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SHS Capital

Europe, Baden-Wurttemberg, Germany, Tübingen

Description

SHS Capital is a well-established independent private equity firm based in Tübingen, Germany, with a specialized focus on the MedTech and Life Sciences sectors. Founded in 1993, the firm has built a significant track record over three decades, primarily investing in growth equity opportunities within the German-speaking regions of Germany, Switzerland, and Austria. SHS Capital targets companies with revenues typically ranging from EUR 5 million to EUR 150 million, seeking to provide capital for expansion financing, shareholder changes, and succession solutions.

The firm's investment strategy is centered on identifying innovative and high-growth companies within its niche, leveraging its deep industry expertise to support their development. SHS Capital is known for its long-term investment horizon and active partnership approach with portfolio companies, aiming to foster sustainable growth and market leadership. A key indicator of their capacity is their recently closed SHS VI fund, which secured EUR 200 million in commitments in 2022, following the successful SHS V fund that raised EUR 130 million in 2018. These substantial funds underscore their continued commitment and ability to deploy significant capital into promising ventures.

SHS Capital typically provides substantial first cheques, with individual investments ranging from EUR 10 million to EUR 50 million per company. This significant check size positions them as a key player for mid-to-late-stage growth financing in the European MedTech and Life Sciences landscape. Their consistent focus on a specialized sector, combined with a robust capital base and a history spanning over 30 years, allows them to offer not just financial backing but also strategic guidance and access to a broad network within the healthcare industry. The firm's disciplined approach and sector-specific expertise make them a notable partner for companies seeking to scale and innovate in these critical fields.

Investor Profile

SHS Capital has backed more than 39 startups, with 3 new investments in the last 12 months alone. The firm has led 21 rounds, about 54% of its total and boasts 6 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series Unknown, Series B, Series C rounds (top funding stages).
  • Majority of deals are located in Germany, Switzerland, Belgium.
  • Strong thematic focus on Health Care, Medical Device, Manufacturing.
  • Led 1 rounds in the past year.
  • Typical check size: $10.8M – $54M.

Stage Focus

  • Series Unknown (51%)
  • Series B (15%)
  • Series C (13%)
  • Series A (10%)
  • Seed (5%)
  • Series D (3%)
  • Private Equity (3%)

Country Focus

  • Germany (46%)
  • Switzerland (18%)
  • Belgium (10%)
  • The Netherlands (8%)
  • France (5%)
  • Austria (5%)
  • Finland (3%)
  • Norway (3%)
  • Slovenia (3%)

Industry Focus

  • Health Care
  • Medical Device
  • Manufacturing
  • Medical
  • Biotechnology
  • Health Diagnostics
  • Pharmaceutical
  • Therapeutics
  • Personal Health
  • Emergency Medicine
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does SHS Capital frequently co-invest with?

BioMedPartners
Europe, Basel-Stadt, Switzerland, Basel
Co-Investments: 3
KfW
Europe, Hessen, Germany, Frankfurt
Co-Investments: 7
Dolby Family Ventures
North America, California, United States, San Francisco
Co-Investments: 2
Earlybird Venture Capital
Europe, Berlin, Germany, Berlin
Co-Investments: 4
IB
Europe, Sachsen-Anhalt, Germany, Magdeburg-rothensee
Co-Investments: 2
BayBG Venture Capital
Europe, Bayern, Germany, München
Co-Investments: 2
BOM
Europe, Noord-Brabant, The Netherlands, Tilburg
Co-Investments: 2
Delta Partners
Europe, Dublin, Ireland, Leopardstown
Co-Investments: 4
Bayern Kapital
Europe, Bayern, Germany, Landshut
Co-Investments: 4
UVC Partners
Europe, Bayern, Germany, Garching
Co-Investments: 4

Which angels does SHS Capital often collaborate with?

SR
Europe, Berlin, Germany, Berlin
Shared Deals: 1

What are some of recent deals done by SHS Capital?

Salvia BioElectronics

Eindhoven, Noord-Brabant, The Netherlands

Salvia BioElectronics develops neuromodulation devices for migraine treatment and management.

BiotechnologyMedical DeviceTherapeutics
Series BMay 27, 2025
Amount Raised: $60,425,647
ROTOP

Dresden, Sachsen, Germany

ROTOP is a manufacturer of radiopharmaceutical diagnostics and therapy.

ManufacturingMedicalPharmaceuticalProject Management
Private EquityJan 15, 2025
Develco Pharma Schweiz

Pratteln, Basel-Landschaft, Switzerland

Develco Pharma Schweiz is pharmaceutical manufacturing company produce formulations of drugs, health care, medicine.

BiotechnologyManufacturingMarket ResearchMedicalPharmaceutical
Series UnknownOct 7, 2024
Amount Raised: $10,974,298
MESI Medical

Ljubljana, Ljubljana Urban Commune, Slovenia

Maker of MESI mTABLET, predictive medical assessment platform for healthcare with extensive AI and marketplace capabilities.

Artificial Intelligence (AI)Health CareHealth DiagnosticsMedicalMedical Device
Series UnknownJun 22, 2023
Amount Raised: $19,719,933
Simulands

Zürich, Zurich, Switzerland

Simulands improve patient outcomes through simulation-based medical training.

Health CareMedical Device
SeedMar 2, 2023
Amount Raised: $10,598,598
Dr.Dropin

Oslo, Oslo, Norway

Dr.Dropin an accessible and modern private health service that offers the vast majority of medical services at a fixed price.

Health CareHospitalMedical
Series UnknownApr 22, 2022
Amount Raised: $20,710,455
PathoQuest

Paris, Ile-de-France, France

PathoQuest is a biotech company developing NGS-based metagenomic tests for exhaustive identification of pathogens.

BiotechnologyHealth CareTherapeutics
Series BNov 9, 2021
Amount Raised: $17,391,748
Incision

Amsterdam, Noord-Holland, The Netherlands

Incision is a platform for surgical performance and online training.

E-LearningEducationHealth Care
Series AMay 24, 2021
Amount Raised: $6,107,243
Salvia BioElectronics

Eindhoven, Noord-Brabant, The Netherlands

Salvia is an innovative start-up active in the emerging field of BioElectronics.

BiotechnologyMedical DeviceTherapeutics
Series ASep 22, 2020
Amount Raised: $31,000,000
Neuro Event Labs

Tampere, Western Finland, Finland

SaaS. Helping doctors by assisting to diagnose epilepsy through video monitoring with the help of machine intelligence

AnalyticsArtificial Intelligence (AI)Health CareInformation TechnologyMedicalSoftware
Series AApr 9, 2020
Amount Raised: $4,260,186