Wellington Partners IV holds €70m first close

The fund's target is set at €120m. Wellington Partners' previous life sciences fund raised €78m in 2007. The GP expects to close the fund in 2013.

SJ Berwin acted as the fund's legal counsel, led by partner Sonya Pauls, supported by Simon Kreft, Benjamin Letzler and Christian Schatz.

Investments
The fund targets the European biotechnology sector, including medical devices and diagnostics. The fund will start to invest immediately, with approximately half the investments taking place in the DACH region.

Investors
The fund's investor base comprises LPs from the DACH and Benelux regions, France, the UK, the US and the Middle East. Wellington also secured commitments from the European Investment Fund, LfA Foerderbank Bayern, Austria Wirtschaftsservice GmbH and family offices.

One third of commitments came from new Wellington Partners investors.

People
Led by general partner Rainer Strohmenger, Wellington's life sciences team includes Erich Schlick, Regina Hodits, Harald Keller, Ernst Mannheimer and Rolf Dienst. 

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