French private equity firm Edmond de Rothschild Investment Partners (EDRIP) has closed its fourth life sciences fund, BioDiscovery 4, on €192m, according to VentureWire.
EDRIP is the private equity affiliate of asset management and private banking house the Edmond de Rothschild Group. It currently has close to €1bn under management invested primarily in life sciences venture capital and growth capital.
It has some €355m under management through its Biodiscovery franchise, which are registered via the fast-track procedure are are not authorixed by the Autorité des Marchés Financiers and may adopt special investment rules.
BioDiscovery 4, which is also registered via the fast-track procedure, invests mainly in private companies, which involves specific risks such as “a risk of capital loss, a discretionary management risk and a liquidity risk”.
It 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
The fund will take a similar strategy to previous vehicles, investing in 15 to 20 life science companies across all stages of development. The investments will be made both in therapeutic drug development companies and a combination of medical technology and molecular diagnostic companies.
In July EDRIP participated in a $62.5m investment round in medical device company JenaValve Technology, alongside Belgium-based publicly traded investment firm Gimv, alongside new investors including Beijing-based Legend Capital and healthcare-focused Omega Funds.
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