Sofinnova Partners, a prominent European venture capital firm focused on life sciences, has announced the successful closing of its latest flagship fund, Sofinnova Capital XI, at €650 million (USD $750 million). The new fund significantly surpasses its initial target, reflecting strong investor confidence.
Sofinnova Capital XI aims to invest in groundbreaking biopharmaceutical and medical technology companies that address critical unmet clinical needs. The fund leverages the firm’s experienced team, including Partners Maina Bhaman, Anta Gkelou, Karl Naegler, Antoine Papiernik, Henrijette Richter, and Graziano Seghezzi, to identify promising early-stage ventures.
The fund attracted support from a diverse group of global institutional investors, such as sovereign wealth funds, leading pharmaceutical companies, insurance firms, foundations, and family offices. Investors came from Europe, North America, Asia, and the Middle East, with many existing partners reaffirming their commitment, alongside new top-tier investors. This continued confidence underscores Sofinnova’s proven strategy and track record of success.
Antoine Papiernik, Managing Partner and Chairman of Sofinnova, commented, “This fundraise is a pivotal milestone for us. It provides the resources to deepen our focus on early-stage opportunities and reinforces our collaborative, science-driven investment approach.” He added, “We are eager to back visionary entrepreneurs and accelerate breakthroughs in science and medicine that will benefit patients worldwide.”
Sofinnova Capital XI is actively deploying capital, with initial investments already made in several portfolio companies. The fund plans to continue supporting early-stage biotech and medtech ventures across Europe and North America, participating in both initial and follow-on funding rounds to foster innovation and growth.
