Paris-based Kurma Partners, a venture capital group specialised in healthcare, has announced the first closing of its latest venture capital investment fund, Biofund IV, with a total of €140M raised to date.
The firm aims to reach a final target of €250M by the fund’s closing in 2025.
Thierry Laugel, Kurma Partners’ co-founder and Managing Director, says, “Access to exceptional science and the best industry capabilities is at the heart of what we do. Bridging academia, industry and fellow investors, we work to positively impact Europe’s health innovation ecosystem and human health on a global scale.”
Rémi Droller, MD of Kurma Partners, adds, “We are excited with the launch of Biofund IV and confident that we will continue to generate positive returns for investors and make a real impact for human health.”
What to expect from the new fund?
Biofund IV plans to make 16 to 20 investments, having already committed to three companies: SciRhom, focused on autoimmune diseases; Memo Therapeutics, which draws inspiration from natural immunity; and Avidicure, specialising in cancer immunotherapy.
The fund will maintain a balanced, risk-managed investment strategy, supporting both company creation and established venture-stage firms.
Biofund IV will employ Kurma Partners’ collaborative approach, engaging with academic scientists and using a network of experienced industry professionals to foster the success of its portfolio companies.
This strategy has previously proven effective, as evidenced by the acquisition of companies from its Biofund III portfolio, including Amolyt Pharma by AstraZeneca and Emergence Therapeutics by Eli Lilly.
Investors supporting Biofund IV
Kurma Partners’ Biofund IV has attracted investments from key players, including cornerstone investors Eurazeo, returning investor Bpifrance, and pharmaceutical investor CSL, alongside other undisclosed participating limited partners.
Olivier Millet, Member of the Executive Board and Managing Partner – Small-mid buyout & Nov Santé, Eurazeo says, “With its recent portfolio company trade sales, Kurma Partners has once again demonstrated its expertise in transforming science into marketable products. Eurazeo’s participation in this new fund demonstrates our confidence in the Kurma team.”
“Our strengthened commitment and mission of supporting healthcare innovation – from inception to maturity – is clear, with €4B out of €35B under management allocated to healthcare and invested across multiple funds pursuing complementary strategies, from company creation to more mature development stages (growth, capdev, buy-out), our strengthened commitment and mission of supporting healthcare innovation is clear.”
Brief about Kurma Partners
Founded in 2009, Kurma Partners is a venture capital group financing innovation within the healthcare sector.
The firm invests in companies from their inception through growth, spanning various healthcare franchises. These include early-stage biotechnology through Biofunds I, II, and III, as well as digital health and early-stage diagnostics with Kurma Diagnostics and Kurma Diagnostics 2.
More recently, Kurma has introduced the Kurma Growth Opportunities Fund for growth capital investments.
With a team of 25, including 10 partners, Kurma operates from offices in Paris and Munich, actively engaging in the European ecosystem and maintaining a network with international research institutes, hospitals, entrepreneurs, industry leaders, and fellow investors.
Kurma Partners is part of the Eurazeo group, a European investment firm managing €35.4B in diversified assets, which include private equity, private debt, real estate, and infrastructure strategies.
Eurazeo supports over 600 mid-market companies and the group is listed on Euronext Paris.
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