WHAT

SETS

US APART

European HealthTech is not short of innovation. It is short of funds structurally capable of turning that innovation into investable, acquirable assets.


Most venture capital firms lack the regulatory depth, clinical infrastructure, and market expertise to operate effectively in regulated health — meaning they either avoid the space entirely or enter too late, at higher valuations, with lower ownership.


ARETI Europe is built differently. Our integrated platform combines venture capital discipline, an embedded venture studio, and the full execution infrastructure of Evnia Group, one of Europe’s leading regulatory, clinical and quality control, medical writing, and due diligence science organizations.

 

This means we don’t just identify promising companies; we actively de-risk them, accelerate their development milestones, and prepare them for acquisition.

 

For investors, this translates into earlier liquidity, controlled downside, and superior risk-adjusted returns in a sector where execution expertise is the scarcest and most valuable asset of all.

Our Fund Model

ARETI Europe is a closed-end corporate venture capital fund targeting €100 million, with a nine-year fund life and a five-year active investment period.


The fund deploys capital across a portfolio of 45 to 50 HealthTech, MedTech and BioTech companies, with initial tickets ranging from €250,000 to €2 million and total exposure per company of €3 to €4 million, including follow-on reserves.


Approximately 40% of the fund is reserved for follow-on investments in the strongest performers.


The portfolio operates across two parallel tracks: 30 to 35 externally sourced venture capital deals, and 10 to 15 companies originated and built in-house through the embedded venture studio, where ARETI Europe typically holds 20 to 30% ownership versus 8 to 12% in external deals.


Management fees are set at a specific percentage per annum during the investment period, then step down to typical fees post-investment.


Carried interest is structured on a European whole-fund waterfall basis, meaning carry is only distributed after all LP capital and the agreed preferred return have been fully returned. GP commitment stands at a typical rate of total fund size, ensuring full alignment between the management team and our investors.


Return Logic

ARETI’s return model is engineered for consistency, not dependent on outlier outcomes.


We concentrate performance at three systematically mispriced inflection points (regulatory feasibility, clinical evidence credibility, and commercial readiness) where the market undervalues progress, and acquirers place a premium.

 

By entering at these moments and actively driving companies through them, we capture valuation step-ups that generalist funds neither identify nor execute.


Our target outcomes are a Total Value to Paid In (TVPI) of 2.5 to 3.5 times and an IRR of 12 to 18%, generated through multiple parallel exit routes: strategic acquisitions, pre-revenue asset sales, licensing and IP monetization, studio-originated exits with high ownership, and PE roll-up and platform consolidation plays.


The fund is explicitly not unicorn-dependent. One breakout outcome further improves returns, but the model is designed to perform without it.


Studio deals alone are expected to contribute 30 to 40% of total fund TVPI, driven by earlier entry, higher ownership and lower failure rates than externally sourced investments.


As regulatory and clinical barriers across European health markets continue to rise, execution platforms like ARETI Europe become progressively more valuable, making this
a model that strengthens, not weakens, as the market evolves.


Reporting

ARETI Europe operates with institutional-grade transparency across the full fund lifecycle.


Limited Partners receive quarterly reports covering portfolio performance, milestone progress, & capital deployment updates.


Annual audited financial statements are produced in line with AIFMD-aligned governance standards. Portfolio-level KPI and valuation updates are provided consistently, giving investors a clear, up-to-date picture of how individual companies are progressing against their regulatory, clinical, and commercial milestones.


Where relevant for public or institutional LPs, ESG and territorial impact reporting is also provided, covering environmental risk screening, social and governance standards within portfolio companies, and the broader contribution of ARETI’s deployment activity to European health innovation ecosystems.


Our commitment is not just to returns; it is to the kind of structured, auditable, relationship-driven reporting that institutional investors require and that long-term partnerships are built on.