Forbion, a European life sciences venture capital firm, has raised €1.35 billion ($1.5 billion) for its two newest funds, bringing the firm’s total funds under management to €3 billion. Both exceeded their original target sizes and represent Forbion’s largest fundraising to date.
Both funds reached their hard caps of €750 million (Forbion Ventures Fund VI) and €600 million (Forbion Growth Opportunities Fund II) and are aimed at meeting the needs of distinct segments of the market.
The Forbion Ventures Fund VI is focused on building companies at an earlier stage of development and the Forbion Growth Opportunities Fund II supports the expansion of late-stage life sciences companies.
According to Forbion, Ventures Fund VI will build a portfolio of therapeutics companies including existing biotechs and new companies (co-)founded by Forbion, created around assets sourced from pharma or academic institutions, or around proven management teams. The fund saw a strong re-up rate by existing investors, and at the same time has attracted several new investors including Dutch pension funds PME and PMT, Loyola University of Chicago, the Scott Trust Endowment Ltd and Pictet Alternative Advisors.
Forbion Growth Opportunities Fund II meanwhile, builds on the strength of Forbion’s first Growth Fund, and is focused on investing primarily in European later-stage biopharma companies developing therapies in areas of high medical need, taking leading positions with investment sizes of up to €70 million per deal. The fund has attracted several new institutional investors, including Amundi and Legal & General Capital which join Dutch pension funds PME and PMT, Pantheon and Eli Lilly and Company. The Forbion Growth Opportunities Fund II has already made four investments to date.
