Just closed: Sofinnova Ventures raises $596m

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Sofinnova Ventures has raised $596 million for its Sofinnova Venture Partners X, according to a SEC filing. The Menlo Park-headquartered firm began fundraising in 2016 with a $650 million target.

Its previous fund raised $500 million in 2014.

Investors that committed to Sofinnova Venture Partners X include the Teachers' Retirement System of the State of Illinois and the Massachusetts Pension Reserves Investment Management Board.

The fund will target venture capital opportunities in biotech/life science sectors in North America and Europe.