# Lionel Carnot

> Lionel Carnot is a Series B investor at Earlybird Venture Capital backing Health Care. See 6 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Earlybird Venture Capital](https://shizune.co/investors/profile/earlybird-venture-capital)
- Total investments: 6
- Last investment: May 2021
- Lead investor: 50%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/lionel-carnot-8742563

Lionel Carnot is a Series B investor at Earlybird Venture Capital focused on Health Care and Biotechnology. Lionel Carnot - Partner @ Earlybird Venture Capital

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 3 | 50% |
| Biotechnology | 3 | 50% |
| Medical | 2 | 33% |
| Pharmaceutical | 2 | 33% |
| Oncology | 1 | 17% |

6 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 2 | 33% |
| Series C | 2 | 33% |
| Series A | 1 | 17% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Iceland | 1 | 17% |
| Ireland | 1 | 17% |
| The Netherlands | 1 | 17% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Oculis | The Oculis drug delivery platform consists of a novel technique to facilitate drug absorption to both anterior and posterior parts of the eye. The advantage is a drug delivery system where diseases of the posterior part of the eye can be treated with a simple topical application. The Oculis drug delivery platform allows diseases such as DME(diabetic macular edema) at the posterior part of the eye to be treated with a non-invasive topical application. Furthermore, the technique has been demonstrated to allow diseases at the anterior part of the eye to be treated with a reduced number of topical applications compared to conventional eye-drops. | $57M | Series C | May 04, 2021 |  |
| Priothera | Priothera is a clinical-stage company developing orally applied sphingosine 1 phosphate (S1P) receptor modulators for haematological malignancies. We are dedicated to improving the lives of patients suffering from hematological malignancies by delivering an innovative immune modulator to enhance the curative potential of allogeneic HematopoieticStem Cell Transplantation (HSCT) in these patients. | $35.4M | Series A | Oct 12, 2020 |  |
| Oculis | The Oculis drug delivery platform consists of a novel technique to facilitate drug absorption to both anterior and posterior parts of the eye. The advantage is a drug delivery system where diseases of the posterior part of the eye can be treated with a simple topical application. The Oculis drug delivery platform allows diseases such as DME(diabetic macular edema) at the posterior part of the eye to be treated with a non-invasive topical application. Furthermore, the technique has been demonstrated to allow diseases at the anterior part of the eye to be treated with a reduced number of topical applications compared to conventional eye-drops. | $23.3M | Series B | Jan 04, 2018 |  |
| Merus | Merus is a biotechnology company that discovers and develops new treatments for cancer patients. The company utilizes its proprietary Multiclonics Platform technology to advance its clinical pipeline of medicines. Merus conducts scientific research and clinical trials focused on developing novel treatments. | $77.3M | Series C | Apr 26, 2015 |  |
| Merus | Merus is a biotechnology company that discovers and develops new treatments for cancer patients. The company utilizes its proprietary Multiclonics Platform technology to advance its clinical pipeline of medicines. Merus conducts scientific research and clinical trials focused on developing novel treatments. | $32.9M | Series B | Oct 03, 2013 |  |
| Merus | Merus is a biotechnology company that discovers and develops new treatments for cancer patients. The company utilizes its proprietary Multiclonics Platform technology to advance its clinical pipeline of medicines. Merus conducts scientific research and clinical trials focused on developing novel treatments. | $23M | Series B | Jan 29, 2010 |  |

6 of 6 investments shown.

## Co-investors
- [Novartis Venture Fund](https://shizune.co/investors/profile/novartis-venture-fund) — VC Fund, 4 deals together
- [EQT Life Sciences](https://shizune.co/investors/profile/life-sciences-partners) — VC Fund, 3 deals together
- [Tekla Capital Management](https://shizune.co/investors/profile/tekla-capital-management) — VC Fund, 3 deals together
- [Hyfinity Investments](https://shizune.co/investors/profile/hyfinity-investments) — VC Fund, 2 deals together
- [Pfizer Venture Investments](https://shizune.co/investors/profile/pfizer-venture-investments) — VC Fund, 2 deals together
- [Pivotal bioVenture Partners](https://shizune.co/investors/profile/pivotal-bioventure-partners) — VC Fund, 2 deals together

## About Earlybird Venture Capital

VC Fund · Berlin, Germany

Founded in 1997, Earlybird invests in all development and growth phases of technology companies. Among the most experienced venture investors in Europe, Earlybird offers its portfolio companies not only financial resources but also strategic support plus access to an international network and capital markets. With EUR 2 billion under management,eight IPOs and 30 trade sales, Earlybird is one of the most established and active venture capital firms in Europe.

5 contacts available at Earlybird Venture Capital.

| Name | Title | Profile |
| --- | --- | --- |
| Andre Retterath | Principal | https://shizune.co/investors/profile/andre-retterath |
| Annette Schiering | Financial Analyst | https://shizune.co/investors/profile/annette-schiering |
| Catrin Schmidt | Team Assistant | https://shizune.co/investors/profile/catrin-schmidt |
| Cem Sertoglu | Co-Founder and Managing Partner | https://shizune.co/investors/profile/m-cem-sertoglu |
| Christian Nagel | Managing Partner | https://shizune.co/investors/profile/dr-christian-nagel |

## Similar investors

### Similar stage
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund
- [FJ Labs](https://shizune.co/investors/profile/fj-labs) — VC Fund

## FAQ

### What does Lionel Carnot invest in?

Lionel Carnot invests primarily in Health Care, Biotechnology and Medical startups, most often at Series B and Series C stage. Most of the 6 investments tracked by Shizune back companies in Iceland. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Lionel Carnot last invest?

The most recent investment recorded for Lionel Carnot closed in May 2021. Shizune tracks 6 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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