Sofinnova Partners Raises a $324 Million Biotech Startup Fund
Published: Dec 09, 2015
Sofinnova Partners, a leading European venture capital firm specialized in Life Sciences, announced today the close of Sofinnova Capital VIII at €300 million, above the initial fund target of €250 million. Following the raise of its previous fund at €240m in 2012, this new fund brings the total amount under management at Sofinnova Partners to €1.5 billion ($1.6 Bn).
Pursuing the strategy it has consistently applied over the years, Sofinnova Capital VIII 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 VIII will invest about two thirds of its funds in European companies, and one third outside of Europe primarily in North America. This fund will leverage Sofinnova Partners’ experienced international team. Based in Paris, the firm brings together 12 highly experienced investment professionals from all over Europe, the US and China.
This new fund attracted premier international investors, predominantly pension funds, funds of funds, family offices and insurance companies. Commitments came in majority from Europe, including France, Italy, Sweden, Norway, Switzerland, Belgium and Luxembourg, but also from leading North American investors in the US and Canada.
Antoine Papiernik, Managing Partner at Sofinnova Partners, said, “Our experienced team, stable strategy and exit track record resonated well with investors, hence the success and speed of our fundraising for this fund. Over the last three years, we completed 10 remarkable exits in the portfolio for a total enterprise value of almost 3 billion euros.”
Rafaèle Tordjman, Managing Partner at Sofinnova Partners, added: “We are honored by our investors’ support, which will allow us to transform entrepreneurs’ vision into successful businesses, and help bring life saving innovations to the medical community and patients.”
Triago acted as placement agent and Clifford Chance LLP acted as legal counsel on Sofinnova Capital VIII.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together 12 highly experienced investment professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a founding and lead investor in start-ups and corporate spin-offs, and has backed nearly 500 companies over more than 40 years, creating market leaders around the globe. Today, Sofinnova Partners has over €1.5 billion under management.
For more information, please visit: www.sofinnova.fr
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Anne Rein, +33 (0)6 03 35 92 05