Advent France Biotechnology holds €64.75m first close

According to the GP, the vehicle has already exceeded its original €60m target at the time of its first closing.

Advent France Biotechnology has a partnership with Advent Life Sciences, a trans-Atlantic venture capital firm investing in life sciences groups based in the UK, France and the US. The relationship offers it access to a team of 15 investment managers.

The GP also said it intended to work closely with other French venture capital firms investing in the sector, raising the prospect of potential co-investment opportunities.

Advent France Biotechnology was founded in 2016 and is led by Alain Huriez and Matthieu Coutet. The team consists of investment managers with knowledge of the scientific and medical sectors.

Investors
Advent France Biotechnology Seed Fund I is supported by Fonds National d'Amorçage – France's national seed fund, which is managed by BPI France as part of the Programme d'Investissements d'Avenir (PIA). It is also backed by the EU InnovFin Finance for Innovators initiative, and by the European Fund for Strategic Investments.

In addition to its institutional funds-of-funds, the vehicle is backed by private companies, family offices and entrepreneurs.

Investments
The vehicle will support early-stage companies and young entrepreneurs within the life sciences sector. It will operate as a technology transfer fund, and target companies often considered too new or too high-risk for traditional investors, with the goal of converting research and development into marketable products. Advent France Biotechnology Seed Fund I will collaborate with research institutions and their respective technology transfer offices.

Investments will predominantly be France-based, and will largely follow the strategy set up by Advent Life Sciences, looking for groups equipped with a strong scientific and medical community, prestigious research and academic centres.

Advent France Biotechnology looks to invest in a range of activities within the life sciences sector, including new drug discovery, new therapies, enabling technologies and medtech.

People
Advent France Biotechnology – Alain Huriez (partner); Matthieu Coutet (managing partner).

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