BioGeneration Ventures announces first close of its third fund
Providing fresh capital to innovative Dutch and other European Life Sciences companies
BioGeneration Management III B.V. (“BGV”) announces the first close of its new venture capital fund, BioGeneration Capital Fund III C.V. with a target fund size of EUR 50 million.
In addition to Dutch and UK based family offices, other existing investors such as Topfonds Gelderland (a fund managed by PPM Oost) and LEH Holding (holding company of Leiden University) joined the new fund. New investors include InnovationQuarter.
The fund will provide the necessary seed and growth capital to fund 12 to 14 promising life sciences companies in Europe, with a strong focus on Dutch companies.
BGV typically invests in companies that develop new and innovative therapeutics, medical devices and diagnostics for human use that will contribute to improved and more cost-effective healthcare.
The new fund will further build on the successful strategy of the first two BGV funds that yielded major successes including Dezima Pharma and Acerta Pharma. Both companies were co-founded by BGV and were sold within three years at multi-billion dollar valuations. These companies were typical examples of the biotech sector’s ability to generate so-called “unicorns” delivering outsized returns for investors.
Edward van Wezel, Managing Partner said:
“It’s a mark of the quality of our first two BGV funds that existing investors have swiftly recommitted to our new fund, and that new investors have already joined the initial close. This first close exceeds the size of our previous funds and will enable us to build an exciting portfolio of highly innovative companies.”
Together with the first close of the new Fund, two seasoned professionals have joined BGV’s investment team:
– Mr. Oskar Slotboom has joined as Partner. Oskar held senior positions in healthcare and industrial biotech at Johnson & Johnson, Crucell and Avantium after starting his career at McKinsey & Company.
– Mr. Rob de Ree has joined as Operating Partner. Rob is the former CEO of Dezima Pharma and had senior leadership positions in large and small medical device companies including Medtronic and BMEYE. After integrating Dezima into Amgen post-acquisition, in his new role he will provide operational and entrepreneurial experience to BGV portfolio companies and management teams.
Edward van Wezel, Managing Partner commented: “With their wealth of experience, and significant contributions to the industry in previous positions, Oskar and Rob will be of great benefit to the BGV team, the Fund and our innovative portfolio companies.”
About BioGeneration Ventures (BGV) www.biogenerationventures.com
BGV is based in Naarden, The Netherlands and manages funds investing in the next generation of successful life sciences companies in The Netherlands, Belgium and Germany active in healthcare, therapeutics, medical devices, diagnostics and novel food applications. BGVs strategy is to generate value by working very closely with its portfolio companies and providing active, hands-on support. BGV launched its first fund in 2006 backed by a broad international and strategic investor-base and supported by NGI/NWO. The BGV team has a successful track record and a broad experience in the life sciences sector. In September of last year, it sold Dezima Pharma to Amgen for up to USD 1.55 billion and in December of ‘15 Acerta Pharma for up to USD 7 billion with a guaranteed payment of USD 4 billion. Both companies were co-founded by BGV in 2012 and 2013 respectively. The Acerta Pharma sale was the largest exit ever of a privately held European biotech company. In addition, in 2015 BGV sold two other portfolio companies, Lanthio Pharma to Morphosys and NovioGendix to MDxHealth.
BGV closely collaborates with Forbion Capital Partners (www.forbion.com).