New Capital, Venture Capital

European VC firm Kurma sets its sights on €150 million fund, its biggest ever

Parisian venture capital firm Kurma Partners is raising the bar. It has set its sights on its biggest-ever fund — the Kurma Biofund III — with a target of €150 million (about $170 million), backed by marquee investors including Servier, Bpifrance and Idinvest, it said last week.

The new fund target is a significant step up from its preceding funds (Kurma Biofund I, II), which targeted between €50 million and €55 million.

Kurma Biofund II, which began its investment period in 2013, largely focused on rare diseases and has invested in 12 companies, four of which Kurma co-created. The third Biofund is expected to include a portfolio of 12-15 companies, of which four to five will be founded by Kurma, the company said.

Olivier Laureau

“There is very exciting science currently developed within both the leading European academia’s and innovation ecosystems that requires equity financing and venture capital know how to bring these new therapies to patients,” said Servier president Olivier Laureau in a statement.

Kurma, through its Biofunds, has invested in a host of companies in recent years from pre-seed to growth capital, including Stilla Technologies, Dynacure and Step Pharma.

The company, which also has an acceleration fund dedicated to diagnostics sized about €35 million, was founded in 2009 and said on Friday it had executed the first closing of the third Biofund.

Co-founder Thierry Laugel has led investments in more than 25 companies, including Actelion and Auris. He also serves as managing director along with Rémi Droller and Vanessa Malier.


Image: Thierry Laugel, Rémi Droller and Vanessa Malier. KURMA


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