Kurma holds first close for Kurma Biofund III

The VC has not disclosed how much has already been committed to the vehicle. However, if the fund was to reach its target, it would significantly surpass its predecessor, Kurma Biofund II, which closed on €75m in 2013.

Aside from its Biofund vehicles, Kurma Partners has also raised Kurma Diagnostics, a fund dedicated to diagnostics technology exclusively. The fund held a first close in 2015 on €33m, according to Kurma’s website.

Investors
Strategic and institutional investors as well as family offices have backed the first close. Kurma Biofund III's cornerstone investors include Servier, BPI France and Idinvest (the latter two were also cornerstone investors for Kurma Biofund II).

Investments
Kurma Biofund III will invest in healthcare and biotechnology startups. An important focus of the Kurma Biofund vehicles has always been rare diseases.

The vehicle’s predecessor invested in 12 companies, of which four - Step Pharma, Dynacure, ImCheck and Pharvaris - were co-created by Kurma under this model. With the third-generation vehicle, the team plans to build a portfolio of approximately 12 to 15 companies, of which four to five will be new companies founded by Kurma Partners.

People
Kurma Partners - Thierry Laugel, Rémi Droller, Vanessa Malier (managing partners).

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