Netherlands-based life sciences investment firm LSP closed a $600m fund yesterday having raised capital from backers including pharmaceutical firms Bristol Myers Squibb and Otsuka Pharmaceutical.
LSP 6, which the firm claims is the largest life sciences venture capital fund ever raised in Europe, also features unnamed insurance firms, pension funds, wealth managers, family offices and state-owned funds among its limited partners.
Founded in 1987, LSP operates out of offices in the Netherlands, Germany and the US and invests in both private and publicly listed companies. Its recent deals include investments in oncology drug developer ImCheck Therapeutics and patient management platform developer Endotronix.
The $600m figure represents LSP 6’s hard cap. LSP’s original target was $450m and, combined with its $300m Health Economics Fund and its $200m public fund and mandates, it now has $1.1bn across its current investment activities.
LSP managing partner René Kuijten said: “We thank our loyal investors for their continued trust in LSP. Our track record, our long standing in the industry, as well as our stable and experienced team of 30 professionals have helped us raise this significant amount.
“The number of high-quality life sciences innovations in Europe is similar to the United States but there is five-times less capital available to back these innovators and entrepreneurs. With our new fund we can significantly contribute to the growth of our industry and ensure that European innovations get to patients faster.”
