Luxembourg-based Vesalius Biocapital has joined with the Portuguese National Promotional Bank (IFD) to back invest in life science companies.
The specialist life sciences venture capital investor said its third fund, Vesalius Biocapital III, has formed a partnership with IFD to invest in Portuguese life science businesses, dubbed Vesalius Biocapital III Portugal.
Four months ago, Vesalius held a €65m first close for its third fund, which will focus on later-stage European life sciences companies, making between 10 and 15 deals.
The fund will focus on businesses operating within the drug development, medtech, diagnostics and digital health sectors.
Vesalius Biocapital III Portugal represents the first joint investment made by the IFD Capital Fund with an international venture fund and is part of its initiative to provide support to small and medium enterprises (SMEs).
The new vehicle will work closely with Biocant, the main biotech incubator in Portugal, to identify investment opportunities and provide growth capital to entrepreneurs.
It invest in later-stage Portuguese companies in drug development, medtech, diagnostics and eHealth / mHealth, with the goal of investing in between three to five companies over a period of two years.
IFD chairman Alberto Castro Chairman said: “The fact that the IFD Capital Fund has attracted Vesalius Biocapital, one of the most important international venture capital investors specialising in life sciences, is a vital achievement and validation of the potential in the Portuguese life sciences market. It confirms Portugal’s healthcare R&D capability to foster new ventures.”
Copyright © 2017 AltAssets