AMSTERDAM – Life Sciences Partners, the Amsterdam-based provider of seed- and early-stage venture capital in the biotechnology, medical devices and e-health sectors has launched Life Science Partners II, a E135 million ($126.3 million) fund.
Life Science Partners II is a follow-on investment vehicle from Life Sciences Partners I, which was launched at the end of 1998 and from which 12 investments have been made to date.
The fund will target investments primarily in Europe, but will also consider opportunities in the U.S. and Israel.
Investors in the new fund include financial institutions and major corporations. Several of the organizations partnered with Life Science Partners in prior venture funds such as Residentie Investments BV, a subsidiary of Achmea.
New investors include ING Investment Management, Parcom, DSM, SNS Reaal and the European Investment Fund (EIF). EIF has signed an agreement to commit up to E15 million ($14 million). This represents 11% of the total target amount.
The company’s investment model generates an attractive deal flow by maintaining a strong presence in the Benelux countries, where active centers of research in technology are underserved by the VC industry.
Partners across the rest of Europe, the U.S. and Israel scout opportunities in entrepreneurial ventures, regional academic research centers, national laboratories, and corporations where Life Sciences Partners has no direct presence.
“We are pleased with the confidence Fund II investors have shown in our ability to continue executing our model of early-stage technology by investing in a new venture fund,” said Martijn Kleijwegt, Life Sciences Partners co-founder and managing partner.
Recent successes from the company’s portfolio include Rhein Biotech, a producer and marketer of recombinant vaccines; Sequenom, a developer of technology for use in the field of industrial genomics; and Qiagen, which enables technologies and products for the separation and purification of nucleic acids.
Total capital under management has reached E170 million ($159.1 million), making Life Sciences Partners one of the largest specialized health-care investors in Europe.