Novalis Biotech, an early-stage venture capital investor in technologies aimed at revolutionising healthcare, has closed its EUR25 million second fund, the Novalis Biotech Acceleration Fund.
Both new and returning investors have participated in the fundraising. The second fund investor base includes institutional investors, such as Participatie Maatschappij Vlaanderen (PMV), family offices, as well as HNWIs.
The Biotech Acceleration Fund will continue to invest in start-up and scale-up companies that are transforming healthcare through “enabling technologies”. Examples of these technologies are genomics, bioinformatics, drug research or manufacturing tools, diagnostics and personalised medicine. Investments will be split between early-stage incubation projects and later stage acceleration projects. So far, investments have been made in the enabling technologies being developed by Grapheal and RheaVita. Novalis will continue leveraging its strong network in Benelux, and plans to further extend its investments across Western Europe and the US.
Co-founder Wim Van Criekinge says: “Now more than ever there is huge interest in the ability for innovative technology to help provide a response to our growing healthcare needs. We believe the enabling technologies we identify and support early in their development will meet these growing needs.
“Our success from Fund 1 has been rewarded with the commitment from investors to significantly increase the size of the Biotech Acceleration Fund and provide the flexibility for larger individual investments when needed. We’d like to thank our returning and new investors for their support and shared vision,” adds co-founder Jan Van den Berghe.
Kjell Mortier, fund manager of Novalis II, adds: “Our investment strategy creates a unique and growing ecosystem, providing hands-on support and the strong scientific and business foundations needed to enable companies to grow and succeed. We also welcome Jaroslav Belotserkovsky to the team who brings a wealth of experience in life science and innovation, in addition to an expansion of our international footprint.”
Jan Alexander, Head of Fund Investments at PMV, adds: “With their first fund, Novalis has proven that they can create value with their hands-on entrepreneurial style and deep technological knowledge. We are convinced that, with the Novalis Biotech Acceleration Fund, they will continue to support innovation and valorisation of technology in the entrepreneurial ecosystem of the Flemish region.”
Novalis invests early and focuses on capital-light ideas, where small investments can create significant value using software, IP, tools, and other enabling technologies that can transform healthcare. Leveraging extensive networks, Novalis has a proven track record in translating innovation into successful companies.
Novalis Fund 1 was founded in September 2018 and totalled EUR4 million which was deployed into eight companies, mostly in the Benelux region. These include BioLizard, Cergentis, Enzyre, Epify, Fertiga, myNEOand OHMX.bio. A first exit was realised with US portfolio company doc.ai, acquired by Sharecare as part of an IPO.
