Sofinnova Partners Closes Sofinnova Crossover Fund
European life sciences venture capital firm Sofinnova Partners has held the final close of the Sofinnova Crossover Fund at €445mn ($540mn USD). The fund will maintain its focus on European clinical-stage companies needing scale-up capital and will also support best-in-class companies in the US and elsewhere. The fund has, to date, invested in 10 companies.
Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, commented:
“European biopharma and medtech companies have matured tremendously in the last decade. Sofinnova Partners was the first European VC to seize the opportunity to unlock the potential of these high-growth start-ups by providing late-stage capital, building on our decades of experience funding innovative life science companies. With over €2 billion of assets under management dedicated to life science investing and an outstanding international team, Sofinnova Partners continues its expansion to partner with ambitious entrepreneurs across Europe, from company creation to late-stage developments.”
Cédric Moreau, Partner in the Sofinnova Crossover Fund, said:
“We are grateful for the continuing support of our existing and new limited partners from all over the world who have helped us reach a target significantly beyond our initial objectives. The Sofinnova Crossover Fund is the largest of its kind in Europe and the only one with a team solely dedicated to growth-stage opportunities in healthcare. There has never been more awareness of the importance of investing in our collective health and future, and we are honored to contribute to this endeavor through this fund strategy.”
Triago acted as placement agent and Clifford Chance acted as legal counsel.
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