LSP holds first close on third fund

Life Sciences Partners (LSP) has held a first close of its fund LSP III on E65m. All major investors in the previous LSP funds committed to LSP III, including the European Investment Fund, Residex and DSM. The fund also attracted new investors from Germany, Switzerland, Luxembourg and Finland, including SwissRe, Finnish Industry Investment, Proventure and BGL Investment Partners. The fund is a venture capital vehicle dedicated to life science investments in Europe, with particular interest in the Benelux and Germany. It will invest in between 15-20 companies, consistent with the strategy of previous funds. LSP III already has four later-stage investments in the portfolio: Netherlands-based Octoplus, Jerini and Idea AG, both based in Germany, and the Danish Zealand Pharma. Martijn Kleijwegt manages the team responsible for the fund.

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