CPE News (10/17/2019) – Sofinnova Partners has closed its latest and oversubscribed early-stage healthcare venture capital fund Sofinnova Capital IX at €333 million.
Sofinnova Partners is a leading European venture capital firm based in Paris, London and Milan. The firm now has more than €2B under management with more than €1B raised in the last four years across its platform of life sciences funds.
The majority of commitments for fund IX came in from Europe, including France, Italy, Ireland, Denmark, Germany, Switzerland, the United Kingdom and Luxembourg, but also from leading North American investors in the U.S. and Canada, as well as major investors from Asia.
Sofinnova Capital IX will allocate about two-thirds of its funds in European companies, and one-third outside of Europe, primarily in North America.
photo credit: Sofinnova
SOFINNOVA PARTNERS RAISES €333 MILLION CAPITAL IX EARLY-STAGE HEALTHCARE FUND
The firm manages €2B across its life sciences platform, €1B of which has been raised in the last 4 years
Paris, France – October 17th, 2019 — Sofinnova Partners, a leading European venture capital firm based in Paris, London and Milan and specialized in Life Sciences, announced today the close of its latest early-stage healthcare venture capital fund Sofinnova Capital IX, oversubscribed at €333 million. The firm now has more than €2B under management with more than €1B raised in the last four years across its platform of life sciences funds.
Pursuing the strategy it has consistently applied over the years for its flagship early-stage Capital funds, Sofinnova Capital IX will invest in the healthcare industry and more specifically in the biopharmaceutical and medical device sectors. Sofinnova Partners will seek to invest as a founding and lead investor in start-ups and corporate spin-offs, and focus on therapeutic, paradigm-shifting technologies and products alongside visionary entrepreneurs. Sofinnova Capital IX will invest about two thirds of its funds in European companies, and one third outside of Europe, primarily in North America.
The new fund has commitments from leading institutional investors, predominantly endowment funds, insurance companies, pension funds, sovereign funds, corporates and family offices, many of whom are continuing a long and successful relationship with the Sofinnova family of Funds. The majority of commitments came in from Europe, including France, Italy, Ireland, Denmark, Germany, Switzerland, the United Kingdom and Luxembourg, but also from leading North American investors in the U.S. and Canada, as well as major investors from Asia.
Antoine Papiernik, Managing Partner and Chairman of Sofinnova Partners, said, “Our experienced team, stable strategy and exit track record resonated well with investors, hence the success of our fundraising for this latest Capital fund. Over the last three years, we have completed nine remarkable exits in the portfolio for a total enterprise value of almost 4 billion euros.”
The launch of Sofinnova Capital IX follows the formation, in just the last three years, of Sofinnova Crossover I, a fund investing in pre- and post-IPO companies; Sofinnova MD Start III, a medical device acceleration fund; Sofinnova Industrial Biotech I, a fund dedicated to industrial biotech; and Sofinnova Telethon Fund I, a fund dedicated to seed investments in gene and cell therapies based out of Milan, Italy. With these focused franchises managed by dedicated specialist teams, Sofinnova Partners has established a unique and comprehensive platform of investment vehicles across the life sciences investment value chain.
Triago acted as placement agent and Clifford Chance acted as legal counsel on Sofinnova Capital IX.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Headquartered in Paris, France, with offices in London and Milan, the firm brings together a team of 40 professionals from all over Europe, the U.S. and Asia. The firm focuses on paradigm-shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early-stage opportunities to late-stage/public companies. It has backed nearly 500 companies over more than 45 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management.
For more information, please visit: www.sofinnovapartners.com
+33 6 03 35 92 05