Auriga holds €40m first close for Bioseeds fund

The fund was launched in April this year, with Auriga stating at the time that it would look to hold a first close in the region of €40m in order to start investing as soon as possible.

Although the GP might continue the fundraising effort, deploying the capital remains the prime focus. "The priority right now is to start investing in promising start-ups," co-founder Jacques Chatain told unquote". "It would of course be fantastic to attract more investors, but €40m is already a large amount for a purely seed-focused fund."

The fund has a 12-year lifespan and will look to back around 15 businesses.

Investors
The vehicle's investor base comprises public entities such as France's Fonds National d'Amorçage and the European Investment Fund, which Chatain praised for their support. Other LPs included pharma companies Sanofi Pasteur and Pfizer, as well as research institute Bioaster.

Investments
Auriga IV Bioseeds will invest €500,000-3m in start-ups operating in the fields of infectiology and microbiology. The fund will mainly target businesses borne out of academic research in the Lyon region, given the proximity of the Bioaster research institute.

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