Advent France Biotechnology has held a first close for its maiden life sciences seed fund, Advent France Biotechnology Seed Fund I, with €64.75m of commitments.
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Bain, Cinven secured more than 63% of outstanding shares during the acceptance period
Sale of stake in kitchen designer and retailer generates around 2x money multiple for the vendor
Backstage Invest also takes part in the round, while other shareholders retain their stakes