Ysios holds €126.4m final close for second vehicle

Launched in March 2014, the fund held a first close on €51.8m in December 2014. According to previous unquote" coverage, the GP was expected to hold the fund's final close in September 2015.

Like its predecessor, the fund focuses on the biotechnology sector. To date, the GP's second vehicle has already closed five transactions with three Spanish businesses (Sanifit, Minoryx Therapeutics and Aelix Therapeutics), Swiss firm Prexton Therapeutics and US-based company Aura Biosciences. The GP expects to ink one more deal by the end of the year.

The vehicle's predecessor, Ysios BioFund I, launched in 2008 and held a first close on €67m, hitting €69m at final close, according to unquote" data.

Investors
In addition to existing investors, the fund's LP base counts newcomers including the Spanish Ministry of Economy, which committed capital through its Innvierte program; the European Investment Fund; and the European Commission, through its investment vehicle InnovFin SME Venture Capital. Other investors included pension funds Orza and Lagun Aro, family office Bernat, Banco Sabadell and Bankinter.

According to a statement, 42% of the capital was committed by family offices and private investors, while funds-of-funds and institutional funds accounted for 16% each, pension funds for 15%, and financial institutions committed 9%. Additionally, the management team committed 2% of overall commitments.

Investments
The fund focuses on the biotechnology, pharmaceuticals, diagnostics and medical devices sectors. The GP aims to acquire 15 early-stage companies mainly based in Spain, although the fund managers will look for opportunities across the European market as well.

People
Ysios Capital Partners – Julia Salaverria, Joel Jean-Mairet (partners).

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