Columbus Life Sciences Fund III closes on €120m

Alessia Argentieri
23 April 2021

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Columbus Venture Partners, a Spanish venture capital house focused on investments in the biotechnology sector, has closed its third fund on тЌ120m.

The fund reached its target size after only a few weeks on the road.

The vehicle is larger than its predecessors, Columbus Life Sciences Fund I, which raised €41m in 2016, and Columbus Life Sciences Fund II, which closed on €74m in 2019.

With this third fund, Columbus has reached €235m in assets under management.

Columbus Life Sciences Fund I has started its divestment period and has secured several exits, including the sale of US-headquartered biopharmaceuticals company AskBio and its Spanish subsidiary Viralgen to Bayer in a $4bn deal.

Columbus Life Sciences Fund II is currently managing its portfolio, composed of several Spanish and international biotech companies, including Sanifit Therapeutics, Highlight Therapeutics, Algenex, PTS, Tyris Therapeutics, Vivet Therapeutics and Aura Biosciences.

Established in 2015, Columbus Venture Partners specialises in investment opportunities across the life sciences industry, both in Spain and internationally. The firm is headquartered in Madrid, with further offices in Valencia, Pamplona and San Sebastián.

Investors
Columbus Life Sciences Fund III has built an LP base entirely composed of private investors, with a high re-up rate from previous LPs.

"We have had an excellent reception from our previous funds' investors," said Javier García, Columbus founding partner. "They see a great opportunity in backing our vehicles, which are able to create value in a sector – the biotechnology industry – that has become extremely important and attractive. The capital raised by our fund is entirely made up of private capital, which allows us to be independent and more selective, while establishing a mutually beneficial co-investment strategy with public funds."

Investments
Columbus Life Sciences Fund III invests in early-stage and high-growth opportunities across the life sciences, pharmaceuticals and healthcare industries.

The vehicle focuses on research and development of new therapies and industrial production of innovative treatments and drugs. It invests tickets of €5-10m, which are deployed along the entire lifecycle of its investments.

The fund aims at supporting science projects developed in research hubs, universities and startups, and seeks to accompany development towards the final commercialisation of new products and treatments for unmet clinical needs.

The vehicle expects to close several operations in the coming months.

People
Columbus Venture Partners – Javier García, Damià Tormo (founding partners).