European life sciences venture capital firm Forbion has raised €1.35bn ($1.47bn) across its two new funds.
The latest fundraising brings the total funds managed by the company to €3bn ($3.28bn).
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The Forbion Ventures Fund VI and the Forbion Growth Opportunities Fund II both exceeded their original target sizes.
The Forbion Ventures Fund VI’s final close reached the hard cap of €750m ($821.76m), while the Forbion Growth Opportunities Fund II secured €600m ($657.41m).
The funds were created to cater to the needs of two distinct segments of the market.
The Forbion Ventures Fund VI is focused on developing a portfolio of therapeutics companies, including existing biotechs and new companies.
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By GlobalDataThe Forbion Growth Opportunities Fund II provides support to the expansion of late-stage life sciences companies. It invests mainly in European later-stage biopharma companies engaged in the development of new therapies in areas with high medical need.
The Forbion Ventures Fund VI’s existing investors re-upped, while many new investors, including the Scott Trust Endowment, Pictet Alternative Advisors, Loyola University of Chicago and Dutch pension funds PME and PMT, have also invested in the fund.
Many new institutional investors, including Legal & General Capital and Amundi, have invested in the Forbion Growth Opportunities Fund II. They joined PME, PMT, Pantheon and Eli Lilly and Company. The fund has made four investments to date.
Forbion managing partner and co-founder Sander Slootweg said: “Achieving the final close of the Forbion Growth Opportunities Fund II at the hard cap highlights the continuing need for investment in late-stage European life sciences companies, a market segment that remains under-served.
“Furthermore, the successful final close of our Forbion Ventures VI Fund demonstrates continued investor appetite for our specialist investment strategy and the opportunities we see for superior returns in development-stage life sciences companies.”
