TVM Capital Life Science, a Munich, Germany and Montrwal, Canada-based life sciences venture capital firm, closed its latest fund, at US$478m.
Committed capital was raised from high profile international investors, including Eli Lilly and Company, other strategic investors, pension funds, endowments, foundations, fund-of-funds, wealth managers and large US banks as well as multi and single family offices from the Americas, Europe and South Korea.
TVM Life Science Innovation II (TVM LSI II) will maintain the firm’s focus on investing in assets that provide a visible exit strategy from the outset with the goal of maximizing returns and providing early and significant liquidity for its investors. About 50-60% of the fund’s capital is intended to be invested in “Project Focused Companies”, which are majority-owned by the fund and set up for the development of early-stage drug candidates in a capital and time efficient manner.
The remaining capital will be invested in late clinical stage biopharmaceutical companies as well as commercial stage medical device and diagnostic companies.
The geographical focus for the Fund’s investment activity is on North-America and Europe. The vehicle already sold its first investment in February 2020.
The firm is led by Managing Partners Dr. Luc Marengere and Stefan Fischer, Dr. Hubert Birner (based in Munich) and Dr. Sascha Berger (promoted to Partner). In the past few months, the investment team was complemented with the addition of Alexandra MacLean, MD and Alain Thibault, MD as Principals and, Dr. Valentina Agostina, Catello Somma and Philipp Lechner as Associates.