Truffle Capital closes new BioMedTech venture fund at €85m
French venture capitalist Truffle Capital announced the first closing of its BioMedTech venture fund aimed at investments into North American and European medical devices and biotechnology start-ups.
The new institutional venture fund, which had its initial closing at €85m aims to more than double to meet its €200m target in 2018. According to the VC company, European and Asian institutional and corporate investors, as well as family offices, invested in this initial closing.
After selecting major breakthroughs from top universities in North America and Europe, Truffle BioMedTech will create start-ups in France, each with the potential to become a global leader thanks to a disruptive and life-changing medical device, drug or healthcare product, said Philippe Pouletty, MD, co-founder and CEO of Truffle Capital. So far, the company has 15 life sciences and med-tech companies in its portfolio.
Following the funds first closing, Truffle Capital set up and financed three companies in France: HoliStick Medical, chaired by Antoine Pau, Truffle Partner; ArteDrone, chaired by Alain Chevallier, Truffle Partner; and Nanosive, chaired by Philippe Pouletty. In total, a dozen companies are expected to be financed by the new fund.
T. Rowe Price
Sandoz
Tenthpin Solutions AG