Sofinnova Partners raises €333m

The Paris-based venture capital firm closed its ninth healthcare fund.

Sofinnova Partners held a final closing of its ninth fund, Sofinnova Capital IX, at €333 million. The early stage healthcare and life sciences vehicle surpasses its predecessor, Sofinnova Capital VIII, which closed in December 2015 at €300 million.

Fund IX received capital commitments across Europe from several institutions including pensions, endowments, family offices, insurance companies and sovereign wealth funds. Two thirds of capital will be used to invest in European companies, while the remaining third will primarily focus on North America as well as other non-European ventures.

Based in Paris, Sofinnova Partners is an independent firm that funds life science companies globally, with an emphasis in Europe. The firm currently manages over €2 billion in assets, with Triago acting as placement agent for Fund IX.