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SOFINNOVA-PARTNERS

19.10.2021 07:02:07 CEST | Business Wire | Press release

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Sofinnova Partners Raises €472 ($548) Million to Form Largest Early-Stage Healthcare VC Fund in Europe

Sofinnova Partners , a leading European life sciences venture capital firm based in Paris, London and Milan, announced today the close of its latest early-stage healthcare venture capital fund, Sofinnova Capital X, oversubscribed at €472 ($548) million. This brings the total amount the VC has raised to €1 billion in the last 12 months across its multi-fund platform, and the total AUM to over €2.5 billion. Capital X, the 10th iteration of Sofinnova Partners’ flagship fund, is the largest healthcare fund dedicated to early-stage investments and company creation in Europe.

Sofinnova Capital X will invest in the most promising biopharmaceutical and medical device start-ups that address pressing unmet clinical needs and aim to transform patients’ lives. In keeping with the current strategy, the team will source and create value across a portfolio of groundbreaking innovations in healthcare, supporting entrepreneurs globally in the creation and growth of their companies.

Capital X was successfully raised with institutional investors including pension funds, insurance companies, foundations, endowments, corporate investors, and prominent family offices from across Europe, Asia, and North America. The Fund welcomed back existing investors and attracted new blue chip limited partners, reflecting sustained confidence in the firm’s capacity to generate strong financial returns.

Antoine Papiernik, Managing Partner and Chairman of Sofinnova Partners , said: “The close of Capital X, significantly oversubscribed and raised in record time, comes at a pivotal moment as the importance of healthcare innovation has become exceedingly clear to all. The fact we have been able to raise €1 billion across our platform over the past 12 months is a tribute to our investors and their conviction in our ability to bolster our leading position in Europe.”

Henrijette Richter, Managing Partner of Sofinnova Partners , said: “We are thrilled to have raised the largest fund dedicated to early-stage healthcare investments in Europe. This is an important milestone for Sofinnova Partners. Capital X will allow us to leverage over 30 years of cumulative experience perfecting this strategy. We now have more capital than ever to support leading entrepreneurs as they launch new companies to develop groundbreaking therapies that have the potential to change peoples’ lives.”

Clifford Chance acted as legal counsel and Triago as placement agent.

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.

Founded in 1972, Sofinnova Partners is a deeply-established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: www.sofinnovapartners.com

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