NLC Health Ventures

NLC Health Ventures is an Amsterdam-based healthtech venture builder and investment fund founded in 2014 by Bert-Arjan Millenaar, who continues to lead the firm as Founder and CEO. NLC describes itself as the world's largest healthtech venture builder and, since 2023, has been recognized as the most active early-stage healthcare investor in its category. The firm operates across Europe and the United States, co-founding companies from scientific invention through to clinical deployment in biotech, medtech, digital health, and what NLC terms green health. NLC's model is entrepreneurial at scale: each year the firm assesses more than 1,500 scientific inventions submitted by universities, academic hospitals, and corporates across 40-plus countries, then selects 20 to 25 to spin out as new ventures. In 2024 alone NLC launched 20 new companies and secured a record EUR 43.6 million in funding across the portfolio. Across more than a decade the firm has co-founded over 110 ventures — 76 active as of 2024 — impacting more than 2 million patients. The flagship vehicle today is the NLC Health Impact Fund, an Article 9 SFDR-classified fund targeting EUR 100 million with follow-on capacity of up to EUR 9 million per company through Series A and B. Notable portfolio ventures include Nicolab, an AI-driven stroke treatment platform, and Concord Neonatal, a shock-free birth technology originating from Leiden University Medical Centre. NLC is a certified B Corp aligned to UN Sustainable Development Goals 3, 9, and 17. With more than 80 staff — including 40-plus healthcare specialists — the firm provides portfolio companies with regulatory, product development, and clinical trial support. Strategic partnerships include Minnesota MedTech 3.0, announced in February 2025, which connects European startups to the Minnesota medtech corridor.