Sofinnova Partners, a Paris, France-based European venture capital firm specialized in Life Sciences, closed its latest fund, at €300m, above the initial fund target of €250m.
Sofinnova Capital VIII 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 North American investors in the US and Canada.
The fund will invest in the healthcare industry and more specifically in the biopharmaceutical and medical device sectors seeking to act as a founding and lead investor in startups and corporate spinoffs.
Sofinnova Capital VIII will invest about two thirds of its funds in European companies, and one third outside of Europe primarily in North America.
Led by Antoine Papiernik and Rafaèle Tordjman, Sofinnova Partners has backed nearly 500 companies over more than 40 years. Following the raise of its previous fund at €240m in 2012, the firm has €1.5 billion ($1.6 Bn) in total amount under management.