Forbion Capital Partners has closed its third main fund at $208m, attracting commitments from Charles River Laboratories, Knight Therapeutics and unnamed insurance providers.
Laboratory services provider Charles River Laboratories and pharmaceutical firm Knight Therapeutics are among the limited partners for a €183m ($208m) fund closed yesterday by Netherlands-based, life sciences-focused venture capital firm Forbion Capital Partners.
German government-owned development bank KfW; the European Investment Fund (EIF), operated by EU-owned non-profit lending institution European Investment Bank; and Dutch Venture Initiative, a fund-of-funds supported by EIF, the Dutch Ministry of Economic Affairs and Dutch state and Province of Brabant-owned development agency Brabantse Ontwikkelings Maatschappij, also contributed capital.
Forbion Capital Fund III (FCF III) also attracted undisclosed insurance companies, Europe-based family offices, regional investment agencies and pension funds.
FCF III will follow a similar strategy to the firm’s last fund, allocating approximately 70% of the money to Europe-based startups and the remainder to US and Canada-based businesses. Forbion Capital Partners now has more than €700m under management.
The fund will particularly focus on drug developers, medical devices manufacturers and diagnostics providers for high or unmet medical needs.
FCF III has already committed capital to seven startups: Engene, Rigontec, Replimune, Autonomic Technologies Europe, Sanifit, Staten Biotech and Akarna, which are active in the areas of cancer, kidney disease, liver disease, dyslipidaemia, inflammatory bowel disease, and pain management.
Sander Slootweg, managing partner at Forbion, said: “Our new portfolio is already showing great promise. Canadian molecular therapeutics company EnGene, inventors of the so-called “gene pill”, has closed two major pharma collaborations since we led the series B financing round in 2015.
“In the UK, oncolytic immunotherapy company, Replimune secured a substantial and attractively priced $30m series A round after we provided the seed capital. As several more companies are currently enjoying strategic interest, this bodes well for the success of FCF III.”
– A version of this article first appeared on our sister site Global Corporate Venturing.