In the often challenging world of early-stage startups, securing funds for health innovations isn't just necessary, it’s game-changing. As a long-time startup entrepreneur, I’ve seen how tough it can be to convince investors that untested solutions in healthcare are worth the risk. That’s what makes Luxembourg-based Catalpa Ventures’ €30 million health fund stand out. It’s not merely capital, it’s a commitment to build infrastructure for better healthcare across Europe.
A Closer Look at Catalpa Health Fund I
Catalpa Ventures isn’t your typical venture capital firm. Founded by experts like Dr. Thomas Goergen and Prof. Dr. Silke Sperling, they’re rooted in both science and entrepreneurship. Their new venture, Catalpa Health Fund I, specifically targets early-stage HealthTech ventures at pre-seed and seed levels. This is notable because early-stage investments are critical for young startups that need runway to fine-tune prototypes and validate concepts.
At its first closing earlier this December, Catalpa secured €10 million, primarily from family offices, entrepreneurs, and industry specialists. The fund is now operational, with a target to hit the full €30 million by early 2027.
The plan? Back up to 20 promising startups, offering tickets ranging from €300K to €1.5M. Alongside funding, Catalpa’s partners bring a wealth of hands-on industry knowledge which many startups desperately need.
Why It’s Happening Now
European healthcare is buckling under immense pressure. Public health systems are being pushed to their limits by an ageing population. The World Health Organization predicts that healthcare professional shortages will hit four million across Europe by 2030. Add growing costs to that equation, and you have a market ripe for disruption, but only if the right innovators get the boost they need.
This is where funds like Catalpa’s shine. Startups that create digital tools supporting clinicians, solutions for preventive care, or tech that enhances workflow efficiency could redefine how care is delivered and create lasting impact for millions.
For example, Catalpa’s inaugural investment is in Noah Labs, a telemedicine company innovating heart failure management. It’s leveraging voice analytics, something that feels like it belongs in science fiction, to reduce hospital readmissions. Bold ideas like this are exactly what we need.
Lessons for Startup Founders
Here’s how Catalpa’s launch can guide founders who are chasing funding:
1. Focus on Real Problems, Not Fads
Catalpa prioritizes startups solving critical healthcare challenges, from chronic disease management to clinician burnout. Investors are more likely to back you if your pitch aligns with a pressing need rather than a nice-to-have feature.
2. Know Your Audience
Early-stage investors like Catalpa look for clear, scalable solutions. They’re not interested in vague ideas about disruption. If your solution doesn’t show measurable improvement in outcomes (think lives saved or treatment times cut), that’s your first red flag.
3. Leverage Niche Experts
Sometimes, having the right investors is better than having more. Catalpa’s founders have experience running funds, launching startups, and working within healthcare ecosystems. When pitching to niche funds, highlight how you’ll maximize the value of their expertise, not just their money.
Most Common Mistakes When Seeking Investment
Even experienced founders fall into traps. Here’s what to avoid if you hope to secure funding from a specialized VC like Catalpa Ventures:
- Overcomplicating the Problem: If you can’t explain the need for your solution in less than two minutes, you’re losing the room.
- Ignoring Proof of Concept: Even pre-seed stage investors expect testing data. Don’t approach them until you have some concrete outcomes to share.
- Failing to Address Challenges: Avoiding tough questions like scalability or data security during your pitch makes you look unprepared.
Why Luxembourg Matters
Some might question why Luxembourg, a country better known for finance than health innovation, is becoming a hub for HealthTech. The answer lies in its infrastructure and government prioritization. Luxembourg is home to a young, adaptable healthcare system alongside institutions like the Luxembourg Institute of Health, which has partnered with Catalpa on this fund.
In addition, its centralized location in Europe makes it an ideal testing ground for startups looking to break into larger European markets. For HealthTech startups, this is a golden ticket to experiment and then expand.
Deep Insights into the Opportunity
From my vantage point, this fund is about more than money. It reflects a shift in how investors look at problems. We’re seeing a clear emphasis on solutions that are sustainable, patient-centered, and evidence-driven. Catalpa and other HealthTech funds focus on disruption in how practices run, not just fancy apps.
As a serial entrepreneur, my advice to aspiring HealthTech founders is to put aside the temptation to jump straight into funding chic tech trends. Instead, focus on outcomes that matter: does your solution save money? Free up time for doctors? Improve patient lives? If yes, you’re in a good position to pitch to strategic investors.
This fund is a reminder of what’s possible when the right people invest for the right reasons. It’s not just about creating startups, it’s about creating healthier futures for millions of people. Whether Catalpa’s €30 million aims create trailblazing unicorns or quiet innovators, they’re igniting a vital conversation about where healthcare is going. For today’s founders, that’s both a challenge and an invitation. Will your startup be the next Noah Labs? Only time will tell.
FAQ
1. What is Catalpa Ventures’ new fund about?
Catalpa Health Fund I is a €30 million venture capital fund supporting early-stage HealthTech startups across Europe. It focuses on pre-seed and seed investments, targeting companies that provide scalable, evidence-based solutions to healthcare challenges. Learn more about Catalpa Ventures' Fund
2. Who are the founders of Catalpa Ventures?
Dr. Thomas Goergen, Prof. Dr. Silke Sperling, Dr. Christian Goergen, and Willibrord Ehses founded Catalpa Ventures. They bring a mix of scientific, entrepreneurial, and investment expertise to the fund.
3. How much capital has Catalpa raised so far?
Catalpa has initially closed €10 million of its €30 million Catalpa Health Fund I, with a target to complete the full raise by early 2027. Check out Catalpa Ventures' progress
4. What kinds of startups will the fund invest in?
Catalpa Ventures will invest in HealthTech startups focusing on areas such as disease prevention, digital tools for clinicians, and software that improves healthcare workflows and reduces administrative burdens. Explore Catalpa's focus areas
5. How many investments does Catalpa plan to make?
The fund aims to back 15, 20 startups over the next four years, with ticket sizes ranging from €300,000 to €1.5 million for each investment. Learn more about Catalpa's investment strategy
6. What is the first investment by Catalpa Ventures?
Catalpa has invested in Noah Labs, a telemedicine company focused on heart failure management using voice analytics to reduce hospital readmissions. Discover Noah Labs
7. Why is Luxembourg emerging as a HealthTech hub?
Luxembourg offers a central European location, strong IT infrastructure, and a young, adaptable healthcare system. Additionally, Catalpa collaborates with institutions such as the Luxembourg Institute of Health. Learn more about Luxembourg’s role
8. What challenges does the fund aim to address in healthcare?
The fund targets solutions that address clinician shortages, ageing populations, rising chronic disease cases, and cost containment issues in Europe’s healthcare systems. Explore the healthcare challenges Catalpa addresses
9. What makes Catalpa Ventures unique as a VC firm?
Catalpa Ventures combines expertise in science, entrepreneurship, and investment, offering not just capital but also strategic guidance to its portfolio companies.
10. What is the fund’s ultimate goal?
Catalpa aims to invest in innovations capable of improving healthcare outcomes for at least 100 million people across Europe. Discover Catalpa’s mission
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.