Biotech investor Jeito Capital has held a €534m final close for its debut fund to mark the largest life science fundraise in Europe to date.
The European Investment Fund, the Teacher Retirement System of Texas and Temasek took part in the fund raising.
Jeito has already used to fund to make five investments including French-based Spraing Vision and InnoSkel which work in the fields of genomic ophthalmology and rare skeletal disorders, Dutch Neogene Therapeutics which focuses on solid tumors, UK-based Pulmocide which works on severe respiratory diseases, and Swiss-French company Alentis Therapeutics, which works in fibrosis and related cancers.
Founded last year, Jeito Capital had completed a first round of €200m from investors including Aviva, AXA, BNP Paribas Fortis, the French public investment bank and the Caisse des Dépôts et des Consignations. Pharmaceutical giant Sanofi also made a €50m investment.
Rafaèle Tordjman, founder and CEO of Jeito Capital, said, “We are extremely proud to have closed Jeito I, making it the largest European fund dedicated to the life sciences sector. We have thus exceeded our original target and have attracted a group of leading and diverse global investors, a testament to Jeito’s unique investment model and team.
I am pleased to welcome new investors including the EIF, TRS and Temasek and would like to thank our existing investors for their unwavering support. This important achievement will enable Jeito to fulfill its mission: to provide continuous financial support and industry expertise to talented entrepreneurs to accelerate the development of revolutionary therapies and guaranteeing patients quicker access to medical innovations.”
Jeito invests in biotech and biopharma companies that are primarily based in Europe and focus on the treatment of life-threatening diseases. It provides up to €80m of investments for a single company.
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