Fountain Healthcare launches second fund

The fund exceeded the firm's initial close target. Fountain will continue to seek new capital for the fund, which has a hard-cap of €125m.

Its predecessor, Fountain Healthcare Partners I, was the firm's maiden fund, which launched in April 2008 alongside the official launch of the firm. Fund I held a first close in April 2008 on €75m.

Fountain has offices in Dublin and New York. It claims to be the largest dedicated life science venture capital fund in Ireland, with €158m currently under management.

Investors
Fund II secured commitments from funds-of-funds, sovereign funds, pension funds and one strategic corporate investor.

More than 90% of the €85m already raised has been supplied by domestic and international institutional investors.

Investments
Fund II will invest 75% of capital raised in Europe, with the rest being deployed in the US.

The fund invests in the life science sector, and will focus predominantly on speciality pharmaceuticals, biotechnology, medical devices and diagnostics.

Fund II has already made two investments, in California-based Chrono Therapeutics and Dublin-based Innocoll.

People
Manus Rogan and Aidan King are the co-founders and managing partners at Fountain.

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