Naarden, The Netherlands, 8 December 2011 - Forbion Capital Partners today announced the first and final closing of its second FCF 1 Co-Investment Fund at approximately $50m.
The fund aims to invest additional capital, alongside its existing funds, in several late stage FCF 1 portfolio companies that are close to an exit. Forbion’s first FCF 1 Co-Investment Fund of €54m closed in September 2010, and has made six investments to date, two of which have already been sold, repaying the entire fund up to two times. These exits include Biovex, sold to Amgen in January 2011 for up to $1bn and Pathway Medical, sold in September 2011 to Bayer MedRad for $125m. In both companies, Forbion was the largest investor.
Based on these successes and the promise of further high quality assets in FCF 1, its limited partners (LPs) have now committed to Forbion’s FCF 1 Co-Investment Fund II.
Commenting on the new fund, Sander Slootweg, Managing Partner at Forbion said, “We raised this second FCF 1 Co-Investment Fund in just a few weeks in difficult markets, reflecting the strong support Forbion enjoys from its current investor base, which includes many of the blue chip names active in the life sciences space.
Our experience is that investors like to put more capital behind the earmarked winners in our portfolio. As a result of our LPs being convinced of the exit potential of the respective FCF 1 portfolio companies, the Fund has ended up oversubscribed.”
“This response goes to show that excellent managers and high quality companies can still attract capital in these turbulent times,” added Bart Bergstein, Managing Partner at Forbion. “Today, Forbion is widely recognized as a strong brand in the Life Sciences investment space that has been able to consistently generate returns for its investors.”
The new FCF 1 Co-Investment Fund has already made its first investment in Circulite, Inc., announced earlier last week. Martien van Osch, Managing Partner at Forbion responsible for the Circulite investment said that having access to this additional pool of capital allowed Forbion to strongly support Circulite in this significant funding round.
For further information please contact
Forbion Capital Partners
College Hill Life Sciences (on behalf of Forbion)
Melanie Toyne Sewell / Anastasios Koutsos
+44 20 7866 7856
About Forbion Capital Partners
Forbion Capital Partners is a dedicated Life Sciences venture capital firm with offices in Naarden, The Netherlands, and Munich, Germany. Forbion invests in life sciences companies in drug discovery & development as well as medical device companies addressing substantial unmet medical needs. Forbion’s investment team of nine investment professionals has built an impressive performance track record since the late nineties with successful investments in Rhein Biotech, Crucell, Neutec, Glycart, Borean, Impella, Alantos, Acorda, Fovea, PanGenetics, Argenta Discovery and most recently Biovex and Pathway Medical. Current assets under management exceed $550M, split between four active funds and comprising some 28 promising portfolio companies. Forbion Capital Partners Fund II is supported by the European Investment Fund through its ERP and LfA facilities. Forbion co-manages Biogeneration Ventures, an early stage fund focused on (academic) spin-outs and seed investments in the Netherlands. For more information, please visit www.forbion.com.