MVM launches fifth fund

Oscar Geen
31 May 2018

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London- and Boston-based life sciences investor MVM Life Science Partners has launched its fifth fund.

The vehicle was registered in the UK as MVM V LP and will target £300m, Unquote understands.

A fund-of-funds conducting due diligence on the latest raise described it as a "healthcare special situations" strategy.

Its predecessor, MVM Fund IV, held a final close on $233m in May 2016 and was placed by M2O Private Fund Advisors.

The GP has increased its fund size steadily since closing the UK Medical Ventures Fund on £40m in 1998. MVM International Life Sciences Fund II hit its £100m target in 2002 and MVM III is thought to have collected £150m in 2008.

Monument Group is acting as placement agent for the latest raise and Paul Hastings is the legal adviser.

Investors
The European Investment Fund committed to MVM's previous funds, and West Midlands Pension Fund backed MVM III.

Investments
MVM targets investments between $15-30m in European and North American healthcare companies. It focuses on sub-sectors including speciality pharmaceuticals, medical technology, diagnostics, life sciences tools, consumer healthcare, veterinary medicine, healthcare services and digital health.

People
MVM Life Science Partners – Thomas Casdagli (partner).