Thena Capital has closed its debut fund at £45m ($60.4m), targeting early-stage UK medical technology companies. The London-based firm is notable for being the first all-female GP team to receive backing from the British Business Bank's Enterprise Capital Funds programme. The fund plans to back around 25 companies with seed cheques of £500k–£1m, with a focus on digital health and medical devices, and a strategy to help portfolio companies scale into the US. Five portfolio companies are already active, including Plexāā, which has launched in the US with Mayo Clinic on its cap table. The raise highlights the persistent funding gap for female-led teams and health startups outside the AI mega-round frenzy.
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