Sofinnova Partners, a European life sciences venture firm, has closed its inaugural digital medicine fund at $200 million.
The firm did not disclose the names of LPs in the fund. Investors in its most recent flagship fund, Sofinnova Capital X, which closed on €472 million in October 2021, include Italian pension Cassa Forense, UAE investment firm Crescent Enterprises, the European Investment Fund and French investment firm Parvilla Investissements, according to affiliate title Private Equity International (subscription required).
Sofinnova Digital Medicine I targets enabling technologies, analytics and treatment.
“In just a few months since launching this strategy, we’ve executed five investments into transformative companies, including Kiro, BioCorteX, deepc, L’école AI, and Betteromics, which are fusing state-of-the-art computational methods with advanced biological innovations,” partner Edward Kliphuis said in a statement. He leads the new fund with partner Simon Turner.
Sofinnova chairman and managing partner Antoine Papiernik said the new fund closed “above its target size,” but he did not reveal the target amount. “This newest fund in our platform of investment strategies is a testament to the trust our limited partners place in our vision and to Sofinnova’s longstanding commitment to shaping the future of healthcare,” Papiernik said.
Based in Paris, London and Milan, Sofinnova Partners focuses on healthcare and sustainability. The firm, which was founded in 1972, has more than €2.5 billion under management.