Fundraising Fox

Sunstone Capital

Venture capital

Frederiksberg · Pre-Seed–Series B · 8 people tracked

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Investment thesis

Sunstone Life Science Ventures backs early-stage European life science companies developing novel human therapeutics. The firm's stated purpose is to identify, enable, and empower promising therapeutics innovations, helping translate new science into new products that improve patient outcomes. It aims to create value for innovators, investors, and healthcare systems worldwide. Since its founding in 2007, the firm has supported a range of clinical trials and contributed to bringing new drugs to market. Its portfolio is managed through a series of funds. The firm is supported by InnovFin Equity, backed by the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI).

Source: firm website, verified Aug 3, 2026.

Stage
Pre-Seed–Series B
HQ
Frederiksberg, DK
Leads rounds
Follows
Instruments
Equity
Founded
2007
AUM
$494.6M
Tracked investments
48

Team · 8 people

from the firm's website
Sophie Blomgren-Hansen· Student Assistantin

What they invest in

from 31 of 48 portfolio companies

Biotech ×24Healthtech ×18Medical Devices ×10Deep Tech ×6Digital Health ×3AI & Machine Learning ×2Fintech ×2Marketplaces ×2

HQs:Sweden×6Denmark×4United States×3France×2United Kingdom×2Belgium×1

Investments · 48 tracked

founders shown can be your intro path
Amgenamgen.dkinNASDAQ: AMGN

BiotechThousand Oaks, US

Kave NiksefatinDavid Piacquad(Executive Officer)Francois de Carbonnel(Director)Brian M. McNamee(Executive Officer)Tyler Jacks(Director)Ronald D. Sugar(Director)

Co-investorsAsset Management CompanyMayfield Fund

DiogenX’s websitediogenx.comin✓ verified

DiogenX is a preclinical-stage biotech company developing biologic therapeutics aimed at restoring insulin-producing beta cells for people with Type 1 diabetes.

BiotechDeep TechDigital HealthHealthtechMarseille, FR

Benjamin Charles(Co-Founder & CEO)Patrick Collombat(Co-Founder & Scientific Advisor)inJean-Pascal Tranié(Co-Founder)in

Co-investorsAdBio partnersRoche Venture FundBoehringer Ingelheim Venture FundJDRF T1D Fund

Acarixacarix.comin𝕏

Acarix provides diagnostic systems and supports investigator-initiated clinical trials and research projects to advance medical knowledge in cardiovascular disease assessment.

Digital HealthHealthtechMedical Devices

Co-investorsSEED Capital Denmark

Action Pharma
Alligator Biosciencealligatorbioscience.sein𝕏

Alligator Bioscience AB is a biotechnology company whose shares are listed on NASDAQ Stockholm (Small Cap) under the ticker ATORX.

BiotechHealthtechLund, SE

Mathias Uhlen(Director)Claes Ericsson(Director)Peter Benson(Director)Jacob Lindberg(Director)Kenth Petersson(Director)Jonas Sjogren(Director)

Arcomaarcoma.sein

Arcoma develops high-end radiology and X-ray imaging systems, integrating detectors and imaging software through partnerships with technology providers such as Canon Medical Systems and Varex.

Advanced ManufacturingHardwareHealthtechMedical DevicesVäxjö, SE

Mattias Leire(VD (CEO))Mattias Guldstrand(CTO)Göran Edwall(Interim CFO)André Malmberg(COO)

Co-investorsEiffel Investment Group

Asceliaascelia.comin

Ascelia Pharma is a biotech company developing and commercializing drugs for rare, orphan oncology-related conditions with unmet medical needs.

BiotechHealthtechMedical DevicesMalmö, SE

Magnus Corfitzen(Chief Executive Officer)Andreas Norlin(Chief Scientific Officer)Jennie Wilborgsson(Chief Operating Officer)Anton Hansson(Chief Financial Officer)

Assertiotxassertiotx.com

Co-investorsLumira Ventures

Bina health-beautyin𝕏

BiotechHealthtechMedical Devices

Co-investorsLongitude CapitalSGH Capital

BloomNationbloomnation.comin𝕏

BloomNation operates the Promenade SaaS platform, providing e-commerce, point-of-sale, and order management tools for local small businesses such as flower shops, restaurants, pizzerias, and beverage and liquor stores across the US.

ConsumerE-commerceMarketplacesRetail TechSaaS

Farbod Shoraka(CEO & Co-founder)Gregg Weisstein(Co-founder)

Co-investorsAndreessen HorowitzChicago VenturesSpark CapitalA.Capital VenturesLighter CapitalMucker Capital+5 more

Cantargiacantargia.com

Cantargia is a company listed on Nasdaq Stockholm (Small Cap).

BiotechHealthtech

Cardior Pharmaceuticals GmbHcardior.de

Co-investorsBioMedPartnersInkef

Egaletegalet.comJan 2019

Egalet develops medicines for people living with moderate to severe pain, including approved and licensed pain products.

BiotechHealthtechMedical DevicesWayne, US

BARBARA A. CARLIN(SENIOR VICE PRESIDENT AND CHIEF ACCOUNTING OFFICER)ROBERT S. RADIE(CHIEF EXECUTIVE OFFICER)MARK STROBECK(EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER)MEGAN TIMMINS(SENIOR VICE PRESIDENT AND GENERAL COUNSEL)PATRICK M. SHEA(SENIOR VICE PRESIDENT AND CHIEF COMMERCIAL OFFICER)Jeffrey M. Dayno(Chief Medical Officer)

Co-investorsAtlas Venture

Euro Diagnostica
Evolvaevolva.com

Evolva (EvoNext Holdings SA / Evolva Holding AG) develops and markets flavour and fragrance products.

BiotechFoodTechNew Materials

Co-investorsVenturEastEntrepreneurs FundNice & Green

F2Gf2g.com

F2G is a biotechnology company developing novel antifungal therapies to treat rare, life-threatening fungal infections in defined patient populations.

BiotechHealthtech

Co-investorsAdvent Life SciencesAisling CapitalAMR Action FundAstellas Venture Management LLCBrace PharmaSofinnova Partners+3 more

Follicumfollicum.com
Forendo Pharmaforendo.com

Co-investorsInnovestor VenturesM Ventures

Galecto Biotechgalecto.comin

Damora Therapeutics is a biotechnology company developing subcutaneous biologics as targeted, disease-modifying treatments for patients with mutant calreticulin (mutCALR)-driven myeloproliferative neoplasms such as essential thrombocythemia and myelofibrosis.

BiotechMedical Devices

Jennifer Jarrett(Chief Executive Officer & Board Director)Sherwin Sattarzadeh(Chief Operating Officer)Becker Hewes(Chief Medical Officer)Garrett Winslow(General Counsel)Jim Baker(Chief Corporate Affairs Officer)Brian Burkavage(Senior Vice President, Finance)

Co-investorsEIR VenturesM VenturesSEED Capital DenmarkYsios CapitalMaverick VenturesOrbiMed

Grandhoodgrandhood.dkin

Grandhood provides pension advisory and financial services in Denmark.

FintechDenmark, DK

Erik Frandsen(Kaptajn & Ejer)Morten Dyhrberg Wewer(Co-CEO)Adam Ørskov(Co-CEO)

Co-investorsSEED Capital Denmark

Jurag Separation
Kynexiskynexistx.comin𝕏

Kynexis is a clinical-stage biotech developing KYN-5356, an oral small-molecule KAT-II inhibitor targeting the kynurenine pathway to improve cognition in neurological diseases.

BiotechDeep TechHealthtech

Robert Schwarcz(Scientific Co-founder)Carol Tamminga(Scientific Co-founder & Chair of the SAB)Christer Köhler(Founding Director)Kees Been(Chief Executive Officer)Jens Wendland(Chief Medical Officer)Neil Swami(Chief Business Officer)

Co-investorsYsios CapitalForbionNovartis Venture Fund

MakieLabmakielab.comin

London, GB

Co-investorsTechstarsLifeline Ventures

MinervaXminervax.comin

MinervaX is a clinical-stage biotech company developing a prophylactic vaccine against Group B Streptococcus, with a lead candidate (AlpN GBS) in clinical trials for use in pregnancy and older adults.

BiotechHealthtech

Co-investorsAdjuvant CapitalIndustrifondenLU InnovationOrbiMedPureos BioventuresSanofi Ventures+1 more

Mojiworksmojiworks.comin

Mojiworks develops games that connect communities through social play on platforms like Discord, Reddit, and Snapchat.

AI & Machine LearningCreator EconomyGaming

Matthew Wiggins(CEO)in

Co-investorsBalderton CapitalLifeline VenturesHeartcore Capital

Neumirna Therapeuticsneumirna.com

Co-investorsIaso VenturesInvivo Capital Partners

Nuevolution

Co-investorsIndustrifonden

Obliquetobliquet.comin

Oblique Therapeutics is a biotechnology company developing new drug candidates, using its AbiProt technology to generate antibodies against high-value targets.

AI & Machine LearningBiotechStockholm, SE

Orphazymeorphazyme.com

Orphazyme was a biopharmaceutical company focused on research and development of therapeutics for neurodegenerative diseases such as Niemann Pick disease type C.

BiotechHealthtech

Oxtheraoxthera.com

OxThera is a privately-held biopharmaceutical company developing Oxabact, an orally administered enteric biotherapy that promotes secretion and degradation of oxalate in the gut to reduce kidney burden.

BiotechHealthtechMedical DevicesStockholm, SE

Co-investorsYsios Capital

Precisense
Prexton Therapeuticsprextontherapeutics.cominacquired by Lundbeck

Prexton Therapeutics was a biopharmaceutical company developing novel therapies for Parkinson's disease, including its lead mGluR4 modulator candidate foliglurax.

BiotechHealthtechMedical DevicesCopenhagen, DK

Co-investorsCardinal PartnersM VenturesSeroba Life SciencesYsios Capital

Resalis Therapeuticsresalistherapeutics.comin

Resalis Therapeutics develops RNA-based therapies targeting non-coding RNAs to address the underlying causes of complex metabolic disorders.

BiotechHealthtech

Co-investorsClaris VenturesItalian Angels for Growth

Rigontecacquired by Merck

Biopharmaceutical company targeting RIG-I for immune-mediated treatment of cancer and viral diseases; acquired by Merck in 2017.

Co-investorsMC Healthcare Ventures

Rwdtxrwdtx.comin

Rewind Therapeutics is a biotech company developing first-in-class remyelination therapeutics that aim to repair the myelin sheath in patients with diseases such as multiple sclerosis, optic neuritis, and nerve injuries.

BiotechDeep TechHealthtechLeuven, BE

Co-investorsBoehringer Ingelheim Venture FundPMVM Ventures

Step Pharmastep-ph.comin

Step Pharma develops dencatistat (STP938), a first-in-class, orally bioavailable CTPS1 inhibitor in clinical development as a targeted oncology therapy for blood cancers such as lymphoma and essential thrombocythaemia as well as solid tumours including ovarian cancer.

BiotechDeep TechMedical DevicesSaint-Genis-Pouilly, FR

Co-investorsHadean VenturesKurma PartnersPontifax Venture CapitalV-Bio Ventures

Stipe Therapeuticsstipetherapeutics.com
Svarlifesciencesvarlifescience.com
Symphogensymphogen.dk
Synendossynendos.comin

Synendos Therapeutics is a clinical-stage neuroscience company developing therapies that target the Endocannabinoid System to treat neuropsychiatric disorders at their root cause.

BiotechDeep TechMental Health

Co-investorsKurma PartnersYsios Capital

TargED Biopharmaceuticalstargedbiopharmaceuticals.comin

TargED Biopharmaceuticals is a Netherlands-based biotechnology company developing first-in-class biological drugs that use small antibodies (VHH) to deliver enzymes to sites of thrombosis for targeted thrombolysis.

BiotechMedical Devices

Co-investorsAndera PartnersCurie CapitalFund+Hadean VenturesRotripBioGeneration Ventures+1 more

Teitur Trophicsteiturtrophics.comin

Teitur Trophics is a biotech company developing first-in-class cyclic peptides that target lysosomal, mitochondrial and pro-survival signaling pathways to preserve neuronal function.

BiotechDeep TechHealthtechAarhus, DK

Simon Mølgaard(Co-founder & CEO)Anders Dalby(Co-founder)Mathias Ollendorff(Co-founder)Simon Glerup(Co-founder)

Co-investorsIndustrifondenP53 InvestInnovestorSound Bioventures

Tinktink.comin𝕏acquired by Visa

Tink operates a cloud-based open banking platform accessed through a single API, offering payment initiation and account data aggregation/enrichment services under its own PSD2 license.

Data & InfrastructureFintechSaaS

Daniel Kjellén(Founder)in

Co-investorsDawn CapitalFinTech VenturesInsight PartnersOpera Tech Ventures

Vaximmvaximm.com

VAXIMM is a clinical-stage biopharmaceutical company developing oral T-cell immunotherapies for cancer, based on technology invented at UC San Diego.

BiotechDigital HealthHealthtech

Andreas Niethammer(Founder & Chief Executive Officer)

Zealand Pharmazealandpharma.com

Co-investorsAvoro Capital AdvisorsKurma PartnersOberland Capital

Zolarzolar.dein𝕏

Zolar operates an online platform that connects homeowners in Germany with vetted regional installation companies for solar and clean-energy projects, including photovoltaic systems, balcony power plants, wallboxes, and solar storage.

CleantechEnergyMarketplaces

Alex Melzer(Founder)in

Co-investorsEnergy Impact PartnersInven CapitalBNP ParibasStatkraft Ventures

Zymenex

Exits · 4

IPOs and acquisitions across the tracked portfolio

AmgenNASDAQ: AMGNPrexton Therapeuticsacq. by LundbeckRigontecacq. by MerckTinkacq. by Visa

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures · 4

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
Sunstone Partners IIILPs: Los Angeles City Employees' Retirement System2022-18.8%0.83x0.00x
Sunstone Partners IILPs: Los Angeles City Employees' Retirement System202018.8%1.55x0.60x
SunStone Co-InvestmentLPs: San Diego City Employees' Retirement System201543.3%5.04x5.04x
Sunstone Partners ILPs: Los Angeles City Employees' Retirement System201534.3%3.30x2.49x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Sunstone Capital made?
Sunstone Capital has 30 tracked investments, 2 of which have exited via acquisition or IPO.
What stage does Sunstone Capital invest at?
Sunstone Capital invests at the Pre-Seed, Seed, Series A, Series B stages.
What sectors does Sunstone Capital focus on?
Sunstone Capital focuses on Biotech, Deep Tech, Healthtech, Medical Devices.
Where is Sunstone Capital located?
Sunstone Capital is headquartered in Frederiksberg, DK.
Does Sunstone Capital lead rounds?
Sunstone Capital typically participates in rounds rather than leading them.
Who does Sunstone Capital co-invest with?
Sunstone Capital most often shares deals with Kurma Partners, Ysios Capital, M Ventures, among 32 tracked co-investors.

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