ArchiMed holds first close for MED Platform I

Francesca Veronesi
30 October 2018

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French healthcare-focused PE house ArchiMed has held a first close on almost two thirds of its €800m target for MED Platform I after four months on the fundraising trail.

The new vehicle will target larger companies than its previous MED I and MED II vehicles, which respectively raised €146m in 2014 and €315m in 2017. MED I and MED II focus on smaller European healthcare companies, investing in firms with enterprise values of less than €100m.

ArchiMed was aided by placement agent Triago. The GP will now concentrate on completing the vehicle's first deal.

ArchiMed was founded in 2014 by former 3i Healthcare investors and now employs 30 people. The GP has recently hired three new members: Antoine Faguer as partner, Brian Sheridan as operating partner and Sofia Ysewyn as principal.

Investors
MED Platform I has received commitments from institutional investors (pension funds, insurance companies) and family offices, with a 50:50 split between the US and Europe, a spokesperson for ArchiMed confirmed to Unquote. US LPs have always been present in the GPs' vehicles and their share of commitments has steadily increased with each fundraise.

FFP, the listed investment company of the Peugeot family, announced it has invested €80m in the vehicle.

Investments
MED Platform I is ArchiMed's first investment vehicle to focus on healthcare's mid-cap sector, or companies with enterprise values of at least €100m.

The fund focuses on Europe-based companies related to medtech, biopharma and care services. It will invest between €50-300m in platform companies.

The GP intends to invest in around six companies overall and to double their size during the investment period, a spokesperson for ArchiMed told Unquote.

People
ArchiMed – André-Michel Ballester, Denis Ribon (partners).