to market — from concept to global scale.
