Thena Capital Closes £45M Fund Backing UK Medtech, Led by All-Female Team
London-based venture firm Thena Capital has closed its inaugural fund at £45 million, dedicated to supporting early-stage UK medical technology companies. Notably, it's the first fund of its kind with an all-female general partner team to receive backing from the British Business Bank’s Enterprise Capital Funds programme. The firm plans to invest in approximately 25 startups.
Key points
- Thena Capital, a London venture firm, has closed its first fund at £45 million ($60.4 million).
- The fund specifically targets early-stage digital health and medical device companies within the United Kingdom.
- It is the first fund with an all-female general partner team to secure backing from the British Business Bank's Enterprise Capital Funds programme.
- Thena Capital intends to invest in approximately 25 portfolio companies, providing initial seed funding between £500,000 and £1 million.
- The firm's strategy, described as 'gender-smart,' focuses on backing diverse teams and products potentially serving both men and women.
- Already, five companies—Plexāā, Salient Bio, Heim Health, Sanome, and Zonova—are part of the fund's initial portfolio.
Venture capital firm Thena Capital has successfully closed its inaugural fund, securing £45 million to invest in the United Kingdom's burgeoning medical technology sector. The fund reached its final close this week, following an initial £27 million close in March 2025.
The firm, founded in 2021, is distinguished by its leadership: an all-female general partner team comprising co-founders Tatum Getty, Pamela Walker Geddes, and Esther Reynal de St Michel Richardot. This makes it the first all-female GP team to receive anchor investment from the state-backed Enterprise Capital Funds programme managed by the British Business Bank.
Thena Capital focuses on early-stage digital health and medical device companies. Its investment strategy, termed 'gender-smart,' prioritizes diverse teams and products that cater to a broad market. The firm plans to support around 25 startups, offering seed investments ranging from £500,000 to £1 million, with the aim of helping them scale, including into the United States market.
The fund's early portfolio already includes five companies: Plexāā, which has launched its BLOOM43 product and secured Mayo Clinic as an investor; Salient Bio, having obtained UK regulatory clearance for an inflammatory bowel disease test; Heim Health, selected for the 2026 NHS Innovation Accelerator; along with Sanome and Zonova.
Sources
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