We launched Exceptional Ventures Fund 1 in 2022, which is now fully deployed across a portfolio of 41 innovative startups across the UK, EU and US. These businesses represent the very best of the emerging founders and innovation across the health sector, touching on key ESG areas. With early performance looking truly Exceptional, we are already driving real change for many thousands of people, and we are excited to deliver our twin goals of Exceptional Impact and Return.

Building on this strong early performance, in September 2025 we launched EV Fund 2 with a £50M target. The fund is backed by leading institutional investors, including the British Business Bank, and three of Europe’s largest banking foundations: Compagnia di San Paolo (our anchor LP), Fondazione Cariplo, and Fondazione CRC.

EV Fund 2 has a refined investment focus, with its three themes being:

• Prevention

• Early Detection & Risk Assessment

• Smarter Treatment & Care Delivery
  
  

The fund has already invested in 12 companies, and will build a portfolio of 50 to 60 over the next three years, continuing our mission to maximise Joyspan®.

HealthTech has, as we expected, grown into one of the largest and most attractive investment sectors globally. As the sector grows, our mission, our values, our expertise and our team continue to distinguish us, and attract the best founders building the most exciting companies in the sector.

Sadly, as the sector grows, so does the hype and misinformation. We see more charlatans, and more celebrities launching health companies with unproven products that lack scientific rigour. We remain focused on our mission of increasing Joyspan®: backing the best founders and science-based innovation, educating the public, and working with policymakers to ensure the health revolution delivers the best possible outcomes for as many people as possible.