Netherlands-based life sciences venture firm LSP has reached an €80m ($100m) first close for its fifth fund, with participation from at least one corporate limited partner.
LSP raised the cash from institutional and private investors from Europe and the US, in addition to a large pharmaceutical company that contributed to its $125m fourth fund. The corporate in question is likely to be either Pfizer or GlaxoSmithKline.
The firm has set a target of almost $190m for LSP 5, and will use the cash to invest in between 10 and 15 pharmaceutical and medical technology companies.
LSP has now raised a combined $1bn since it was founded in 1987, and its portfolio companies over the years include Affimed, Pronsensa, Okairos and Qiagen.