# Hadean Ventures
Hadean Ventures is a Norway-based European venture capital firm that manages life-science investments, reporting approximately EUR 244 million in committed capital across its funds.[1](https://hadeanventures.com/) The firm invests in pharma, biotech, medtech, diagnostics, and digital health companies across Europe, with an emphasis on the Nordics and German-speaking countries, and has offices in Oslo and Stockholm.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html)
| Key fact | Detail |
| --- | --- |
| Type | Life-science venture capital firm |
| Headquarters | Oslo, Norway, with a Stockholm office[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) |
| Founders | Ingrid Teigland Akay, Walter Stockinger, and Siro Perez, all formerly of Inventages Venture Capital[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) |
| Funds | Fund I EUR 100m (2017); Hadean Capital II EUR 144m (2023)[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) • [2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) |
| Total committed capital | Approx. EUR 230 million across two funds[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) |
| Notable LPs | Varner, Gjensidigestiftelsen, Oslo Pensjonsforsikring, SamInvest, Argentum; EIF, KfW Capital, Tesi, Investinor[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) • [2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) • [1](https://hadeanventures.com/) |
| Notable exits | Themis (MSD, 2020), Emergence (Eli Lilly, 2023), Cardior (Novo Nordisk, 2024), Abliva (Pharming, 2025)[4](https://hadeanventures.com/portfolio/) |
| Status | Active; latest confirmed events in 2025[4](https://hadeanventures.com/portfolio/) |
## History and people
Hadean Ventures was formed by Ingrid Teigland Akay, Walter Stockinger, and Siro Perez, all of whom previously worked together at Inventages Venture Capital, a Switzerland-based venture capital firm backed by Nestlé.[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) The firm reached its first fund close in December 2017.[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) A directory profile lists a 2014 founding year at an Oslo address (Dronningen 1), but this figure is unverified.[5](https://pitchbook.com/profiles/investor/186635-53)
The firm's current leadership lists Ingrid Teigland Akay and Walter Stockinger as Managing Partners, Roger Franklin as Partner, and Georgina Askeland as Principal; Siro Perez no longer appears on the team page.[1](https://hadeanventures.com/) As of February 2022, the firm described a team of 10 investment professionals with offices in Oslo and Stockholm and presence in Germany, Austria, and the UK.[1](https://hadeanventures.com/)
## Strategy
Hadean invests in life science start-up companies across Europe, with an emphasis on the Nordics and German-speaking countries, spanning pharma, biotech, medtech, diagnostics, and digital health.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) Its first fund targeted life sciences developers in European regions underserved by venture capitalists, particularly the Nordic region.[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) Managing Partner Walter Stockinger said the second fund builds on the Hadean Capital I strategy of investing in start-ups at different stages of development and across modalities and indications.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html)
The firm has added a later-stage vehicle: the Hadean Growth Fund invests across all healthcare verticals, including biopharma, medical devices, diagnostics, R&D tools, and digital health, at Series B or later stage, primarily in Europe with a particular emphasis on the Nordics, under an Article 8 SFDR disclosure dated March 2025 (an EU sustainable-investment classification).[4](https://hadeanventures.com/portfolio/)
## Funds (by the numbers)
**Fund I (2017).** The first fund closed at EUR 100 million (about USD 119 million) in December 2017. Limited partners included textiles retailer Varner; Gjensidigestiftelsen, the foundation that controls insurer Gjensidige; pension fund Oslo Pensjonsforsikring; SamInvest, a VC arm of Sweden's state-owned Almi Företagspartner; and growth equity firm Argentum, which invested approximately USD 19 million in September 2017.[3](https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/) The firm's funds are supported by European and US institutional and private investors as well as government-backed fund investors Saminvest AB, Argentum, and Investinor.[1](https://hadeanventures.com/)
**Hadean Capital II (2023).** The second fund was launched in September 2021 and reached a final close of EUR 144 million on 21 December 2023, substantially above its EUR 125 million target, bringing the firm's total committed capital to approximately EUR 244 million.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) New investors included EIF (European Investment Fund), KfW Capital, and Tesi, alongside support from existing investors.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) By the close, the fund had invested in six companies: Alex Therapeutics, Arthex Biotech, Complement Therapeutics, Emergence Therapeutics, Ribbon Biolabs, and TargED.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html)
## Portfolio and exits
**Fund II investments.** The six companies named at the 2023 close are Alex Therapeutics, Arthex Biotech, Complement Therapeutics, Emergence Therapeutics, Ribbon Biolabs, and TargED Biopharmaceuticals.[2](https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html) In December 2021 the firm joined [Emergence Therapeutics](https://www.edgepedia.org/emergence-therapeutics)' EUR 87 million Series A led by Pontifax, with Roger Franklin joining the board.[1](https://hadeanventures.com/) In February 2022 it co-led, with equal contribution, a EUR 39 million Series A in TargED Biopharmaceuticals alongside [Andera Partners](https://www.edgepedia.org/andera-partners), Fund+, Inkef Capital, and Sunstone Life Science Ventures.[1](https://hadeanventures.com/)
**Exits.** The firm's portfolio has produced several trade sales:
- Themis Bioscience, a Vienna-based vaccine developer, was acquired by MSD in May 2020 to accelerate coronavirus vaccine development.[4](https://hadeanventures.com/portfolio/)
- Emergence Therapeutics was acquired by Eli Lilly in 2023; the firm describes this as its first portfolio exit.[4](https://hadeanventures.com/portfolio/)
- Cardior Pharmaceuticals, a clinical-stage developer of RNA therapeutics for cardiac disease, was acquired by [Novo Nordisk](https://www.edgepedia.org/novo-nordisk) in March 2024.[4](https://hadeanventures.com/portfolio/)
- Abliva, a Swedish drug development company focused on rare primary mitochondrial diseases, was acquired by Pharming in 2025; Hadean had backed the company from 2020 and supported it through board work.[4](https://hadeanventures.com/portfolio/)
- Roche/[Foundation Medicine](https://www.edgepedia.org/foundation-medicine) has announced an agreement to acquire Saga Diagnostics, whose Pathlight MRD (minimal residual disease) platform is FDA-relevant and Medicare covered.[4](https://hadeanventures.com/portfolio/)
A directory profile additionally lists exits at Oncoinvent (October 2025, merger/acquisition) and Contineum Therapeutics (April 2024); these are unverified.[5](https://pitchbook.com/profiles/investor/186635-53)
## Recent developments
The firm remained active after the December 2023 fund close. Portfolio company TargED Biopharmaceuticals initiated Phase 1 of TGD001, a targeted protein degradation oncology asset, in December 2024.[4](https://hadeanventures.com/portfolio/) The Abliva exit to Pharming completed in 2025, and the firm disclosed the Hadean Growth Fund under Article 8 of the EU's SFDR regulation in March 2025.[4](https://hadeanventures.com/portfolio/) A directory profile lists further 2024-2025 deals including Gesynta Pharma (October 2025), Step Pharma (October 2025), Arthex Biotech (September 2025), [Actithera](https://www.edgepedia.org/actithera) (July 2025), SciRhom (July 2024), Neuro Event Labs (February 2025), Ribbon Bio (February 2025), and a later-stage round in TargED (December 2025); this activity is unverified directory data.[5](https://pitchbook.com/profiles/investor/186635-53)
## References
1. Hadean Ventures - official site. https://hadeanventures.com/
2. Hadean Ventures announces oversubscribed final close of Hadean Capital II (PR Newswire, 21 December 2023). https://www.prnewswire.com/news-releases/hadean-ventures-announces-oversubscribed-final-close-of-hadean-capital-ii--a-fund-dedicated-to-investments-in-life-science-start-ups-across-europe-302020849.html
3. Hadean walls off $119m for life sciences fund (Global Corporate Venturing, 21 December 2017). https://globalventuring.com/blog/2017/12/21/hadean-walls-off-119-for-life-sciences-fund/
4. Portfolio - Hadean Ventures (including Hadean Growth Fund Article 8 disclosure, March 2025). https://hadeanventures.com/portfolio/
5. Hadean Ventures investment portfolio | PitchBook (directory profile, unverified data). https://pitchbook.com/profiles/investor/186635-53
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity › Venture capital firms of Europe, the Middle East, and Africa › Venture capital firms of Western Europe › Venture capital firms of Germany and the Nordics*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026; Oct 21, 2026; Oct 25, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license