Newfund is a Paris-based venture capital firm that launched HEKA, a dedicated €60 million fund focused exclusively on braintech — the convergence of neuroscience, digital health, and artificial intelligence applied to the brain and mind. HEKA was announced in late 2024 and positions Newfund as one of the few European funds with a thesis built entirely around brain health innovation. The fund operates in partnership with the FondaMental Foundation, one of Europe's leading research networks in psychiatry and neuroscience.
HEKA invests in early-stage companies developing technologies at the intersection of neuroscience, AI, and medicine. This includes digital therapeutics for neurological and psychiatric conditions, AI-powered diagnostic tools for brain disease, neural implants, and computational neuroscience platforms. The fund targets companies addressing conditions such as stroke, depression, Alzheimer's, Parkinson's, epilepsy, and mental health disorders. HEKA is classified as an Article 9 fund under the EU's SFDR, meaning every investment must demonstrate a measurable positive impact on human health.
HEKA is Newfund's dedicated braintech vehicle, closed at €60 million. The fund targets approximately 25 portfolio companies across Europe and internationally, with a focus on early-stage investments in companies developing scientific or technological solutions to neurological and psychiatric conditions.
The fund benefits from Newfund's broader network and operational infrastructure while maintaining a distinct investment mandate centered on impact. Its Article 9 SFDR classification requires rigorous impact measurement and reporting for every investment.
Leadership
Anne-Sophie Saint-Martin leads HEKA as the fund's primary Partner, bringing a background in neuroscience and deep health investment. François Véron is the Managing Partner of Newfund overall and plays a strategic role across the firm's funds. Henri Deshays is a General Partner based in Palo Alto, supporting Newfund's US presence and transatlantic deal flow.
Investment Strategy
HEKA leads or co-leads early-stage investment rounds, with check sizes aligned with pre-seed and seed stages in the European health-tech context. The fund seeks companies with scientifically validated approaches, clinical evidence, or proprietary datasets related to brain health. Given its Article 9 mandate, Newfund requires portfolio companies to define, track, and report measurable health outcomes. The team works closely with founders on regulatory strategy, clinical trial design, and building relationships with research institutions and hospital networks across Europe.
Notable Investments
HEKA's portfolio spans diagnostics, digital therapeutics, and AI-powered neurology tools:
Other
Newfund's partnership with the FondaMental Foundation gives HEKA portfolio companies access to one of Europe's most prominent research networks in psychiatry and neuroscience, including clinical collaborators across France and beyond. Founders working on neurology, psychiatry, or brain health applications with a scientific foundation and a clear path to clinical validation will find Newfund particularly well positioned to support both the scientific and commercial dimensions of their work.
François Véron - Managing Partner
Anne-Sophie Saint-Martin - Partner, HEKA
Henri Deshays - General Partner
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