EMBL II holds first close on €40m

ETF II has a target of >€50m and a lifespan of 10 years. Investment through the vehicle is set to begin early next year. Fees were described as in line with industry standards.

EMBL Ventures is the venture capital arm of the European Molecular Biology Laboratory, a research institute funded by public research money. Around 85 independent research groups conduct research on behalf of EMBL in molecular biology. Situated in Heidelberg, EMBL Ventures currently manages €66m on behalf of private and institutional investors in Europe. ETF II is supported by the European Communities Growth and Employment Initiative, MAP - ETF Start-up Facility.

Investors
ERP-EIF Dachfonds, a €1bn fund-of-funds, is ETF II's cornerstone investor. Previous investors have been joined by new investors supporting the fund.

Investments
EMBL Ventures concentrates exclusively on life sciences, investing primarily in European biotechnology and medtech companies in the preclinical or research stage, with particular focus given to Germany. Investment through the vehicle will support development of early-stage products and technologies, many of which will be identified and sourced through EMBL. EMBL Ventures plans to commit between €2-5m per investment and prefers to act as lead investor.

People
The EMBL Ventures core team consists of Stefan Herr, Jan Adams and Edeltraut Günterberg. Markus Schillo is head of the ERP-EIF Dachfonds.

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