Bitspiration Launches Biotech Fund Targeting €50 Million and Up to 25 Investments

Bitspiration VC has launched Bitspiration Biotech III, a biotechnology fund targeting €50 million and up to 25 investments. It plans to back companies developing drug-discovery technologies, therapeutic and diagnostic platforms, synthetic biology and advanced biomaterials, with its first portfolio companies to be announced this autumn.

By the CEO editorial team. English adaptation of the Polish article, originally published on 9 November 2026.

Pictured, from left: Dr Sebastian Soluch and Andrzej Targosz, partners in the fund.

The fund’s investors include Marcin Żukowski, co-founder of Snowflake, and Tomasz Onyszko, co-founder of Predica and chief technology officer of Morning Brew. Dr Sebastian Soluch has joined Bitspiration VC as a general partner and one of the leaders of the new fund, bringing more than 20 years of experience in pharmaceuticals, biotechnology and medical technology.

Investments of €250,000 to €4 million

Bitspiration Biotech III, also known as BB III, will invest primarily at pre-seed and seed stage, with selected Series A investments. It plans investments of €250,000 to €4 million and initial equity stakes of 2% to 15%.

The planned allocation is 30% of capital for initial investments and 40% for follow-on funding of portfolio companies. The remaining 30% is intended as a reserve for later-stage start-ups offering the prospect of a faster return on invested capital. The first investments are due to be announced in the current quarter, this autumn.

As with Bitspiration’s earlier funds, BB III will combine investment with hands-on support in building companies. Alongside capital, the team will help with technology validation, strategy, regulatory planning, recruitment, the selection of experts and partners, and market entry.

Bitspiration says that support is intended to improve decision-making, overcome obstacles and shorten the path from scientific discovery to a viable business. It cites the experience of portfolio companies including FibriTech, IS-Wireless, Secfense and Proteine Resources as evidence of the approach’s value.

Seeking technologies with multiple commercial applications

The launch comes as biotechnology assumes a growing role in Europe’s economy. According to the European Commission, the EU biotechnology sector grew more than twice as fast as the overall EU economy over the past decade. Europe nevertheless continues to face difficulties turning research into products and businesses capable of international expansion.

Those challenges are identified in the European life sciences strategy, whose implementation is supported by more than €10 billion annually from the current EU budget.

Bitspiration’s team believes advances in artificial intelligence have accelerated knowledge transfer and improved conditions for biotechnology development and investment. AI is expanding the scope of data analysis and drug-candidate design, while synthetic biology enables biological processes to be designed for specific applications. The fund will focus on technologies that can serve as platforms for multiple products or uses.

“In biotechnology, a project’s value depends both on the quality of its research and technology and on the ability to turn them into a solution that meets a specific market need,” said Soluch, a Bitspiration VC general partner and manager of Bitspiration Biotech III. “Technology development needs to be linked to a regulatory strategy, a commercialisation model and a financing plan from an early stage.”

“We are looking for innovative companies with proprietary technology on which they can build a scalable business. Our role will be to help them navigate the difficult path from research results and initial validation to partnerships and international market entry.”

The fund’s selection criteria will include intellectual property, the durability of a company’s technological advantage, a credible regulatory pathway, market size and its strategy for reaching customers. It will also assess whether founders with scientific backgrounds are willing to develop the skills needed to run a business.

Biotech commercialisation and investment experience

Soluch has more than two decades of senior-level experience in pharmaceuticals, biotechnology and medical technology. His work covers global product launches, pricing and reimbursement strategies, health technology assessment and health economics.

He has built and led international market-access teams in the United States, Canada and the EMEA region — Europe, the Middle East and Africa. His experience also includes participation in Novartis’s acquisition of Advanced Accelerator Applications and Menarini Group’s acquisition of Stemline.

Fellow managing partner Andrzej Targosz brings more than 20 years of entrepreneurial experience, including building and selling his own start-up, as well as years of work as a business angel and venture capital investor. His focus at the fund is supporting founders as they develop innovative businesses.

Earlier portfolio reports a 2.16 times value multiple

The biotech fund draws on experience from Bitspiration’s two earlier investment vehicles, which backed deep-technology businesses at an early stage. Their investments included Nomagic, Airly, IS-Wireless, Secfense and FibriTech. Portfolio companies later raised funding from international investors including Khosla Ventures, DN Capital, Firstminute Capital and Giant Ventures.

Bitspiration’s earlier, still-active fund, ASI BB2, has made 13 direct and 28 indirect investments. It reports a total value to paid-in capital ratio, or TVPI, of 2.16 times, reflecting the portfolio’s total value relative to paid-in capital and its increase in value since the team’s involvement.

“In our previous fund, we invested in teams developing complex technologies, often long before they gained wider market recognition,” Targosz, a general partner at Bitspiration VC, said. “We invested in three of the nine Polish projects that received support from the prestigious European EIC Accelerator programme before they attracted broader attention and recognition.”

“That points to good project selection. We are taking those positive experiences into the new fund and adding Sebastian’s biotechnology and commercialisation expertise. We want to invest where our knowledge, contacts and day-to-day work with a company can materially accelerate its development.”