iBionext closes maiden fund iBionext Growth on €90m

The fund was launched in Q1 2016 with an initial target of €100m. iBionext Growth held a first close in September 2016 on €46m, according to Unquote Data. 

iBionext is a venture capital GP specialising in healthcare-focused startups. 

Investors
iBionext Growth Fund is supported by around 20 investors. A spokesperson for iBionext disclosed that institutional backers were mostly French, including BPI France, health insurance companies and pension funds. A minority of investors were international, including British and Belgian family funds, and one Chinese corporate.

BPI France invested via its Biotech Healthcare Acceleration Fund.

Investments
iBionext Growth follows startups from inception to the expansion stage. Starting with seed funding and early-stage rounds, the fund then plans to buy substantial stakes and co-invest with other backers. From start to finish, the fund will not invest more than €15m in total in each startup.

The fund will back startups as they accelerate their development and start clinical trials or commercialisation activities.

The vehicle has already made five investments: Chronocam, Chronolife, Tilak Healhcare, BrainEver and Brainiac.

People
iBionext – Alexia Perouse (managing director, partner); Muriel Badawi (partner).

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