Caixa launches latest biotech fund

Established in partnership with the Ministry of Economy and Competitiveness through the Centre for Technological and Industrial Development (CDTI), Caixa Innvierte BioMed II will back life sciences companies in Spain.

Spanish VC player Ysios Capital also launched its second biotech fund yesterday, with a €100m target. According to research by the Spanish Association of Biotech Companies, scientific research amounts to 7.15% of GDP.  

Investments
The fund will commit to series-A and series-B funding rounds for Spanish firms in the life sciences sector. The minimum equity ticket is €500,000, with maximum investment capped at €4.5m. Average investment size is expected to stand at around €2.5m.

Investors
The majority of LP commitments will come from Criteria CaixaCorp and the CDTI. VidaCaixa, the Catalan Institute of Finances and Laboratorios LETI will also contribute to the fund.

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