Forbion holds first close above target at €270m

The fund officially launched in May 2018 and was targetting a first close of €250m. The expects to hold a final close in autumn 2018. Forbion declined to comment on the target for the final close.

Its predecessor, Forbion III, held a final close on €183m, just below its €200m target, in April 2016.

Forbion IV will have a stronger focus on biotechnology than the third fund and it will also allocate a larger portion of the fund for building companies that it founds itself.

It will aim to create a portfolio of 15 companies, five of which will be founded or co-founded by Forbion and 10 of which will be already established businesses.

Cebile Capital is acting as placement agent for the latest fundraise. The previous fund was placed by Dutch agent XS Investments.

Investors
Forbion said it had received support from both new and existing investors to reach its first close. The European Investment Fund made a €10m commitment to Forbion III, which also received backing from Norwegian insurance company Kommunal Lanspensionskasse and German bank KfW, according to Unquote Data.

Investments
Fund IV will target life sciences companies in Europe and North America with an 80-20 bias towards Europe. It will target initial stakes of 20-50% in the growth companies it backs.

People
Forbion Capital Partners – Sander Slootweg, Geert-Jan Mulder, Martien van Osch (managing partners).

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