Newfund closes €60M HEKA fund — first European VC fund dedicated exclusively to BrainTech
Summary
Paris-based Newfund closed its €60M HEKA fund — the first European venture capital fund dedicated exclusively to BrainTech — after starting at €20M in June 2023 and growing over three years. HEKA's strategy is to invest in European neuroscience startups and bridge them to US markets via FDA approval and American commercialization. The fund has reviewed 900+ BrainTech companies, met 550+ entrepreneurs, and built a nine-company portfolio with 8 of 9 companies already operating in the US. Three portfolio companies joined Stanford StartX. HEKA is classified as an Article 9 SFDR impact fund targeting brain health SDG goals. Newfund data: $4.2B raised in BrainTech in 2025 globally, with $2.8B already raised in Q1 2026 — 256% growth year-over-year.
Why it matters
Europe's first dedicated BrainTech VC fund closing at €60M addresses a critical gap: European neuroscience research is world-class but historically loses commercial value to the US. HEKA's bridging strategy — EU investment plus US commercialization infrastructure including Palo Alto office and FDA pathway expertise — is the right model for translating Europe's neuroscience depth into commercial success.
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