Life Sciences Partners (LSP) has held a final close for its sixth life-sciences-dedicated fund on its $600m hard-cap.
The fund was launched in March 2018 with a $450m target and held a first close on €410m in November 2018.
The vehicle is larger than its predecessor, which closed on its $280m hard-cap, surpassing its $170m target, in June 2016.
LPS has raised $2.5bn since it started to invest in life sciences in 1988. The group has offices in Amsterdam, Munich and Boston. Alongside LSP 6, the firm is investing from its $300m Health Economics Fund, and its $200m public fund and mandates.
LSP's stand-out deals include Argenx, Crucell, Kudos, Movetis, Neuravi, Okairos, Prosensa, Qiagen and Zealand Pharma.
LSP 6 will invest in 15-18 predominantly European companies developing new medications and medical technologies. The fund has already made 12 investments.
LSP 6 attracted capital from a diverse investor base including pension funds, insurance companies, wealth managers, government funds and family offices. Among others, it received commitments from Bristol Myers Squibb and Otsuka Pharmaceutical.
Life Sciences Partners – René Kuijten (managing partner).
Charcoal and natural additives company saw final bids from two banks and one direct lender
VCs including the Swiss Entrepreneurs Fund, BtoV and Ringier Digital Ventures also participated
Around 40 existing and new LPs, including British Patient Capital and the EIF, participated
Fund will invest in buyouts, recapitalisations and carve-outs of both profitable and underperforming businesses