Nordic life science VC fund Eir Ventures holds first close on EUR76m

Biopharma

Nordic life science venture fund Eir Ventures has held a first close of its new fund, that will be focusing on healthcare innovation, on EUR76 million.

Eir Ventures will invest in companies with products and technologies addressing unmet medical needs and a potential to improve the life of patients. “In the current environment, where financing has become even more sparse and startups are struggling to fund development, healthcare innovation is more important than ever,” said Dr Magnus Persson, managing partner of Eir Ventures.

The fund is backed by Swedish and Danish institutions such as Saminvest, a VC company founded by the Swedish Government, Vækstfonden (the Danish state’s investment fund), Novo Holdings, and the European Investment Fund. It was set up by a team of life science investors: Dr Magnus Persson, Stephan Christgau and Andreas Segerros as managing partners, while Amanda Hayward is a special partner.

Based out of Stockholm and Copenhagen, Eir Ventures will invest in high return potential opportunities in the Nordics, Europe and the US. The fund will have a particular focus on innovations from leading universities and incubators in the Nordics and has established collaborations with certain Nordic Universities.

“The Nordic region is ranked year after year as one of the most innovative areas in Europe, with a stable business environment and a successful track record of medical innovation and world-class science, said Stephan Christgau, managing partner of Eir Ventures. “However, the region is severely underserved with professional venture capital. Eir Ventures sees this as a unique opportunity that it will leverage,” he added.

According to Simon Kollerup, Danish Minister for Industry, Business and Financial affairs, the Covid-19 pandemic has been an illustration that healthcare is a global issue, and that there is a need for new treatments and therapies.

“Hence, it is essential that we invest in emerging companies that develop new treatments from Danish and Nordic University innovation and life science entrepreneurs in the region,” he added.