Vesalius Biocapital and IFD launch life sciences fund

IFD which has a 10-year track record with over €250m invested, and Vesalius Biocapital will invest on a 50/50 basis in late stage Portuguese SMEs in drug development, medtech, diagnostics and eHealth/mHealth. The company’s did not disclose the target size of the fund but said that they aim to finance 3-5 companies over two years. It’s the first joint investment made by the IFD Capital Fund with an international venture fund.

Part of the investment will be raised through Vesalius Biocapital III (VBC III) fund, which secured over €65 million of commitments in a first closing in May 2017 and has a target size of €150 million.

Alberto Castro, Chairman at Instituição Financeira De Desenvolvimento (IFD), said: “The fact that the IFD Capital Fund has attracted Vesalius Biocapital, one of the most important international venture capital investors specialising in life sciences, is a vital achievement and validation of the potential in the Portuguese life sciences market. It confirms Portugal’s healthcare R&D capability to foster new ventures. We are very pleased to be working in partnership with Vesalius Biocapital, fostering cooperation and building reputation, and in the process highlighting Portugal as the place to invest in life sciences. IFD reiterates its commitment to develop the financial instruments needed to fulfill such expectations.”

 Gaston Matthyssens, Christian Schneider and Stéphane Verdood are on the Board of the Portuguese investment vehicle, and a member of the IFD will have observer status