BioGeneration Ventures holds €66m close for Fund III

The closing is the third that BioGeneration Ventures has held for BGV III, and enables it to exceed its original target, set at €50m. 

BGV is now targeting €75m, with the GP expecting a final close by the end of 2017.

BioGeneration Ventures operates as a joint venture with Netherlands-based Forbion Capital Partners, and specialises in life sciences venture capital investments, focusing on early-stage European biotechnology, medical technology and diagnostics companies. The firm reports having closed 20 funding rounds over the last 10 years.

Investors
BGV III received commitments from both existing BioGeneration Ventures investors and from new LPs.

The fund received support from the European Investment Bank’s InnovFin, a funding programme created by the European Commission to support and foster research in Europe. The European Investment Fund also contributed to the fundraise, investing from the InnovFin Equity Facility and Dutch Venture Initiative II.

Investments
BGV III will follow a strategy similar to the fund's previous generations, focusing on businesses offering innovation in the fields of therapeutics, medical devices and diagnostics in Europe. Benelux and Germany will be two regions of particular interest, the GP said in a statement.

Four investments have already been made with BGV III, including German immuno-oncology company Catalym, and Dutch companies Escalier Biosciences, Scenic Biotech and Varmx.

Around 15 investments should be completed in total.

People
BioGeneration Ventures – Edward van Wezel (managing partner).

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