The European life science venture fund Sofinnova Partners has just closed a new bio- and medtech investment fund totalling 650 million euro. EIFO is investing 20 million euro, with the expectation of a focus on Danish startups.
EIFO is among the investors who have jointly contributed 650 million euro to the well-managed Paris-based life science venture capital fund Sofinnova Partners’ latest fund, Sofinnova Capital XI.
The new fund aims to support a new generation of groundbreaking bio- and medtech companies addressing urgent and previously unmet clinical needs.
Like other fund investments from EIFO, this investment is made with the intention of attracting further capital to the Danish ecosystem.
“Life science is one of the strategic focus areas for investments at EIFO, and Sofinnova Partners is one of the leading European life science venture funds. There is a significant lack of capital for early-stage life science investments, and by investing in Sofinnova Capital XI, EIFO is supporting an important European and Danish agenda, whilst of course also expecting to generate an attractive financial return,” says Christoph Junge, Head of Fund Investments at EIFO.
“Sofinnova is a longstanding partner for EIFO, and with one of their key partners based in Denmark, we expect that our involvement will also attract investments in Danish startups,” continues Christoph Junge, drawing attention to Managing Partner at Sofinnova Partners, Henrijette Richter, who was part of the founding team behind Novo Seeds and has already, on behalf of Sofinnova Partners, invested in several Danish life science startups.
This includes, among others, Muna Therapeutics and Freya Biosciences.
There is a significant lack of capital for early-stage life science investments, and by investing in Sofinnova Capital XI, EIFO is supporting an important European and Danish agenda
Danish life science has Sofinnovas attention
According to Henrijette Richter, Managing Partner at Sofinnova Partners, the Danish ecosystem is attractive:
“At Sofinnova Partners, we are committed to the entire European life science ecosystem, but especially the Danish one, which is innovative and ambitious and constantly offers new exciting founders and startups with groundbreaking new technology. We look at them with great interest. Our ongoing investments and partnerships in Denmark reflect our belief in the Danish ecosystem’s ability to attract global attention, but above all, to help shape the future of healthcare in Europe,” says Henrijette Richter.
Sofinnova Capital XI will invest 70 percent of the fund in early-stage European startups, while 30 percent may be allocated to American startups.
Our ongoing investments and partnerships in Denmark reflect our belief in the Danish ecosystem’s ability to attract global attention, but above all, to help shape the future of healthcare in Europe
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. 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 manages over 4 billion euro in assets.
For more information, please visit: sofinnovapartners.com
