Edmond de Rothschild closes latest life sciences fund on €192m


biotech_lrgEdmond de Rothschild Investment Partners (EdRIP) has closed its BioDiscovery 4 venture capital fund on €192m, making it 25 per cent larger than its previous vehicle.

The fundraise takes the total funds raised by the firm for investment in European life sciences businesses to €450m. The fund held a first closing on €125m in July of last year, and at the time the firm said it was seeking to raise €200m by the end of the year

BioDiscovery 4 was backed by include the majority of EdRIP’s life science existing investor base, including the Edmond de Rothschild Group and La Banque Publique d’Investissement.

Other investors include insurance companies, retirement funds, public pension funds and other institutional investors.

BioDiscovery 4 will invest in 15 to 20 life sciences companies across all stages of development. It will target in therapeutic drug development businesses and “a combination of medical technology and molecular diagnostic companies,” investing up to €20m per company.

EdRIP CEO Pierre-Michel Passy said, “This is a great achievement for Edmond de Rothschild Investment Partners and its life science team. At over €190 million, BioDiscovery 4 is our largest European FCPR focused fund so far.

“The strong support of our existing investors and several new relationships have allowed us to raise the fund in a little more than a year. We see this as clear recognition for our investment strategy and a recognition of our life science team as expert venture investors.”

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