Novo Ventures, the ventures arm of Novo Holdings, has participated in the oversubscribed fourth BioGeneration Ventures (BGV) fund, BGV IV, which has closed at EUR140 million (USD170 million). As one of the most active biotech investors in US and Europe, Novo Ventures’ investment strategy is to identify and invest in life science companies developing innovative products with the potential to significantly advance patient care. This investment in BGV IV Fund enhances Novo Ventures’ reach into BGV’s home market, the Benelux, which is fast becoming one of the leading and most productive life sciences regions in Europe.
BGV, which is based in The Netherlands, aims to build new companies in Europe around either single asset or technology platforms, with the goal of creating transformational new medicines and also creating significant returns for its LPs. The BGV IV fund follows the same successful investment strategy as the firm’s three prior funds and the team has already made four new investments from BGV IV.
Naveed Siddiqi, Senior Partner at Novo Ventures, says: “Europe continues to be at the forefront of both life science innovation and investment, and Novo Ventures is proud to be one of the most active direct investors in European life sciences. This investment enables us to better access the high-quality science being discovered and developed particularly in the Benelux region, and it is a continuation of our strategy to selectively enhance our reach in life science hotspots around the world through collaborative relationships. We have been impressed with BGV’s strong track record in company creation and efforts to promote pioneering science and entrepreneurs. Our international investment team’s long and diverse experience and deep capital pool enables us to support companies through to key value inflection points. We are excited to have close access into this ecosystem and look forward to working alongside BGV’s talented team in backing the next generation of entrepreneurs and innovation.”
Edward van Wezel, BGV’s Managing Partner, adds: “We are very pleased to welcome Novo Holdings as an investor to our new fund. As one of the largest investors in life sciences globally, the Novo Ventures team shares our passion and focus to support world-class science and management teams. Progressing early-stage projects from discovery to clinical proof-of-concept requires a breadth of experience that founding teams often do not have from the outset. This is where the BGV team’s collective experience is a key differentiator, with their extensive network and experience spanning investment, life sciences, business development and commercial operations. With this closing at EUR140 million, we are well positioned to support our portfolio companies with both increased financial capacity and our strong, expanding international network.”
