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Abingworth raises £225m for tenth life sciences fund

28 Feb 2014

Life sciences and healthcare investor Abingworth has held the final closing of its tenth fund, exceeding its £200m target and raising £225m.

The fund was reported to be oversubscribed earlier this week. Abingworth Bioventures VI (ABV VI) invests in life sciences and healthcare both in Europe and the US. The majority of the funds came from existing investors.

The fund invests broadly across all stages of development including early and late-stage private deals, venture investments in public equities, venture growth and public equities. Investment size will range from £5m to £20m per investment in total after all rounds of financing, the firm said.

ABV VI is expected to make 15-20 investments and has already closed on four deals, including Avedro, Avillion, eFFECTOR and GenSight Biologics

“We are delighted to have attracted strong support from such high-quality LPs,” said Stephen Bunting, managing partner. “This is an exciting time to launch our new fund, deal flow is strong whilst the number of competitors has diminished and markets remain supportive.”

Founded in 1973, Abingworth has funds under management of over $1.25bn and offices in London, Menlo Park and Boston.

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