Sofinnova Partners, a Paris, France-based venture capital firm focused on life sciences, closed its latest early-stage healthcare fund, Sofinnova Capital IX, at €333m.
The new fund has commitments from leading institutional investors, predominantly endowment funds, insurance companies, pension funds, sovereign funds, corporates and family offices. The majority of commitments came in from Europe, including France, Italy, Ireland, Denmark, Germany, Switzerland, the United Kingdom and Luxembourg, but also from leading North American investors in the U.S. and Canada, as well as major investors from Asia.
Sofinnova Capital IX 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 startups and corporate spinoffs, and focus on therapeutic, paradigm-shifting technologies and products alongside visionary entrepreneurs.
Sofinnova Capital IX 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, Managing Partner and Chairman, the firm now has more than €2 billion under management, with more than €1 billion raised in the last four years across its platform of life sciences funds.
The launch of Sofinnova Capital IX follows the formation, in just the last three years, of:
– Sofinnova Crossover I, a fund investing in pre- and post-IPO companies;
– Sofinnova MD Start III, a medical device acceleration fund;
– Sofinnova Industrial Biotech I, a fund dedicated to industrial biotech; and
– Sofinnova Telethon Fund I, a fund dedicated to seed investments in gene and cell therapies based out of Milan, Italy.
The firm is based in Paris, London and Milan.