Advent Life Sciences gears up for growth fund

The sponsor registered Advent Life Sciences Growth Fund with Companies House on 27 June. 

It last raised a combined total of USD 215m across two funds Advent Life Sciences Fund III and Advent-Harrington Impact Fund in February 2021. 

Those funds targeted seed to Series A deals with a selective focus on later-stage deals. 

Healthcare has remained a bright spot in an otherwise relatively dull fundraising market. In April, Forbion closed its second growth fund on EUR 600m and sixth venture fund on EUR 750m. 

At the time, Dirk Kersten, the Forbion partner who manages its growth fund, said that LPs recognise there is a shortage of capital for mature biotech. 

Gilde Healthcare has also hit a EUR 600m target for its sixth venture and growth vehicle, as it was scouting for later-stage investments that take advantage of discounted valuations. 

Advent Life Sciences did not respond to a request for comment. 

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