With $340M crossover fund, Sofinnova Partners pivots to late-stage biotech investments while maintaining European focus
After years backing early-stage life science companies, Sofinnova Partners now has a crossover fund flush with $340.5 million (€275 million) to invest in both public and private players.
The Paris-based venture capital firm is deploying four partners to manage the fund, dubbed Sofinnova Crossover I, which will dedicate 80% of its capital to Europe. The remaining 20% is earmarked primarily for the US. All told, the investments will be split between around 15 late-stage companies, with contributions between $18.6 million to $49.5 million (€15-€40 million).
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