24 Nov 2025

Osborne Clarke advises naturalX Health Ventures on Series B investment in Function Health

"Osborne Clarke advised naturalX Health Ventures on its investment in Function Health. Function Health has closed an oversubscribed Series B round raising USD 298 million and valuing the company at around USD 2.5 billion. Other investors include Andreessen Horowitz, Redpoint, Battery Ventures, AGLAÉ Ventures, Alumni Ventures and NFDG."

Osborne Clarke advised naturalX Health Ventures, a EUR 100 million venture capital fund focused on consumer health, on its investment in Function Health. Function Health is developing a novel, preventive health model for consumers built on a comprehensive panel of over 160 biomarkers that deliver insights into metabolic, hormonal, cardiovascular and immunological health and enable early identification of risks through a simple test. With its Medical Intelligence Lab, the company has created an AI‑powered platform that integrates laboratory results, imaging, wearables, medical records and global research into a dynamic, personalised health model that learns continuously, detects patterns early and translates them into specific recommendations for action. The company has closed an oversubscribed Series B financing round. The round raised a total of USD 298 million and increases Function Health’s valuation to approximately USD 2.5 billion. Alongside naturalX Health Ventures, investors in the round include Andreessen Horowitz, Redpoint, Battery Ventures, AGLAÉ Ventures, Alumni Ventures and NFDG. naturalX Health Ventures said the investment reflects its belief that consumers are taking ownership of their wellbeing and becoming the CEOs of their own health, and that Function Health is building a proactive, data‑rich, continuously personalised health operating system rather than digitising yesterday’s healthcare model. Osborne Clarke represented client(s) naturalX Health Ventures with a team composed by: Till‑Manuel Saur and Robert Marx (both Corporate/VC).
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