New venture capital firm, Biovance Capital Partners launched
Bionova Capital has started a new venture capital firm, Biovance Capital Partners.
Bionova Capital is a healthcare-focused investor in early-stage life science companies across Europe. Founded in 2015, Bionova Capital actively manages a portfolio of five companies, two in Portugal, two in the UK and one in Spain.
Independent new company wholly owned by his team. The announcement was made at a public session organized by the Portuguese Ministry of Economy and Maritime Affairs, the European Investment Fund (EIF), the European Commission, and national promotion bank Banco Português de Fomento (BPF).
Biovance Capital Partners will seek regulatory approval from the Portuguese Securities Market Commission (CMVM) to manage Biovance Capital Fund I, a new venture capital fund to be established in Portugal. The maximum size of the fund is €60 million and commitments of €35 million have been obtained from EIF, BPF and the European Commission under the PORTUGAL TECH and InvestEU programmes.
Additional commitments include Caixa Capital (the venture capital arm of Caixa Geral de Depósitos, Portugal’s largest bank), and institutional investors in the US and Portugal. The fund plans to invest in early-stage biotech companies across Europe, with a particular focus on Southern Europe, in Seeds and Series A rounds with tickets from €1.5 to 6 million. The funds will be invested in companies developing new transformational therapies for unmet medical needs across all disease areas and drug modalities.
The fund will be managed by a dedicated healthcare team of PhDs and MDs all trained at leading institutions including Harvard Medical School, MIT, and Imperial College, and with a track record in the pharmaceutical and venture capital industries.
“After creating Bionova Capital in 2015, investing in seven innovative healthcare companies, securing a profitable exit, and a second exit that is nearing completion, we are now building this new fund to tap the wealth of breakthrough medical therapies across Europe that are still yet to be discovered. find sufficiency. special venture capital. This new strategy will enable the creation of more biotech companies in Portugal and across Europe,” said Peter Villax, chairman of Bionova Capital and partner at Biovance Capital.
“As internationally trained scientists, we have witnessed the extraordinary quality of biomedical research being produced in Europe, where large public investment has generated a wealth of technology ready for use in new ventures”, said Ricardo Perdigão Henriques, CEO at Bionova Capital and managing partner at Biovance Capital.
“This new fund will offer our investors a unique opportunity to capture value from this highly lucrative and largely untapped market opportunity and provide the capital and expertise to help entrepreneurs turn discoveries into new medicines for patients in need.”
