Hadean Ventures
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Hadean Ventures is a European venture capital fund manager with over EUR 230 million in assets under management, with a track record in life sciences. The firm invests across sectors and stages, focusing on science-driven innovation and healthcare.
Also known as Hadean Capital
Investors · 3
Company profile
researched Aug 2026Hadean Ventures is a European venture capital fund manager headquartered in Oslo, Norway, with an additional office at the Karolinska Institute Science Park in Stockholm, Sweden. Founded in 2014, the firm specialises in life science, biotech and healthcare companies across Europe and manages approximately EUR 230 million in assets. Its stated focus is science-driven innovation addressing complex, real-world challenges and unmet medical needs, with investments spanning therapeutics, diagnostics, medical devices and digital health.
The firm operates a family of funds, including Hadean Capital I (closed July 2019) and Hadean Capital II (closed December 2023 at EUR 144 million, above a EUR 125 million target), as well as a Hadean Growth Fund that has participated in portfolio company financings. Its investor base comprises European and US institutional and private investors alongside government-backed fund investors Saminvest AB, Argentum and Investinor; by category, fund-of-funds account for 43 percent of commitments, family offices 27 percent, pension funds 21 percent and foundations 9 percent.
The team is led by Managing Partners Ingrid Teigland Akay and Walter Stockinger, with Partner Roger Franklin, Principal Georgina Askeland, venture partners, and dedicated functions covering finance, legal, investor relations, and impact/ESG.
Business model
Hadean Ventures manages closed-end venture capital funds on behalf of third-party limited partners, deploying committed capital into equity positions in life science and healthcare companies and seeking returns through exits such as trade sales and public listings.
As a fund manager, the firm earns management fees on committed capital and carried interest on realised fund gains.
Traction
The firm reports over EUR 230 million in assets under management and a portfolio of roughly 19-22 companies. Realised or announced exits include Themis Bioscience (acquired by MSD in May 2020), Cardior Pharmaceuticals (acquired by Novo Nordisk, announced March 2024), Abliva (acquired by Pharming, completed 2025), Emergence Therapeutics and SAGA Diagnostics. Portfolio milestones include ARTHEx Biotech's upsized $87 million Series B, Step Pharma's EUR 38 million Series C, TargED's EUR 40.4 million Series A2, and FDA 510(k) clearance for Neuro Event Labs' Nelli seizure monitoring system.
Latest developments
Recent portfolio news published by the firm includes first patients dosed in TargED's TGD001 acute ischemic stroke study (July 2026), TargED's EUR 40.4 million Series A2 (June 2026), Oncoinvent reaching 50 percent recruitment in its Phase 2 ovarian cancer study of Radspherin (June 2026), Gesynta Pharma randomising 50 percent of patients in its Phase 2 endometriosis trial (June 2026), and Complement Therapeutics completing Cohort 1 dosing with a favourable IDMC recommendation in the Phase I/II Opti-GAIN study (May 2026).
▸Full profile — market position, go-to-market, geography, history
Market position
Positioned as a European life sciences venture capital manager with a Nordic base, roughly EUR 230 million under management and two closed funds; it is backed by government-linked investors Saminvest AB, Argentum and Investinor alongside institutional and private LPs.
The firm combines a Nordic and broader European life sciences focus with stage flexibility from early to growth investing, academic partnerships such as the Karolinska Institute, and an explicit ESG and impact orientation supported by a dedicated Impact & ESG manager.
Go-to-market
The firm sources deals through its Nordic and European life science network and collaborations with academic institutions, including the Karolinska Institute, and accepts inbound submissions through an online pitch portal on its website. Investor relations and fundraising are handled by a dedicated director.
Investment targets are private life science and healthcare companies in Europe, from early stage through growth, across therapeutics, diagnostics, medical devices and digital health; its capital providers are institutional investors, pension funds, funds-of-funds, family offices and foundations.
Geography
Headquarters at Dronningen 1, Oslo, Norway, with a second office at the Karolinska Institute Science Park in Stockholm, Sweden. Portfolio companies are located in Norway, Sweden, Denmark, Finland, Germany, Austria, Spain, France, the Netherlands, the United Kingdom and the United States.
History
The firm was founded in 2014 and is based in Oslo. Its first fund, Hadean Capital I, closed in July 2019. A first close of EUR 90 million on its second fund was announced in September 2021, and Hadean Capital II reached an oversubscribed final close in December 2023 at EUR 144 million, above its EUR 125 million target. A Hadean Growth Fund has since invested alongside the main funds, joining Gesynta Pharma's Series B second closing in 2025.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsGesynta Pharma announced a second closing of its Series B totalling SEK 347 million, with HealthCap and the Hadean Growth Fund joining the investor syndicate.
Pharming Technologies B.V. declared its recommended cash offer to Abliva AB shareholders unconditional and completed the offer, extending the acceptance period. Abliva is listed as an exited portfolio company acquired by Pharming in 2025.
Novo Nordisk announced the acquisition of portfolio company Cardior Pharmaceuticals, a clinical-stage developer of RNA therapeutics for cardiac disease.
Hadean Ventures announced the oversubscribed final close of its second fund, Hadean Capital II, at EUR 144 million, exceeding a EUR 125 million target. The fund closed in December 2023.
The firm announced a first closing of EUR 90 million for its second fund.
Vienna-based vaccine developer and portfolio company Themis Bioscience was acquired by MSD in May 2020 to accelerate coronavirus vaccine development.
The firm's first fund, Hadean Capital I, is recorded as a closed fund with a close date of July 2019.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Hadean Ventureshadeanventures.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Hadean Ventures do?
- Oslo-based European venture capital fund manager investing in life sciences and healthcare across stages.
- Who are Hadean Ventures's investors?
- Hadean Ventures's investors include Farvatn Venture, KfW Capital, Tesi (Finnish Industry Investment Ltd).