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Fund profile / Spain

Nina Capital (III)

Geography
Spain
Stage
Pre-Seed
Fund size
€50M
Focus
Digital Health
Signals
Published
Share
N°01 / About

About Nina Capital (III)

Nina Capital (III) is a venture capital firm based in Spain, focusing on Pre-Seed stage investments. The fund actively supports founders building innovative solutions in Digital Health, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionSpain
Funding StagePre-Seed
Industry Focus
Digital Health

Investor Signals Profile

active

Sweet Spot

Clinical outcomes + workflow moat; SaMD; regulatory compounding strategy

clinical AI
proprietary clinical data
regulatory moats
workflow embedded AI
pharma decision tools
real clinical outcomes vs AI hype
voice biomarkers
diagnostic signals from behavior
SaMD strategy
medtech software competitive advantage

Bullish Signals

Active hiring in US portfolioexternal
12,838 LinkedIn followers (grew 1,135 since last)linkedin
Portfolio bet on clinical AI simulationlinkedin
Backing pre-trial pharma decision toolslinkedin
Digital patient simulation before trialslinkedin
Targets trial design + indication strategylinkedin
Backs tools avoiding expensive trial dead endslinkedin
Portfolio targets pharma portfolio decisions earlylinkedin
Focuses on clinical workflow + regulatory compoundingexternal
Identifies proprietary data as moat vs lab infrastructureexternal
Marta Zanchi: frontier labs shift AI vulnerability landscapelinkedin
Explicitly contrarian on wet lab infrastructure durabilitylinkedin
Consensus forming around proprietary data + workflow moatslinkedin
Nina reposting: health tech solving real clinical problems undervaluedlinkedin
87.5% VC dollars chasing AI megadeals; clinical founders competeexternal
Capital inefficiency: genuine clinical outcomes overlooked vs AI labelsexternal
Hosting voice biomarker + diagnostics founder night SF Sep 18linkedin
Partner with Entrepreneurs First on clinical signals explorationlinkedin
Sebastian speaking LSI Europe Barcelona Sep 29 SaMD strategylinkedin
SaMD as medtech competitive advantage not just build/buylinkedin

Contrarian Signals

Novel therapy prediction still unprovenlinkedin
Wet lab infrastructure trade becoming crowdedexternal
Automated foundries commoditizing lab capacityexternal
Lab moat less durable than investor consensuslinkedin
Remote experimentation eroding physical lab barrierslinkedin
AI Series D+: 6.6x valuations; non-AI: 1.6xexternal
2021-22 startups trading 54-59% discount without AI labelexternal

Founder Do's

Build proprietary clinical data advantages
Own workflow position in development pipeline
Embed in messy human-mediated processes
Target regulatory + market access layers
Compound clearances over time
Focus on real clinical outcomes; not AI label
Explore non-traditional biomarkers (voice, behavior, signals)
Position SaMD as strategic competitive moat for medtech

Founder Don'ts

Standalone AI tools without proprietary data
Bet on wet lab infrastructure as moat
Rely on scientific reasoning alone
Lead with 'AI company' positioning; prove clinical impact

43 signals on Nina Capital (III)

20 bullish · 7 contrarian · 8 pitch do's · 4 don'ts · 4 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€50M
Saves0
Website
LinkedIn
People

Key People

Marta Zanchi

Marta G. ZanchiPartner
Kyle SherrillPartner
Sebastian AnastassiouPartner
NinaFounder/Organizer
N°04 / See also

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