Thuja Capital is an independent early-stage venture capital firm based in the Netherlands, specializing in investments in innovative life science and medical product companies across the Benelux region. The firm is currently investing out of its Thuja Capital Healthcare Fund III, which closed in December 2021 at EUR 76M (~USD 86M).
46% of their portfolio is in Biotech & Life Sciences. Average disclosed round size is $17.8M (across 5 rounds with reported amounts).
Portfolio
20
Fund Size
$86M
Top Stage
Series A
Last 12 Mo
0
Team
HV
Harrold van Barlingen
Managing Partner
MB
Michel Briejer
Managing Partner
EC
Evan Castiglia
Partner
FL
Florian Ludwig
Venture Partner
LB
Lisanne Blauw
Associate
MD
Michel de Baar
Biotech Investor
EP
Eleanor Price
Healthcare VC
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
24 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Salvia BioElectronics | Series B | $60M | May 2025 |
 Alesta | Series A | — | Jan 2025 |
 Alesta Therapeutics | Series A | — | Jan 2025 |
 Artica Therapeutics | Pre-Seed | — | Jan 2023 |
 Synerkine Pharma | Series A | — | Jan 2023 |
 InnoSIGN | Series A | $8M | Jan 2022 |
 EsoBiotec | Unknown | $250K | Jan 2021 |
| Synerkine Pharma | Series A | — | Jan 2021 |
 Salvia BioElectronics B.V. | Unknown | — | Sep 2020 |
| IIndigo Diabetes | Series B | — | Jul 2020 |
 Tacalyx | Seed | — | Sep 2019 |
| AAlveron Pharma | Seed | — | Jan 2019 |
| Synerkine Pharma | Series A | — | Jan 2019 |
 Mellon Medical | Unknown | — | Oct 2017 |
| Mellon Medical | Unknown | — | Jan 2017 |
| NNightbalance | Series B | $12.5M | Jul 2016 |
| OOkapi Sciences | Unknown | — | Nov 2008 |
 Fundamental Pharma | Seed | — | — |
 Gradient Denervation Technologies | Series A | — | — |
| IIndigo Diabetes | Series A | — | — |
 Atro | Unknown | — | — |
| PPan Cancer T | Unknown | — | — |
| IInnoSIGN | Series A | $8M | — |
| AAstriVax | Seed | — | — |
Top Co-Investors
BioGeneration Ventures4 shared
INKEF Capital3 shared
InnovationQuarter3 shared
Sofinnova Partners2 shared
coparion2 shared
High-Tech Gründerfonds2 shared
Frazier Life Sciences2 shared
Casdin Capital2 shared
Life Science Angels2 shared
PMV2 shared
Fund+2 shared
SHS Capital1 shared
Dolby Family Ventures1 shared
Invest-NL1 shared
OSS Capital1 shared
Innovation Industries1 shared
Creathor Ventures1 shared
Last updated: 7 October 2026