LSP closes European life sciences fund at USD600m
LSP, a life sciences investor in Europe, has held its final close of LSP 6 at the USD600 million hard cap. This is the largest fund ever raised in Europe focused on life sciences ventures.
LSP currently has USD1.1 billion of capital to invest across LSP 6, the LSP Health Economics Fund and LSP’s public fund and mandates.
LSP 6 will, like its predecessor funds, invest in 15-18, predominantly European private companies developing new medications or medical technologies, who turn cutting-edge scientific innovations into real-world healthcare solutions.
Due to strong investor demand LSP was able to raise USDF600 million, significantly more than the fund’s USD450 million target. The success of the fundraise was mainly driven by LSP’s outstanding 32-year track record. In addition, investors recognised the potential of the large and fast-growing market opportunity in Europe for life sciences companies.
LSP is ideally positioned to capitalise on this growth given its leading role in building European companies. The firm has built over 120 companies, many of which have brought breakthrough new medications or technologies to patients in large indications such as oncology, cardiology or diabetes, but also in rare diseases. LSP’s active portfolio companies are engaged in more than 100 clinical trials, comparable to the pipeline of the largest global pharmaceutical companies.
LSP 6 attracted capital from a diverse investor base including pension funds, insurance companies, wealth managers, government funds and family offices. Most notably, LSP has commitments from Bristol Myers Squibb and Otsuka Pharmaceutical, validating LSP’s pivotal market position.
"We thank our loyal investors for their continued trust in LSP. Our track record, our long standing in the industry, as well as our stable and experienced team of 30 professionals have helped us raise this significant amount. The number of high-quality life sciences innovations in Europe is similar to the United States but there is 5x less capital available to back these innovators and entrepreneurs. With our new fund we can significantly contribute to the growth of our industry and ensure that European innovations get to patients faster," says René Kuijten, Managing Partner of LSP.