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Munich’s Wellington hits €70m first close for new life science fund

20 Sep 2012

Munich-based venture capital firm Wellington Partners has hit a €70m first closing of its fourth life science fund, which will invest in medical device, diagnostics and biotechnology companies in Europe.

Wellington Partners IV Life Science Fund is targeting €120m of commitments – significantly larger than the previous Wellington Partners III Life Science Fund, which raised €78m.

The new fund has attracted investors from Germany, Switzerland, Austria, Benelux, France, the UK, the US and the Middle East.

Among the main investors in Wellington Partners IV Life Science are the European Investment Fund (EIF), LfA Foerderbank Bayern, Austria Wirtschaftsservice and several large family offices.

Wellington Partners was an early investor in Swiss-based listed pharma player Actelion and in mtm laboratories, a German diagnostics company focusing on cervical cancer screening, which was acquired by Roche in 2011 for up to €190m.

The firm’s existing portfolio comprises life science companies including therapeutic cancer vaccines company immatics, disposable colonoscope maker invendo medical, diagnostic business Oxford Immunotec, and heart valve maker Symetis.

Wellington Partners has offices in Munich, London and Zurich and invests in digital media, resource efficiency and life sciences, and boasts over €800m of assets under management.

The firm has invested in more than 100 companies since inception in 1998.

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