Capricorn launches €120m Health-tech Fund

Capricorn Venture Partners has launched a new vehicle designed to invest in early- to mid-stage health technology investments. The fund is seeking to raise €100-120m and will hold a €30m first close at the turn of the year, with a final close expected at the end of 2010. It is Capricorn Venture Partners' fourth fund, and its second sector-specific vehicle working in parallel to its €112m Cleantech Fund raised in 2008. Capricorn has no immediate plans to raise a fund in other sectors.

Investors
For the first close, the fund will seek investments from LPs in the Benelux region. Subsequently, it will seek investors globally and will consider using a placement agent. Investors will include institutionals, family offices and private individuals who may choose to invest via a feeder fund set up by Capricorn.

Investments
Capricorn Health-tech Fund will specifically target technology businesses working on the prevention, diagnosis and treatment of diseases. The human health-tech sector comprises a diverse range of products and services in the following sub-sectors: biopharmaceutical drugs; medical technology; diagnostics; and food ingredients. The fund will seek to make 12-15 lead or co-lead investments during its lifespan with an average of €7-10m allocated per transaction. The fund will begin investing after its first close on a pan-European scale, allocating up to 20% for deals outside the EU.

People
The fund will be managed by Dr Jos Peeters, Dr Frank Bulens, Dr Els Hubloux and Dr Els Vanheusden.

Name
Capricorn Health-tech Fund
Target
€100-120m
Launched
October 2009
Focus
Healthcare sector
Contact
Jos B Peeters
Address
Capricorn Venture Partners NV
De Jonge St. Jacob
Lei 19/1 - B-3000 Leuven
Belgium
Tel. +32 16 28 41 00
Fax +32 16 28 41 08

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