About This Fund
Clave Innohealth is a Spanish venture capital fund managed by Clave Capital, a Pamplona-based investment firm founded in 2001 with over 20 years of experience and more than 90 technology investments across its history. Clave Capital manages approximately €90 million across four verticals — Tech Transfer Food, Growth (industrial SMEs), Energy, and Tech Transfer Health — with Clave Innohealth as its dedicated healthcare-focused vehicle. The fund is registered with Spain's CNMV (ISIN ES0154433009) as a Fondo de Capital-Riesgo, anchored by CDTI through its Innvierte programme — Spain's public R&D investment initiative — which committed €40 million following a competitive selection involving 11 investment managers.
The fund targets early-stage bio-health innovation in Spain and Europe, writing initial cheques of €500,000 to €1 million with follow-on capacity up to €3 million per company. It aims to back approximately 30–35 companies from inception through Series A, spanning medtech, digital health, e-health, health-nutrition, and biotech sectors. The fund opened a Barcelona delegation at the Barcelona Science Park, headed by Giacomo De Simone, a specialist in pharmaceutical innovation and venture capital previously at Vall d'Hebron Research Institute, to support broader European dealflow.
A first close of approximately €50 million was announced in February 2023, against a target of €65 million and a hard cap of €80 million. Anchor LP capital beyond CDTI/Innvierte was provided by family offices linked to the health sector, pharmaceutical laboratories, financial investors, and academic institutions. The Innvierte anchor structure reflects the Spanish government's strategic priority to channel public R&D capital into early-stage health technology ventures, making Clave Innohealth a key vehicle for Spain's biohealth innovation ecosystem.