Ysios holds first close on €51.8m

The fund has a €100m target, which the GP expects to hit in September 2015, according to local media reports.

The vehicle launched in March 2014. Its predecessor, Ysios BioFund I, launched in 2008 and held a first close on €67m, according to unquote" data, hitting €69m at final close.

King & Wood Mallesons provided legal advice.

Investors
The majority of investors are existing backers of Ysios's funds. Among its LP base, the previous vehicle counted several financial institutions (47%), including Kutxa, Banco Santander, LA Caixa, Banesto and Caja Murcia; SME development firms (21%), including Sociedad de Desarrollo de Navarra, Institut Català de Finances and Empresa Nacional de Innovación; family offices and private investors (16%), including the Bernat family office, Marmara Capital and JV Risk Technologies; and collective investment entities and other sources (16%) including Telefónica pension fund Fonditel, according to unquote" data.

The GP has contributed 1% of the latest fund.

Investments
Ysios BioFund II will back life sciences firms in the pharmaceutical, medical technology and diagnostics sectors in Europe and North America. The vehicle will invest in up to 15 companies and will consider co-investment opportunities with international investors and corporate venture funds.

People
Joel Jean-Mairet is managing partner at Ysios.

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• Topics
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• Ysios Capital