Sofinnova Ventures raises $650m

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Sofinnova Ventures has raised $650 million for its Sofinnova Venture Partners X, according to a SEC filing. The Menlo Park-headquartered firm began fundraising in 2016 with a $550 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 biopharmaceuticals and clinical stage investments sectors in North America and Europe.