Investor profile
Kurma Partners
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Kurma Partners is a specialist European healthcare investor dedicated to transforming disruptive scientific discoveries — predominantly from elite European academic and research institutions — into cutting-edge medicines, diagnostics, and medical devices targeting severe diseases with high unmet medical need. The firm describes itself as a 'leading venture builder in the European biotech ecosystem,' working closely with research teams 1–3 years before investment to design scientifically grounded development plans, recruit experienced healthcare industry experts, and co-create companies through its Argobio venture-builder studio. Kurma manages ~€890 million across thematic funds: the Biofund series (I–IV) for innovative therapeutics (Biofund IV: €215M, targeting 16–20 investments of €10–20M per company); the Kurma Diagnostics funds for diagnostics and digital health; and the Kurma Growth Opportunities Fund (€167M) for late-stage, crossover, and public-market investments in therapeutics, diagnostics, HealthTech, and MedTech. The firm invests primarily in Europe but also selectively outside Europe, and has been fully integrated into Eurazeo since April 2025.
Notable quotes
“We expect to invest around €10–20 million per company. Before investing in companies, we spend 1 to 3 years to work with academics, either directly as the investment team of Kurma or through our Start-up Studio Argobio to transform disruptive scientific discoveries into drug candidates.”
“Biotech differs from other sectors in that the most critical decisions — like selecting a clinical candidate — occur at an early stage, often when resources are limited and companies are still taking shape. That is why having deep scientific and industrial expertise concentrated at the earliest stages is essential.”
“Kurma a la boîte à outils pour accompagner ces jeunes pousses, en leur apportant d'emblée les financements à la hauteur des besoins, co-syndiqués avec des investisseurs internationaux qui contribuent avec leurs propres réseaux et compétences.”
Team
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Adcytherix | Series A | $115m | 2025-10-01 |
| Alveus Therapeutics | Series A | $160m | 2025-01-01 |
| TargED Biopharmaceuticals | Series A | $46m | 2025-12-15 |
| Nuclidium | Series B | $33m | 2026-05-27 |
| Damae Medical | Later Stage VC | — | 2025-08-04 |
| ImCheck Therapeutics | Acquisition | — | 2025-01-01 |
| Pharvaris | IPO | — | 2021-01-01 |
| DNA Script | Series B | — | 2021-01-01 |
| Zealand Pharma | Seed | — | 2010-01-01 |
| Memo Therapeutics | Series C | — | 2024-01-01 |
Frequent co-investors
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