Own the pathway, not a piece of it
Neuromodulation is split between device makers, imaging centres inside academic institutions, and outpatient clinics treating a narrow band of indications. Avano is structured to hold the whole pathway without concentrating the risk.
Three things nobody else is doing at once
Where a €2.2B fund goes
The fund reaches a minimum viable size of €600M and will oversubscribe to €2.2B. Real estate carries the weight; the technology allocations are what make the buildings worth having.
Investment Criteria
Stage
Pre-seed, seed, Series A, and fund-of-funds
Sector
Healthcare hardware and AI, real estate, insurance
Technology
Brain-computer interface, deep brain stimulation, non-invasive neuromodulation
Average cheque
€1–5M technology, up to €50M real estate
Geography
North America, MENA, Europe, Australia, Singapore, Japan
Deployment period
Five years, twenty target investments
Five allocations, one thesis
Separating asset classes keeps risk contained while the fund integrates vertically across a market that is otherwise split between device makers, imaging centres, and outpatient clinics.
Real Estate
The majority of the fund is deployed into clinical real estate. Across most markets, commercial property remains inexpensive and under-occupied, and its floorplate converts to individual neuromodulation units with minimal renovation.
Bulk purchase and lease of 3-Tesla MRI and stimulation devices drives the cost per site down, which is what makes smaller markets viable rather than merely interesting.
Phased across twenty markets
Facilities open in sequence rather than all at once, so each phase is underwritten by what the previous one proved.
Phase I — 2027
United States, Malta, Canada, Estonia
Phase II — 2029
Kuwait, Oman, Saudi Arabia, Australia
Phase III — 2031
France, Norway, Ethiopia, Japan
Phase IV — 2033
Singapore, Chile, United Kingdom, Nigeria
Phase V — 2035
Mexico, South Africa, Korea, Turkey
Fund II
India, Germany, Brazil
Why Malta
A €35M facility investment, thirty clinical specialists, and a ten-person software engineering team.
Avano will advance the global practice of medicine
We work with limited partners, clinical institutions, and neurotechnology founders building toward the same thing. If that is you, we would like to hear from you.