Vesalius Biocapital, a Luxembourg-based life sciences venture capital investor, has announced the first closing of its fourth fund, Vesalius Biocapital IV, securing commitments of over €95 million ($103.7 million).
The fund has attracted investors including the European Investment Fund (EIF). Starting soon Vesalius Biocapital IV will invest in the first and best-in-class European life sciences company in drug development and digital health. The goal is to build a portfolio of 10 to 15 companies.
Now in its 16th year, Vesalius Biocapital says it has a successful track record of supporting innovative companies and has raised more than €270 million ($294.8 million) for its three previous funds. It has completed more than 30 investments in lead or co-lead positions and achieved multiple exits through trade sales and IPOs. These include: Forendo, acquired by Organon; Sword Health, sold to a group of private equity investors; Apitope, acquired by Chinese company Worg Pharma; and Ogeda, acquired by Astellas Pharma.
Stéphane Verdood, managing partner at Vesalius Biocapital IV, said: “Our successful track record puts us in a strong position to attract high quality investors such as EIF to Vesalius Biocapital IV. Additionally, it is a great validation of our investment approach and strategy that a large number of investors in our fund previously supported us at Vesalius Biocapital IV. This is an exciting time in healthcare; the industry is at a major inflection point between science, technology and medicine, and our investors support our strategy to invest in companies that develop first-in-class innovative products and technologies.”
Marjut Falkstedt, chief executive officer at the European Investment Fund, added: “The development of new therapeutics and digital health solutions is revolutionizing the healthcare sector, but this innovation requires targeted and dedicated investment. EIF is pleased to partner with Vesalius for its fourth funding, building on a strong track record in the sector, which also aims to channel investment into underserved areas of the innovation landscape, particularly in southern Europe.”
Vesalius Biocapital IV is targeting €150 million ($163.7 million) and will accept new investors on a “rolling closure” basis until final closing in 2024.