European life science venture capital firm Forbion has raised €1.35 billion ($1.5 billion) for its two newest funds, bringing the total funds under management to €3 billion ($3.3 billion). Both funds exceeded initial target sizes and were Forbion’s largest fundraisers to date.
The most recent closing Forbion Ventures Fund VI has achieved a hard cap amount of €750 million ($821 million) and the final closing of Forbion Growth Opportunities Fund II has also secured a hard cap amount of €600 million ($657 million) . The two funds cater to the needs of different market segments.
Forbion Ventures Fund VI is focused on building companies in the early stages of development and Forbion Growth Opportunities Fund II supports the expansion of late-stage life science companies.
Forbion Ventures VI Fund
Forbion Ventures Fund VI will build a portfolio of therapeutic companies including existing biotech and new companies (co-) founded by Forbion, created around assets sourced from pharmaceutical or academic institutions, or around proven management teams. Forbion’s Ventures Fund VI builds on the company’s track record from previous venture funds.
Forbion Ventures Fund VI saw strong re-up rates by existing investors, and at the same time has attracted several new investors including Dutch pension funds PME and PMT, Loyola University of Chicago, Scott Trust Endowment Ltd and Pictet Alternative Advisors.
Forbion II Growth Opportunity Fund
The Forbion II Growth Opportunity Fund builds on Forbion’s first Growth Fund.
The fund is focused on investing primarily in late-stage European biopharma companies developing new therapeutics in areas of high medical need. In this financing, the team is looking to invest up to €70 million ($76.6 million) per deal. The fund has already attracted several new institutional investors, including Amundi and Legal & General Capital, which joined Dutch pension funds PME and PMT, Pantheon and Eli Lilly and Company. The Forbion Growth Opportunities Fund II has made four investments to date.
Sander Slootweg, managing partner and co-founder of Forbion said: “We are very proud of the trust investors have placed in us as evidenced by the €1.35 billion we have raised. This is Forbion’s record and testament to our long track record as a distinguished investor supporting ambitious management teams and successful life sciences companies at various stages of their development.
“Reaching Forbion Growth Opportunities Fund II’s final closure in hard cap highlights the need for continued investment in late-stage European life sciences companies, a market segment that remains underserved. Additionally, the successful final closure of our Forbion Ventures VI Fund demonstrates continued investor interest in our specialist investment strategy and the opportunities we see for superior returns in development stage life science companies.”