Investment firms
During 2025, startups and scaleups based in Catalonia secured €517 million in investment, a historic record representing a 43% increase compared to the previous year. In 2025, the number of investment firms rose by 40%, from 57 to 80. Both domestic (36) and international firms grew, with the latter reaching a record high of 44 companies.
Ysios Capital
The most prominent healthcare VC firm in Spain, with the strongest international projection. It invests globally in biotechnology companies developing innovative therapies and manages over €400 million in assets across three funds.
It has recently announced an agreement with Andbank to advise the new Telescope Biotech Fund, focused on listed companies, which has positioned itself as the top-performing FIL in Spain.
Attraction of investment firms
In 2025, the entry of international capital stands out, totaling 174 firms (112 in the last five years) to date, mainly from Europe and the United States, and often playing a key role in closing large deals. The growing weight of corporate venture capital (CVC), such as Novartis, Roche, Sanofi, and Werfen, brings not only capital but also industrial validation, market access, and partnership capabilities, while the ENISA certification enhances the sector’s tax attractiveness by offering 50% tax deductions on health investments.
82% of the venture capital raised includes international participation
Venture capital (VC) investment raised by startups and scaleups reached €320 million in 2025 (+13% vs. 2024), thus tripling the low point of two years ago. This growth is driven by co-investment between domestic and international firms, which accounts for 82% of the total VC volume (€263.5 million). A total of 44 international companies participated in 18 rounds (47%), either through syndicated deals or independently, being present in virtually all major transactions. Once again, it is confirmed that the sector’s dynamics require attracting international capital to drive large investment rounds—a key factor in advancing research to patients—in which the momentum of venture capital fund managers established in the ecosystem plays a fundamental role.
Specialized investment firms
The BioRegion has more than 70 investment firms in health, including 8 investment funds specialized in the life sciences and health sector.
Asabys Partners
Focuses on investment in innovative early stage companies in health (biotechnology, medical technology, disruptive services and digital therapeutics). Its second fund successfully closes with €180M after exceeding its target of €150M.
CGHealth Ventures
Provides investment and support for early stage projects by innovative startups, especially in digital health, information technology for health and genomics.
Grow Venture Partners
Grow Venture Partners is a venture capital firm specialized in deep tech originating from universities and research centers, driving the growth of companies and their founders.
Institut Català de Finances
ICF is the public promotional bank of the Government of Catalonia that fosters economic growth through financing, guarantees, and investment.
Inveready
Their life sciences branch focuses on early stage and series A projects in drug development, with in vivo proof of concept and toxicology, as well as digital health and consumer health projects. Manages assets valued at €60 million, 19 companies.
Invivo Ventures
Venture capital firm specializing in early-stage healthcare companies, with investments in 15 companies and 3 successful exits. Its companies have raised over €350 million in global venture capital.
Nara Capital
NARA is a multi-strategy investment firm that drives projects in health, technology, and sustainability with social and environmental impact.
Ship2B Ventures
Ship2B Ventures is a venture capital firm that invests in impact startups with the aim of generating financial returns as well as social and environmental impact.ental.
We Venture Capital
We Venture Capital is Werfen’s corporate venture capital fund that invests in diagnostic startups and digital health solutions to drive innovation and improve clinical outcomes.
Ysios Capital
The most prominent healthcare VC firm in Spain, with the strongest international projection. It invests globally in biotechnology companies developing innovative therapies and manages over €400 million in assets across three funds.
It has recently announced an agreement with Andbank to advise the new Telescope Biotech Fund, focused on listed companies, which has positioned itself as the top-performing FIL in Spain.