Pureos Bioventures to raise new fund in 2022

Ketaki Gokhale
20 December 2021

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Pureos Bioventures, a Swiss VC investing in pre-clinical and clinical-stage drug developers, plans to raise a second fund of approximately CHF 250m-300m by the end of next year, managing partner Martin Münchbach told Unquote.

Pureos will likely start fundraising next year once its first fund is fully invested, with the aim of closing that second fund by the end of 2022, Münchbach said.

Pureos's strategy and focus will remain unchanged for the new fund, Münchbach said. The VC invests in innovative drug companies, with an emphasis on next-generation biological drugs and drug formats, including therapeutic antibodies, RNA modulating therapies, and cell and gene therapies. It has made significant investments in the oncology space so far, and its upcoming deals will most likely be in other areas, Münchbach said. Pureos has a strong interest in making new investments in the inflammation space, and companies developing platform technologies, for instance.

The VC held a final close for its first fund last year, bringing its size to USD 205m. European companies represent approximately 80% of its portfolio, with half based in Switzerland and the other half in the rest of Europe. The remaining 20% of its portfolio are companies based in the US and Asia.

Pureos invests in seed-stage companies, and also in some late-stage companies to balance its portfolio from a risk perspective, Münchbach said. It has 13 companies in its portfolio and Münchbach expects the first fund to go to 20 companies, since some exits have happened earlier than expected.

Pureos aims to provide its investors with a 3x return, Münchbach said.