UK-based investment firm 4Bio Capital achieved a first close of $50m for its second venture capital fund on Monday with a commitment from paediatric healthcare provider Children’s Minnesota.
The other limited partners in 4Bio Ventures II have not been identified. 4Bio Capital is targeting a $150m final close by the second half of 2020.
4Bio focuses exclusively on early-stage developers of advanced therapies in areas of high unmet medical need, such as cell and gene therapy, RNA-based therapy and the microbiome.
The firm’s 29-strong portfolio includes Orchard Therapeutics, a UK-based gene therapy spinout of University College London that counted pharmaceutical firm GlaxoSmithKline as its second largest investor by the time it floated in a $200m initial public offering in October 2018.
4Bio Ventures II is similarly expected to focus on advanced therapy developers. The firm aims to supply funding for eight to 12 companies through its second vehicle, investing internationally.
Susan Slocum, chief investment officer at Children’s Minnesota, said: “Our commitment to 4Bio’s second fund is part of a paediatric health care impact investment strategy focused on moving the needle for children’s health by investing in innovative and breakthrough managers.
“The experience and deep knowledge of the team at 4Bio is impressive, and their investments and track record to date make them leaders in the field of advanced therapies.”
