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Vesalius Biocapital and IF launch new fund

Vesalius Biocapital, the specialist life sciences venture capital investor, has launched a new Portuguese investment vehicle, Vesalius Biocapital III Portugal, in collaboration with the Portuguese National Promotional Bank or Instituição Financeira de Desenvolvimento (IFD), to invest in Portuguese life science companies.

This unique investment vehicle is a joint effort between the IFD and new fund Vesalius Biocapital III, launched earlier this year and which secured over EUR65 million of commitments in a first closing in May 2017.
 
This is the first joint investment made by the IFD Capital Fund with an international venture fund and is part of its initiative to provide support to small and medium enterprises (SMEs). As the first international partner to the IFD, Vesalius Biocapital III Portugal will be focused on investing in Portuguese healthcare companies and will be working very closely with Biocant, the main biotech incubator in Portugal, to identify investment opportunities and provide growth capital to entrepreneurs.
 
Stéphane Verdood, Managing Partner at Vesalius Biocapital III Portugal, says: “We are very proud to have the support and co-investment from the Portuguese IFD in this new investment vehicle. Portugal has witnessed an exciting period of growth and global interest in its healthcare sector. There is an international recognition of the R&D capabilities and synergistic development in life sciences and technology, which has created opportunities for both entrepreneurs and investors.
 
“We share a common goal with the IFD – to support innovation and provide growth capital to European companies. We look forward to working with them to provide support to companies developing innovative products and technologies to maximise their full potential.”
 
Professor Alberto Castro Chairman at Instituição Financeira De Desenvolvimento (IFD), says:
“The fact that the IFD Capital Fund has attracted Vesalius Biocapital, one of the most important international venture capital investors specialising in life sciences, is a vital achievement and validation of the potential in the Portuguese life sciences market. It confirms Portugal’s healthcare R&D capability to foster new ventures. We are very pleased to be working in partnership with Vesalius Biocapital, fostering cooperation and building reputation, and in the process highlighting Portugal as the place to invest in life sciences. IFD reiterates its commitment to develop the financial instruments needed to fulfil such expectations.”
 
Gaston Matthyssens, Christian Schneider and Stéphane Verdood are on the Board of the Portuguese investment vehicle, and a member of the IFD will have observer status.
 
The new fund, backed by both private and European investment and structural funds, and aligned with the Startup Portugal initiative, will target later-stage Portuguese companies in drug development, medtech, diagnostics and eHealth/mHealth, with the goal of investing in between three to five companies over a period of two years.

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