Bio-infrastructure

Investing in ‘bio-infrastructure’ – where deep-tech, healthcare and AI meet

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We are entering an era where living to 100 could become the new norm. In 1950, there were just 14,000 centenarians compared to almost 750,000 today, projected to reach nearly 4 million by 2054.[1] By the middle of the century, there will be 2 billion people over the age of 60.[2]

Ada portcos

Medical breakthroughs, from gene therapies and mRNA vaccines to AI-powered drug discovery and clinical trial design, could help us eradicate diseases entirely. Wearables and devices are getting smaller and sleeker, embedded in everyday consumer products, spotting risks early, and empowering patients and citizens. 

But new therapies and smarter gadgets are not enough to cope with tomorrow’s demographic tsunami. Wearables can’t reach consumers without data and cybersecurity guardrails built-in. Promising drug targets could go unfunded if clinical trials are too costly, especially for diseases with smaller patient populations and markets. Rapid diagnostics are little use if patients with suspected cancer take weeks to get a first appointment. Too many frontier innovations are confined to private clinics for the wealthy. And clinical research continues to under-provision for minority racial and ethnic groups and women.

The Reason?

We’re relying on infrastructure designed for another century, where healthcare was episodic and reactive and few people lived to see their 70th birthday. It’s like developing AI-powered digital twins of Victorian era pipes.

We need a new infrastructure that enables the interplay of data, tooling, physical equipment and health services. Think of predictive AI that can optimise clinical trial design by matching drugs to the right patient cohorts, based on gender, race or genetics. Research and development (R&D) notebooks allowing technicians to record and share experimental data to collaborate seamlessly. Cloud platforms that let scientists run experiments without their own physical labs. Verification platforms to make it simple for healthcare workers to be safely and securely onboarded to meet patient demand spikes.

We call this space ‘bio-infrastructure’, and it sits at the intersection of healthcare, deep-tech, infrastructure and artificial intelligence. And this is not just about software and data but atoms too; the labs, clinics, servers, and factories that will underpin a long and healthy life for all.

Coining an investment thesis can give shape and sense to what might otherwise look like fragmented events or opportunities. The BRICS acronym, for instance, reframed global investing, and generated a wave of subsequent country groupings that provided nuance to the homogenous ‘emerging markets’. ‘FAANG’ captured the outsized impact of a small cluster of Big Tech companies and how they were shaping the economy as a whole. Web3 framed a new generation of digital businesses emphasising user control and ownership in virtual spaces.

Bio-infrastructure is an investment category in its own right

Startups in this space are solving complex problems that lurk in the bowels of the healthcare system. These companies don’t fit the traditional categories investors are accustomed to; they are neither purely drug developers nor conventional software business. But their solutions are, collectively, producing a layer of intelligence that will power the health system of tomorrow, from drug discovery to the care economy.

Think of AlphaFold, the protein structure prediction tool developed by Google DeepMind and the European Molecular Biology Laboratory. This platform, which won its lead developers the Nobel prize in chemistry in 2024, is more than an asset or piece of software; it’s an engine of discovery for the life sciences. It has already powered the first AI-designed drugs going into clinical trials.

Lab Automation, Bio-Manufacturing, Patient Data, Reg-tech, Talent + Workforce.

Bio-infrastructure is not just an opportunity for companies, but for nations themselves to build sovereign advantage, nurturing domestic biotech capabilities, leveraging national health data assets to drive discovery and invention, and delivering personalised healthcare for a healthy ageing population.

In every technological shift, there's a moment when the "picks and shovels"—the tools, platforms and services that make everything else possible—become investable in their own right. The companies we invest in now won’t just power better care — they’ll define how care is delivered for generations.  This market map shares just some of the startups that are part of this emerging bio-infrastructure wave across five pillars:

Lab Automation

Turbocharging lab productivity through agentic AI and advanced automation, tooling that generates deeper datasets for drug discovery, including companies doing the entire drug discovery process with their own tools, and architectures that allow seamless data exchange across lab instruments. We see opportunities in:

  • Advanced microscopy, high-throughput sequencers with AI for quality control and error detection, automated liquid handlers, and robotic lab platforms
  • Computational platforms for the design of molecules, protein folding, gene editing, or screening of small molecules for drug discovery
  • Computational infrastructures for managing, integrating, and analysing genomics, transcriptomics, proteomics, and metabolomics data
  • Organoid, organ on a chip and microphysical systems for preclinical and translational work to generate human-relevant or mechanistically rich datasets

The Bet

Labs will become increasingly sophisticated and agentic, helping accelerate R&D and empowering countries with skills and resource shortages to build biotech infrastructure of their own. The next generation of pharma companies could come from this group: companies who start with a technical or process advantage that they use to build their own pipeline of drugs and bring them to market.

Patient data

The clinical trial process is decades behind what today’s software and analytics can do. Predictive analytics can match drug trials to the right cohorts, shorten recruitment and enrollment timelines, and fine-tune supply chains. Eventually, we could see a clinical trial with an ‘n-of-1’ to personalise treatment based on unique genetic, and disease dynamics within the individual. We see opportunity in:

  • Digital tools that integrate with national electronic health records and lab test systems to accelerate clinical trial recruitment
  • Dashboards that support clinical trial design, data-collection and real-time monitoring
  • Platforms that automate regulatory compliance during drug development, to tailor and automate workflows and regulatory submission processes

The Bet

The next blockbuster therapy will come to market because of operational innovation, not just molecular magic.

Bio-Manufacturing

When COVID-19 swept the globe, it laid bare the fragility of global medical supply chains as countries without domestic drug-making capacity faced delays in accessing life-saving treatments. The lesson was clear; strategic autonomy in therapeutics and biotechnology is a national imperative.

Domestic biotechnology capabilities are essential to security, and economic resilience, on par with energy, defense, and food security. And they are accessible to many more countries, thanks to advances in software, cloud and AI. We’re backing:

  • Cloud biology platforms enabling distributed design and centralised oversight of complex biologic production; wet lab experimentation, bio-foundaries, or biological simulation environments
  • Specialised manufacturing capabilities for the scalable production of mRNA, cell and gene therapies, and nucleotides; supply chain infrastructure for biologics to manage sourcing, inventory, forecasting, traceability, and GMP automation
  • Biomanufacturing-as-a-service models giving emerging markets access to turnkey production capacity
  • Bio-banking and sample management services which include cold chain logistics, automated sample handling, digital tracking of biospecimens, and potential to be integrated with omics and EHR data

The Bet

Just as cloud democratised access to compute, bio-manufacturing infrastructure will democratise access to therapeutics.

Reg-tech

Governments want to accelerate healthcare innovation and leverage national healthcare assets to drive innovation, from biobanks to EHRs, and biotech companies need to focus more on discovery and less on paperwork. Rather than viewing regulation as a barrier, we're investing in tools like agentic AI to standardise regulatory filings, and those using APIs to embed privacy, security and consent compliance guardrails into devices and care delivery.

  • Infrastructure that simplifies or automates regulatory burdens (e.g., lab certifications, FDA/EMA submissions, HIPAA/GDPR compliance)
  • API-first companies that embed compliance into care delivery, diagnostics, and digital therapeutics
  • Platforms that bridge public health systems and private innovation with auditability, security and trust

The Bet

The next wave of digital health platforms will win by integrating regulation and compliance so seamlessly it becomes invisible, and unlocking breakthroughs by exploring health datasets securely and safely.

Talent + Workforce

Healthcare doesn’t scale without people, but the way we find, credential, train, and retain workers is broken. Rising demands on the health system from an ageing population require platforms that can bring the speed of the gig economy with the highest standards of onboarding and verification.

  • Credentialling platforms and portable professional profiles for clinicians
  • Blockchain, cloud and verification systems to streamline secure hiring
  • Marketplaces that match healthcare workers with flexible, vetted shifts, and manage payroll and booking
  • AI copilots and workflow tools that reduce cognitive load for nurses, caregivers and therapists
  • Platforms that support clinician mental health and prevent burnout

The Bet

The next billion-dollar workforce platform won’t be for coders — it’ll be for caregivers.

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