Abingworth raises $115m for seventh Bioventures fund

Abingworth Bioventures (ABV) VII will be the GP's 11th venture-focused fund, and is understood to be targeting $400m. Abingworth has so far declined to comment.

The GP's 2012-vintage Abingworth Bioventures VI fund raised a total of £225m, above its £200m target, and currently holds 15 active investments including eight in European businesses, according to the GP's website. Abingworth's Bioventures funds have collectively raised more than $1.5bn over their 23-year history, and have backed 70 companies across the US and Europe.

This fundraise follows recent closes in the biotech space, with US-based Sofinnova Ventures hitting the $650m hard-cap for its Sofinnova Venture Partners X fund, and Spanish GP Ysios Capital Partners holding a €126m final close for its Ysios BioFund II, both in October.

Asante Capital is acting as placement agent for the fund, with King & Wood Mallesons providing legal advice and services.

Investors in the fund include the European Investment Fund, fund-of-funds manager Hamilton Lane and The Andrew W Mellon Foundation. Six of the eight current investors in ABV VII were already committed to ABV VI, and four of these have increased their commitments. Of the $115m raised so far, $73m has been raised from seven US-based investors.

For a current list of limited partners and their commitments to Abingworth Bioventures VII, visit the dedicated fund profile on unquote" data

With a similar investment strategy to previous Abingworth vehicles, the fund will provide early-stage, late-stage and venture growth capital to European and US-based companies. It will also make venture investments in public equities.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• Abingworth Management