Healthcare is undergoing a fundamental transformation, shifting from reactive sick care to proactive health management, with consumers increasingly directing their own health journeys. While the US market has seen the rise of consumer-centric healthcare champions like Hims/Hers, Headspace, and Function Health, Europe's market remains underserved. Today, naturalX Health Ventures announced a €100 million fund to accelerate this revolution in Europe, becoming the first specialized fund focused exclusively on the intersection of consumer and health in the European market.
The fund will primarily target Series A investments while maintaining flexibility to participate in late Seed and Series B rounds. Initial investments typically range from €3 to 5 million, with up to €10 million available per company. naturalX can serve as either lead investor or co-investor, focusing on consumer health startups across Europe with selected investments in North America.
naturalX was founded by Marvin Amberg, a German serial entrepreneur with experience launching consumer and health startups, in cooperation with Schwabe Group, a global leader in plant-based pharmaceuticals. The fund defines consumer health as the intersection of wellness and medicine, where science-backed products and services prioritize the consumer. During its 18-month preparatory phase, naturalX has already made several investments, including mybacs, Flow Neuroscience, Kyan Health, and Meela, while also investing in healthcare-focused VC funds to build a robust ecosystem around their investment thesis.
"I am very excited to double down on our thesis with the official launch of naturalX. The consumer health space has been overlooked by investors. We see an inflection point in Europe now, as consumers are finally taking more charge of their own health. Startups in the space need a partner with a shared vision," said Marvin Amberg, founder of naturalX Health Ventures.
The fund's launch comes at a pivotal moment in consumer health. The COVID-19 pandemic has accelerated consumers' focus on proactive health management, while rising health literacy—driven by influential figures like Andrew Huberman, Peter Attia, and Bryan Johnson—has created more informed healthcare consumers who increasingly view health as a status symbol. Improved access to data through technology, including AI, is further driving the shift toward consumer-centric healthcare.
naturalX targets solutions across proactive health, including sleep, gut health, prevention, and longevity. The fund also places special emphasis on mental health, recognizing the growing need for consumer-centric therapeutic solutions in this underserved area. The investment strategy bridges Schwabe Group's deep pharmaceutical expertise with modern digital health innovation.
"We analyzed the U.S. health market and found that in many successful startups, the consumer is already at the center. Our thesis is that this is just the beginning, and the European market will develop in a similar pattern. While we start to see some examples of consumer-focused healthcare companies in Europe reaching meaningful scale and significant funding, such as Oura or Neko Health, we believe this market deserves more attention," added Marvin Amberg.
"naturalX led our Series-A round and has been an exceptional partner, bringing not only capital but also invaluable knowledge of the nutritional supplement and broader consumer health market," said Carl-Philipp von Polheim, Founder of mybacs, a leading DTC probiotic subscription startup. "Their pragmatic, fast decision-making allows us to focus on growing our business."
"At Kyan Health, we are dedicated to proactive mental health management—empowering individuals before issues escalate," said Vlad Gheorghiu, Founder of Kyan Health, a leading mental health platform for employees. "naturalX shares this vision, recognizing that prevention is key to lasting impact. Their deep expertise and strategic approach make them an ideal partner in driving meaningful change for millions."
Following the recent closing, the fund is now fully operational and actively building its cross-European investment team.
