About Thuja Capital
Thuja Capital is a venture capital firm founded in 2006. It is primarily based out of Utrecht, Netherlands. As of Apr 2026, Thuja Capital has invested in 44 companies. It primarily invests in Series A round in Netherlands based startups. Its investments are spread across a wide range of sectors from Life Sciences to HealthTech and High Tech. Most recently it participated in the $***** Seed round of Tacalyx Overall, Thuja Capital portfolio has seen 4 IPOs and 13 acquisitions including key companies like argenx, Valneva and Galapagos. A lot of funds co-invest with Thuja Capital, with names like BOM sharing a substantial percentage of its portfolio. Thuja Capital has team of 12 people including 4 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
Thuja Capital's List of Top Investments
Thuja Capital has a portfolio of 44 companies. Their most notable investments are in Tacalyx and Alveron Pharma.Their portfolio spans across Netherlands, Belgium, Germany and 5 more locations. They have invested in Life Sciences, HealthTech, High Tech and 4 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Thuja Capital:1. argenx
Developer of antibody-based drugs to treat autoimmune diseases and cancer. The pipeline includes Oncology-ARGX-110, ARGX-111, ARGX-115, Autoimmunity ARGX-113, and ARGX-110. The proprietary technologies to identify the variable region from the llama's and introduces mutations in the constant region of the antibody for enhanced circulation in the system (NHance) and clearance post-therapy. The company has also developed a non-fucosylated antibody, which enhances antibody-dependent cytotoxicity.
Key facts about argenx
- Founded Year: 2008
- Location: Ghent (Belgium)
- Annual Revenue: €1B+ as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $61.9M
- Employee Count: 2,315 as on Aug 31, 2026
- Investors: Venrock, BB Biotech and 21 Others
- Latest Funding Round: Post IPO, Mar 24, 2022, $*****
- Highlight: Public
2. Valneva
Developer of prophylactic vaccines for infectious diseases. The company's lead candidate is VLA1553 is a live-attenuated, single dose vaccine targeting the chikungunya virus. Other products includes VLA15 for Lyme Disease, VLA84 for Clostridium difficile, and VLA1601 for zika virus
Key facts about Valneva
- Founded Year: 1999
- Location: Lyon (France)
- Stage: Public
- Total Funding till date: $114M
- Employee Count: 612 as on Sep 30, 2026
- Investors: Phase4 Partners, Eiffel Investment Group and 13 Others
- Latest Funding Round: Post IPO, Oct 05, 2022, $*****
- Highlight: Public
3. Galapagos
Developer of small molecule drugs for immunology and oncology. The company specialized in the discovery and development of small molecule and antibody programs in cystic fibrosis, inflammation, cancer and other indications.
Key facts about Galapagos
- Founded Year: 1999
- Location: Mechelen (Belgium)
- Annual Revenue: €100M - €500M as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $136M
- Employee Count: 583 as on Aug 31, 2026
- Investors: Gilde Healthcare, Eiffel Investment Group and 17 Others
- Latest Funding Round: Post IPO, Nov 01, 2019, $*****
- Highlight: Public
_1569575055341.png?format=webp&height=120&width=120){kind=logo}
4. Tacalyx
Tacalyx is developing therapeutic agents for cancer treatment. The lead products are developed to target cancer-specific carbohydrate antigens that are located on the surface of metastatic malignant tumors (TACAs and other related cell surface glycans).
Key facts about Tacalyx
- Founded Year: 2018
- Location: Berlin (Germany)
- Stage: Seed
- Total Funding till date: $35.6M
- Employee Count: 16 as on Aug 31, 2026
- Investors: Kurma Partners, Boehringer Ingelheim Venture Fund and 7 Others
- Latest Funding Round: Seed, Apr 29, 2026, $*****
- Highlight: Editors' Pick
Developer of small molecule therapies for rare diseases. It offers therapeutics targets in the chronic stress response pathways for the treatment of Hypophosphatasia with spectrum of symptoms including fragile bones, tooth loss and adult patients and Charcot-Marie-Tooth is a debilitating inherited neurological disorder.
Key facts about Alesta Therapeutics
- Founded Year: 2021
- Location: Leiden (Netherlands)
- Stage: Acquired
- Total Funding till date: $67.5M
- Employee Count: 21 as on Aug 31, 2026
- Investors: RTW Investments, Frazier Life Sciences and 5 Others
- Latest Funding Round: Series A, Jan 08, 2025, $*****
- Highlight: Acquired
Thuja Capital's Year-on-Year Investment Trends
Thuja Capital has invested in 44 companies over the last 18 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 3 investments, while as of Apr 2026, it has made 2 investments in this year. Its most recent first time investment was in Alesta Therapeutics and most recent follow-on round was in Tacalyx.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 2 | 2 |
2025 | 1 | 2 | 3 |
2024 | 1 | 1 | 2 |
2023 | 2 | 1 | 3 |
2022 | 3 | 0 | 3 |
2021 | 3 | 2 | 5 |
2020 | 0 | 2 | 2 |
2019 | 3 | 0 | 3 |
2018 | 1 | 0 | 1 |
2017 | 1 | 2 | 3 |
Thuja Capital's Investments by Stage
Thuja Capital has made 14 investments in Seed stage with an average round size of $12.1M, 14 investments in Series A stage with an average round size of $15.6M and 1 investment in PE stage with an average round size of $6.84M.Stage of entry | No. of Investments |
|---|---|
Seed | 14 |
Series A | 14 |
PE | 1 |
Note: We have considered here, only first round of investments
Thuja Capital's Investments by Sector
Thuja Capital has a diverse portfolio, with companies operating in the Life Sciences, High Tech, Enterprise Applications, HealthTech and Healthcare. Notably, it has invested in 36 Tech companies, 34 Enterprise (B2B) companies, 8 Software companies and at least 5 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Life Sciences | 25 |
High Tech | 3 |
Enterprise Applications | 2 |
HealthTech | 2 |
Healthcare | 2 |
Others | 3 |
Note: We have considered here, only first round of investments
Thuja Capital's Investments by Geography
Thuja Capital has made most investments in Netherlands (19), followed by Belgium where it has made 6 investments.Country | No. of Investments |
|---|---|
Netherlands | 19 |
Belgium | 6 |
Germany | 2 |
Canada | 1 |
France | 1 |
Note: We have considered here, only first round of investments
Thuja Capital's recent investments
Thuja Capital has made 2 investments in 2026 so far - Tacalyx and ATRO Medical.Here are the most recent investments by Thuja Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 29, 2026 | Germany | Seed | 2970 | ||
Feb 24, 2026 | Netherlands | Series A | 9879 | [+3] | |
Dec 08, 2025 | Netherlands | Series A | 3631 | [+2] | |
May 27, 2025 | Netherlands | Series B | 5561 | ||
Jan 08, 2025 | Netherlands | Series A | 5245 |
IPOs and Publicly Listed companies in Thuja Capital's Portfolio
4 of Thuja Capital's portfolio companies have become public. Galapagos got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in May 2015 at marketcap of $1.57B and argenx got listed on the Euronext Exchange (Euronext) at marketcap of $54.6M.Here are Thuja Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 13, 2015 | - | - | 3582 | |
Jul 10, 2014 | Sep 09, 2009 | Series A | 5516 | |
Mar 22, 2013 | - | - | 1014 | |
Jun 01, 2007 | - | - | 4100 |
Acquired companies in Thuja Capital's Portfolio
13 companies from Thuja Capital's portfolio have been acquired. The most recent acquisition was Alesta Therapeutics in Aug 2026 by BioMarin Pharmaceutical for $*****.Here are Thuja Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 18, 2026 | Jan 08, 2025 | Series A | 1873 | |
Mar 17, 2025 | 2021 | Seed | 4555 | |
Aug 02, 2021 | Oct 10, 2016 | Series A | 6312 | |
Nov 19, 2020 | Sep 20, 2010 | Seed | 2964 | |
Oct 12, 2020 | - | - | 9589 |
Team profile of Thuja Capital
Thuja Capital has a team of 12 members including 4 Partners located in Netherlands. Thuja Capital's team sits on the board of 1 company.Here is a list of top team members in Thuja Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Utrecht | - | ||
Partner | Hilversum | - | ||
Partner | The Hague | - | ||
Partner | Amsterdam |
Co-investors of Thuja Capital
Over the past 18 years, 129 investors have co-invested in Thuja Capital's portfolio companies. This includes funds and angels.
- Invested before Thuja Capital: HTGF, Boehringer Ingelheim Venture Fund and 19 others have invested in rounds before Thuja Capital. There are 2 companies where HTGF has invested before Thuja Capital and 1 company where Boehringer Ingelheim Venture Fund has invested before Thuja Capital.
- Top Co-investors of Thuja Capital: 52 investors entered a company along with Thuja Capital. These include investors like BOM (6 companies).
- Invested after Thuja Capital: A total of 56 investors have invested in Thuja Capital's portfolio after their investments. Top Investors include Europa (6 companies), EIC Fund (5 companies) and Rijksdienst voor Ondernemend Nederland (3 companies).
Recent News related to Thuja Capital
•
Tacalyx Secures €11 Million to Advance Lead TACA-Targeting ADC Programme Toward the ClinicWebDisclosure•Apr 29, 2026•Tacalyx, HTGF, Eurazeo, Kurma Partners and 3 others
•
Pan Cancer T Raises €10M in FundingFinSMEs•Dec 08, 2025•Thuja Capital, Pan Cancer T, InnovationQuarter, Erasmus MC and 4 others
•
Alesta Therapeutics Raises €65M in Series A FundingFinSMEs•Jan 08, 2025•Droia Ventures, Alesta Therapeutics, Frazier Life Sciences, Novartis Venture Fund and 4 others
•
•
Pan Cancer T secures €4.25 Million in Seed Extension Round to advance next-generation T cell therapiesBenzinga•Jul 11, 2024•Pan Cancer T, InnovationQuarter, Van Herk Groep, Thuja Capital and 3 others
•
Tacalyx extends seed funding round to raise over €14mPharmaceutical Technology•Jun 11, 2024•Tacalyx, Thuja Capital, Boehringer Ingelheim Venture Fund, Kurma Partners and 5 others
•
Dutch-based Artica Therapeutics bags €12M to help patients suffering from autoimmune and inflammatory disordersSilicon Canals•Nov 03, 2023•Artica Therapeutics, Thuja Capital, Seroba Lifesciences, InnovationQuarter and 1 other
•
Gradient Denervation Technologies Closes €14 Million Series A RoundMedical Product Outsourcing•Nov 02, 2023•Gradient Denervation Technologies, Asabys Partners, Thuja Capital, Sofinnova Partners
•
Gradient Denervation Technologies closes a €14M series A round led by Sabadell AsabysEl Referente•Sep 19, 2023•Gradient Denervation Technologies, Asabys Partners, Thuja Capital, Sofinnova Investments and 1 other
•
