Sofinnova Partners closes fifth fund at €385 million

February 7, 2005

2 Min Read

PARIS -- - Sofinnova Partners, a Paris-based European venture capital firmdedicated to start-up and early-stage investing in life sciences and informationtechnology in France and other European countries, announces the close of SofinnovaCapital V at €385 million ($500 million). The fund was launched in September 2004 witha target size of €350 million and a self-imposed cap of 10% above the targeted fund size.Sofinnova Capital V is the successor fund to Sofinnova Capital IV, which closed at€330 million in March 2001.

Investors in Sofinnova Capital V include AlpInvest Partners, BP Pension Fund, CDCEntreprise, European Investment Fund, CPR PE (Crédit Agricole Group), HarbourVestPartners LLC, a government fund from Asia, JPMorgan Fleming Asset Management, LGTCapital Partners, Partners Group and The Wellcome Trust.Founded in 1972, Sofinnova Partners was the first venture capital firm in France and hasconsistently taken a leading position in the emergence and growth of private equityfinancing in Europe. The current fund will continue to build on the successful strategy ofSofinnova’s predecessor funds, which consists of the early identification of new trendsand breakthrough technologies. It will focus on ambitious projects led by teams with thepotential to become European or world leaders. Sofinnova pays special attention toprojects originating in university labs or research centers, and to spin-offs from majorcorporations.

Jean-Bernard Schmidt, a Managing Partner and Chairman, commented, “We are pleasedwith the renewed support of our existing investors and the commitment of the new ones.Together they represent a high quality and geographically diversified group. The rapidpace at which we have raised our fifth fund is a good indication of investors’ confidencein our strategy, as well as a positive sign for the European venture capital industry. Webelieve that European technology and European venture capital have a bright futuregoing forward.”

Sofinnova Ventures Inc.

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