Action Potential Venture Capital is a corporate venture capital fund founded by GlaxoSmithKline (GSK) in 2013 and headquartered in Cambridge, Massachusetts. It is one of the most explicitly neurotech-focused institutional investors globally, with an exclusive mandate to invest in bioelectronic medicines and enabling technologies.

APVC backs startups that regulate neural or cellular activity to treat chronic diseases, with particular emphasis on peripheral neuromodulation medical devices. The fund has made over 30 investments and has produced notable exits including CVRx and Saluda Medical (IPO 2025).

Portfolio companies include Cala Health (non-invasive neuromodulation for essential tremor), SetPoint Medical (implantable neuromodulation for inflammatory disease), NeuSpera Medical (minimally invasive neuromodulation for overactive bladder), and Alpheus Medical (oncology neuromodulation). APVC takes active board positions and provides hands-on strategic support. Its co-investment network frequently includes J&J Innovation, Nexus NeuroTech, and Treo Ventures.