Forbion, a Naarden, The Netherlands, Munich, Germany-based life sciences venture capital firm, held the first €470 million (USD 500 million) close of its Forbion Growth Opportunities Fund I.
The fund has attracted several new institutional investors, including pension funds PME and PMT, the Ewing Marion Kauffman Foundation and Reggeborgh, who join returning investors Pantheon, Wealth Management Partners and Eli Lilly and Company.
Forbion expects to reach its €600 million hard cap, completing the raising of Forbion Growth Opportunities Fund II over the summer.
The second Forbion Growth Opportunities Fund will continue to invest in mostly European, later-stage biopharma companies, developing novel therapies for areas of high medical need. The fund will target this market segment with three proven strategies, providing:
- private growth capital for mature clinical development-stage assets,
- pre-IPO funding to companies pursuing a public listing in the near-term, and
- capital and hands-on capabilities to under-valued public companies.
In these financings, Forbion Growth Opportunities II aims to take leading positions with investment sizes of up to €70 million per deal. The team’s goal is to build a portfolio of 15 such investments in the most promising late-stage European life sciences companies.
Forbion manages well over EUR 2 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. Its current team consists of over 30 life sciences investment professionals that have built an impressive performance track record since the late nineties with investments in 87 companies.