Sofinnova Partners, a Paris, France–based venture capital firm specialized in Life Sciences, has launched Sofinnova Crossover I with €275m ($340m).
This new fund received support from sovereign funds, insurance companies, corporations and family offices from Europe, including France, Italy, Denmark, Ireland, and Switzerland, and in Asia, in China and Singapore. In addition to Bpifrance and CNP Assurances, investors include a major Chinese biopharmaceutical company, the Danish State Investment fund, and family offices like Fidim or KCK representing industrial families in Europe and Asia.
With this new fund, Sofinnova Partners plans to execute its growth plan, aimed at expanding its coverage across the Life Sciences space with dedicated sector teams.
Led by Jacques Theurillat, Sofinnova Crossover I will invest in the biopharmaceutical and medical device sectors focusing on about 15 late stage private and public therapeutic companies.
About 80% of the investments will be made in European companies, with the remaining 20% outside of Europe primarily in North America.