Montana Children’s Health INNVIERTE, FESE, the first European venture capital fund specialised in paediatric health, has completed its first close with €37M committed — well above the initial target set at the start of the process. Demand exceeded expectations, reflecting the growing interest from the investment ecosystem in a paediatric innovation-focused investment thesis, which, surprisingly, did not previously have a dedicated vehicle in Europe. The fund’s new target size is set at €50M, and Montana will remain open to new investors until early 2027.
The fund is managed by Ship2B Ventures and is supported institutionally by EIF, CDTI (through SICC Innvierte), ICF, and Banco Sabadell. It invests in technology-based companies emerging directly from academic and hospital research, with an exclusive focus on innovations that improve the health of children and adolescents.
The opportunity: a high-growth, underdeveloped market
Currently, only 1.6% of venture capital in healthcare is allocated to paediatrics, despite children representing 20–25% of the global population. The global paediatric healthcare market exceeds $15B annually and is projected to reach $32B by 2034 — representing a major opportunity for a first specialised healthcare fund to invest in leading innovations and generate attractive returns for its investors.
Paediatric innovation has historically been driven largely by philanthropy and public funding: there is an extraordinary concentration of projects in leading paediatric hospitals and research centres waiting to reach the market. There is currently no shortage of investment opportunities, but rather a lack of a dedicated vehicle for investing in paediatric health startups. Montana was created precisely to fill this gap and professionalise impact-driven, non-philanthropic investment in child health.
At the same time, the healthcare system is shifting from a reactive model focused on adult disease to a preventive model in which early-life intervention is essential. This significantly increases demand for paediatric innovation in the coming years. In addition, multiple non-dilutive funding programmes in paediatric health and a key regulatory advantage further support the sector: solutions with a paediatric first indication benefit from accelerated approval pathways and, once validated, can scale into the adult market, significantly increasing their return potential.
Measurable impact and profitability go hand in hand here.
The fund plans to invest in at least 15 companies over its lifetime, with the goal of making its first 3 investments by the end of 2026 — facilitating access to market for new solutions that will impact millions of children across Europe and beyond.
“Montana operates, invests, and is a necessary piece in building the European paediatric health ecosystem. Today’s children are tomorrow’s adults: many of the chronic problems we seek to address in adulthood originate in childhood, when early intervention can still make a real difference. Acting then is not only more effective; it is fairer. At Montana we combine scientific rigour, real impact metrics, and the conviction that impact and returns are not opposing goals, but two sides of well-executed investment.” Marc Ramis Castelltort, Managing Partner, Montana / Ship2B Ventures
“At Ship2B Ventures we have been building the impact investment ecosystem in Spain for years. Montana is the natural next step: a fund that combines our investment expertise with a clear thesis, a unique team, and the backing of Europe’s most relevant institutional investors. We are very proud of what we have built together and excited about what comes next.” Maite Fibla, Co-founder & Managing Partner, Ship2B Ventures
About Montana
Montana is the first European technology transfer fund specialised in paediatric health. Managed by Ship2B Ventures, it invests in companies emerging from academic and hospital research with the potential to transform paediatric care on a global scale. It is headquartered at Vía Augusta 9, Barcelona, and operates from Pier 07 at Tech Barcelona.
More information at https://montvc.com/
About Ship2B Ventures
Ship2B Ventures is an impact investment fund manager based in Barcelona, a pioneer in Spain in integrating social and environmental impact criteria into startup investing. With over a decade of experience, it manages several specialised funds and supports entrepreneurs seeking to transform key sectors such as healthcare, education, and social inclusion
