BioMedPartners hits CHF 75m first close for third fund

The healthcare-focused GP launched its third venture capital vehicle with a CHF 120m target and a CHF 150m hard-cap. It expects to reach the final close by early 2018, according to a statement.

The GP currently manages two venture capital vehicles, the Switzerland-based BioMedInvest I and Guernsey-based BioMedInvest II, which have respectively CHF 100m and CHF 106m in capital commitments.

In 2011, the Basel-based funds manager merged its first vintage with a mezzanine-dedicated vehicle, BioMedCredit, which held a CHF 50m first close in September 2006.

Investors
According to a statement, several new investors committed capital to the new fund alongside existing LPs, which included the European Investment Fund and the Swiss lender Berner Kantonalbank.

Investments
The fund manager targets early- to mid-stage companies mainly based in Switzerland and Germany, but is also keen on investing in other European countries, such as France, Italy and Austria.

As part of its strategy, the GP aims to invest in 12-16 drug development companies, as well as medical devices producers and diagnostics businesses.

People
BioMedPartners – Markus Hosang, Thomas Moeller (general partners); Andreas Wallnöfer (partner).

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