BioMedPartners has announced the first closing of BioMedInvest III, its third Guernsey-domiciled equity venture capital fund, at CHF75 million.
The healthcare venture capital fund invests in private early-to-mid-stage companies in Switzerland, Germany and neighbouring countries of the European Union.
“The continued success of BioMedInvest has clearly convinced major investors in the previous funds to commit also to BioMedInvest III. Among these are a large European institutional investor and the Berner Kantonalbank, BEKB,” says Dr Markus Hosang, General Partner at BioMedPartners.
BioMedInvest III, a collective investment scheme authorised by the Guernsey Financial Services Commission, is the third Guernsey-domiciled BioMedPartners fund administered by Louvre Fund Services.
Collas Crill acted for BioMedInvest on the establishment of the fund, led by Group Partner Paul Wilkes.
The new fund will continue BioMedPartners’ strategy of investing in innovative biopharmaceutical, medical device and diagnostics companies.
With a target size of CHF120-150 million, BioMedInvest III plans to invest in 12 to 16 private companies. It will start to invest immediately, and the final closing is foreseen for early 2018.