V-Bio Ventures, the Belgium-based venture capital firm aligned with research institute VIB, closed its second fund at €110m ($122m) today with backing from agricultural product trader Vanden Avenue Commodities.
The firm did not identify any new limited partners but Vanden Avenue was one of the LPs in the fund’s €96m second close, disclosed in January this year. V-Bio Fund 2 exceeded its €100m target.
VIB, KU Leuven, Ghent University, European Investment Fund, ParticipatieMaatschappij Vlaanderen, Federale Participatie- en Investeringsmaatschappij, BNP Paribas Fortis Private Equity, KBC Private Partners Life Sciences, Korys, De Eik and Aat van Herk are also LPs.
V-Bio Ventures now has a total of €185m under management, and V-Bio Fund 2 will target spinouts in the healthcare and sustainable agriculture sectors throughout Europe.
The vehicle is the first Belgium-based fund to gain European Venture Capital Fund accreditation, which enables funds with less than €500m under management to operate throughout the common market without having to meet all demands of the European Union’s alternative investment fund managers regulation.
In conjunction with the final close of Fund 2, V-Bio has brought on board Shelley Margetson as managing partner and promoted Ward Capoen to partner.
The original version of this article appeared on our sister site, Global University Venturing. Photo courtesy of V-Bio Ventures.
