Boehringer Ingelheim has increased funding for its corporate venture capital fund, from €100m to €250m.
The additional funds of the Boehringer Ingelheim Venture Fund (BIVF) will be used to invest in promising early stage startups, focusing on regenerative medicine, infectious diseases and immune oncology among others, as well as growing the portfolio in the U.S. and opening doors for the BIVF in digital health.
This additional funding goes along with a doubling of the number of investment managers in the US.
Led by Frank Kalkbrenner, M.D., Corporate Vice President and Head of the BIVF, the fund actively works to spin-out and create companies from academia, developing projects over a five to seven year time period with initial investments in seed or series A funding. Staged investments start with €0.5-3m and can amount to up to €10-15m in funding.
This expansion builds on the BIVF’s existing portfolio of 21 biotech and early stage startups focused on various therapeutic areas of interest, including immune-oncology.