VC firm Sofinnova Partners secures €150M to invest in companies leveraging biotech to develop sustainable solutions

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Paris-based Sofinnova Partners, a venture capital firm that invests in the life sciences sector from Seed to later-stage, announced that it has secured €150M for its third industrial biotech fund dedicated to environmental impact. With this, the firm now has €2.5B assets under management for investment strategies.

Sofinnova Industrial Biotech II is also part of the venture capital firm’s pioneering sustainability strategy initiated over a decade ago with the launch of the Sofinnova Green Seed Fund.

How will the funds be utilised?

According to Sofinnova Partners, the current fund will continue to invest in early-stage companies using biotechnology to develop sustainable solutions across the food, agriculture, chemical, and materials sectors. 

Speaking on the development, Josko Bobanovic, Partner in the Sofinnova Industrial Biotech Fund, says, “The fundraise attests to the success of our strategy over the past decade and the growing understanding of how biotech can help to address global environmental challenges such as climate change, biodiversity, pollution, and food waste.” 

“We are grateful for the confidence demonstrated by our investors, a large majority of whom are returning and a significant number of new investors joining from across the globe, reflecting the growing importance and prioritisation of this sector,” Bobanovic added.

The firm’s current portfolio includes companies developing bio-based crop protection solutions – Biotalys, Micropep Technologies; upcycling agricultural waste into chemicals, food or feed ingredients – Afyren and Comet Bio; using fermentation to develop food ingredients – DMC Biotechnologies, Protera, Biosyntia, and Microphyt; or biologically producing new chemicals and materials – DNA Script and EnginZyme.

A VC firm in life sciences, specialising in healthcare and sustainability

Founded in 1972, Sofinnova Partners is a venture capital firm in Europe with 50 years of experience backing over 500 companies. The firm brings together a team of professionals with strong scientific, medical, and business expertise. 

It partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact the future. The firm prioritises projects with intellectual property and those that combine entrepreneurial track-record with pharmaceutical or industrial experience.

On its website, Sofinnova mentioned, “We invest in startups, typically originating in the academic world, as well as spin-offs, which are new companies formed around later stage assets that had been developed in larger corporations. This is particularly true in the field of biopharmaceuticals where we have generated a unique spin-off track record.”

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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