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ArchiMed holds first close for debut fund

9 Jun 2014

hospitalHealthcare-focused private equity firm ArchiMed has hit a first close of €100m for its new fund after three months on the road, which puts it just €20m away from its target.

The fund, Med I FIA, held the first closing on April 1 this year after securing commitments from 15 international institutional and private LPs, said ArchiMed.

ArchiMed, which was launched by former head of global healthcare at 3i Denis Ribon, targets in lower mid-market companies based throughout Europe.

The firm is currently working on potential deals in France, the UK and Switzerland.

Ribon and his three ArchiMed co-founders, Vincent Guillaumot, Cédric Berger, and David Piccoli have invested nearly €750m across 20 deals in the last thirteen years, posting a return multiple of 2.5 times.

Ribon said, “In European healthcare, the demand for specialized capital greatly exceeds supply.

“The sector’s tremendous investment opportunities made it an irresistible moment for an experienced team like ours to strike out on our own.”

3i recently sold vehicle engine and transmission maker Hilite International for a return of 2.3 times.

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