Innovation Capital, a Paris, France-based investment firm, held the first closing of its latest fund at €40m.
The fund, which has a final target of €100m, will primarily invest in European-based companies providing innovative healthcare services or solutions.
The firm backs both early stage and later stage companies with strong growth prospects by investing up to €5M in an initial round and up to €10m over several rounds of financing.
It can act as lead or co-lead investor, take an active part on the board of directors and be sole investor or part of an international syndicate of investors.
Innovation Capital also has a presence in Palo Alto, CA.