European life sciences venture capital firm Forbion has raised €1.35 billion ($1.5 billion) for its two newest funds, bringing the total of funds under management to €3 billion ($3.3 billion). Both funds exceeded the original target sizes and represent Forbion’s largest fundraising to date.
The final close of the Forbion Ventures Fund VI has reached the hard cap amount of €750 million ($821 million) and the final close of the Forbion Growth Opportunities Fund II has also been secured at the hard cap amount of €600 million ($657 million). The two funds meet 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.
Forbion Ventures Fund VI
The 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. Forbion’s Ventures Fund VI builds on the firm’s track record from previous ventures funds.
Forbion Ventures Fund VI 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
The Forbion Growth Opportunities Fund II builds on Forbion’s first Growth Fund.
The fund is focused on investing primarily in European later-stage biopharma companies developing novel therapies in areas of high medical need. In these financings, the team is looking to investment up to €70 million ($76.6 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.
Sander Slootweg, managing partner and co-founder of Forbion said: “We are extremely proud of the confidence investors have placed in us as evidenced by the €1.35 billion that we have raised. This is a record for Forbion and a testament to our long track record as a leading investor that supports ambitious management teams and successful life sciences companies across different stages of their development.
“Achieving the final close of the Forbion Growth Opportunities Fund II at the hard cap highlights the continuing need for investment in late-stage European life sciences companies, a market segment that remains underserved. Furthermore, the successful final close of our Forbion Ventures VI Fund demonstrates continued investor appetite for our specialist investment strategy and the opportunities we see for superior returns in development-stage life sciences companies.”