German firm SHS Gesellschaft für Beteiligungsmanagement has closed its fourth fund on €125m, exceeding its €100m target.
The fund is more than twice the size of its predecessor, which was launched in September 2006 and held a final close of €50m despite having a target of €70m.
Commitments to the vehicle came from LPs including pension funds, professional pension insurers, funds-of-funds, family offices, the European Investment Fund and a private health insurance company, the identity of which has not been disclosed. The VC stated its management team also invested a “significant sum” in the fund.
SHS IV Fonds will make 10-12 minority and majority investments in life sciences and medical technology companies. Its maximum ticket size will be €20m, although it will also take part in larger funding rounds alongside its existing network of co-investors.
The vehicle will specifically target businesses with successor issues and corporate spin-offs.
Hubertus Leonhardt is partner and managing director at SHS.
Responsibilities will include leadership of the distribution relationships in France, Italy, the Middle East and Spain1
GP is currently investing from its 2019-vintage DIF Core Infrastructure Fund II
GP also announced the refinancing of online gardening retailer YouGardem, scoring a 60% cost return
CDP Venture and Tim Ventures take part in the round, alongside Club Digital and Club Italia Investimenti 2