Sofinnova Partners (Sofinnova), a European life sciences venture capital firm based in Paris, London, and Milan, has closed its latest flagship fund, Sofinnova Capital XI, at €650m ($750m).
Total capital raised across Sofinnova’s platform reaches €1.5bn over the past year. Sofinnova Capital XI will back biopharmaceutical and medical technology companies addressing unmet clinical needs.
Sofinnova Capital XI attracted support from institutional investors including pharmaceutical companies and other corporates, as well as insurance companies, foundations, and family offices.
Commitments came from across Europe, North America, Asia, and the Middle East, with a majority of returning LPs and a number of new investors. The fund surpassed its original target.
Investments have already been made in a few portfolio companies, with the fund continuing to support early-stage biotech and medtech ventures across Europe and North America, participating in both initial and follow-on rounds.
