Sunstone Capital
Venture capitalFrederiksberg · Pre-Seed–Series B · 8 people tracked
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.
Team · 8 people
from the firm's websiteWhat they invest in
from 31 of 48 portfolio companiesBiotech ×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 pathBiotechThousand 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 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
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
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)
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
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)
Co-investorsLumira Ventures
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
Cantargia is a company listed on Nasdaq Stockholm (Small Cap).
BiotechHealthtech
Co-investorsBioMedPartnersInkef
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
Evolva (EvoNext Holdings SA / Evolva Holding AG) develops and markets flavour and fragrance products.
BiotechFoodTechNew Materials
Co-investorsVenturEastEntrepreneurs FundNice & Green
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
Co-investorsInnovestor VenturesM Ventures
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
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
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Biotech
Co-investorsAvoro Capital AdvisorsEIR VenturesKurma PartnersRA CapitalSamsara BioCapitalVivo Capital+2 more
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
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
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
Co-investorsIaso VenturesInvivo Capital Partners
Co-investorsIndustrifonden
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
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
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 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
Biopharmaceutical company targeting RIG-I for immune-mediated treatment of cancer and viral diseases; acquired by Merck in 2017.
Co-investorsMC Healthcare Ventures
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 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
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 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 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
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
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)
Co-investorsAvoro Capital AdvisorsKurma PartnersOberland Capital
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
Exits · 4
IPOs and acquisitions across the tracked portfolioAmgenNASDAQ: AMGNPrexton Therapeuticsacq. by LundbeckRigontecacq. by MerckTinkacq. by Visa
Portfolio news
latest coverage across their companies
Kynexis · insights.citeline.com · Aug 20, 2026

Ascelia · biospace.com · Aug 17, 2026

Cantargia · biospace.com · Aug 4, 2026
Vaximm · ca.investing.com · Aug 3, 2026
Alligator Bioscience · investing.com · Jul 23, 2026
IO Biotech · european-biotechnology.com · Apr 2, 2026
F2G · endpoints.news · Jan 23, 2026
Fund performance · per public LP disclosures · 4
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Sunstone Partners IIILPs: Los Angeles City Employees' Retirement System | 2022 | — | -18.8% | 0.83x | 0.00x |
| Sunstone Partners IILPs: Los Angeles City Employees' Retirement System | 2020 | — | 18.8% | 1.55x | 0.60x |
| SunStone Co-InvestmentLPs: San Diego City Employees' Retirement System | 2015 | — | 43.3% | 5.04x | 5.04x |
| Sunstone Partners ILPs: Los Angeles City Employees' Retirement System | 2015 | — | 34.3% | 3.30x | 2.49x |
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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