ArchiMed, a Lyon, France-based healthcare private equity investment firm, has held the first close of a new mid-market buy-and-build fund.
MED Platform I has received major commitments from European and North American institutional investors and family offices totaling more than half its target, after launching fundraising at the end of the second quarter of this year. The final target of the fund is €800m.
The fund focuses on the European mid-cap healthcare sector and invests between €50m and €300m in platform companies. MED Platform I is ArchiMed’s third fund and the group’s first investment vehicle to focus on healthcare’s mid-cap sector, or companies with enterprise values of at least €100m.
The new fund complements the group’s MED I and MED II vehicles, which respectively raised €146m in 2014 and €315m in 2017. MED I and MED II focus on smaller European healthcare companies, investing in firms with enterprise values of less than €100m.
Founded in 2014, ArchiMed invests in all healthcare sectors, including Medtech, Biopharma, and Care Services.