Vesalius Biocapital has held a final close on €120m for Vesalius Biocapital III after more than two years on the road.
The vehicle was launched in March 2017 and held a first close on €65m in May 2017, and an interim close on €110m in January this year. It had a target of €150m.
The fund's predecessor, Vesalius Biocapital II, held a final close on €80m against a €100m target in 2013.
The fund attracted commitments from investors in Europe, the Americas, the Middle East and North Africa. The European Investment Fund made a €30m commitment to the vehicle.
The fund has completed three investments to date: Portuguese medical equipment business Sword Health in April 2018; Finnish pharmaceutical company Forendo Pharma in September 2018; and German medical technology firm Mecuris in January this year.
It will continue investing in later-stage European life-sciences companies in drug development, medtech, diagnostics and digital health with the goal of building a portfolio of 10-15 companies.
Versalius Biocapital – Christian Schneider, Stéphane Verdood (managing partners).
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