Fountain holds first close at EUR75m

Fund

Fountain Healthcare Partners has held the first close of its inaugural fund Fountain Healthcare Partners I with EUR75m of committed capital. The fund is the largest dedicated to life sciences venture capital in Ireland and one of the largest emerging manager venture capital funds raised in the life sciences sector globally in the past two years.

Investors

Over 90% of the capital invested was sourced from institutional investors, three quarters of which were based in Ireland. Investors included high-net-worth individuals and the European Investment Fund, the National Pension Reserve Fund and Enterprise Ireland.

Investments

The majority of the fund's capital will be invested in Europe with a strong emphasis on the life sciences sector in Ireland. The first close has exceeded initial expectations and Fountain is targeting a final close of approximately EUR100m.

Fountain is a product-focused fund that will invest in companies with product development programmes that have a defined pathway to commercialisation, value enhancement and exit. The fund will invest EUR500,000 to EUR7m per company and will have an emphasis on these sub-sectors: speciality pharmaceuticals; biotechnology; medical devices and diagnostics. It will invest over multiple funding rounds alongside international and domestic life science-focused venture capital firms.

People

Dr Manus Rogan, Aidan King, Dr Ena Prosser and Justin Lynch are the principals at Fountain Healthcare Partners.

Name: Fountain Healthcare Partners I

First close: EUR75m

Focus: Life sciences

Contact

Ireland: Aisling Garvey

Tel: +353 1663 3607, +353 8741 69662

UK & Europe: Deborah Scott, John Dineen

Tel: +44 20 7269 7193

Address

Adelaide Chambers

Peter Street

Dublin 2

Ireland

Tel: +353 1 483 0836.

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