Vesalius Biocapital and IFD unveil Portuguese life sciences fund

Eugenia Jiménez
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Vesalius Biocapital and IFD unveil Portuguese life sciences fund

Luxembourg-based healthcare investor Vesalius Biocapital has partnered with the Portuguese National Promotional Bank (Instituição Financeira de Desenvolvimento, IFD) to launch Vesalius Biocapital III Portugal fund.

The launch Vesalius Biocapital III was launched earlier this year and reached over €65m as of the end of May 2017.

It is the first time that IFD Capital Fund partners with an international venture fund. The pioneer initiative seeks to provide support to small and medium companies (SMEs) in Portugal and targets to invest in between three to five companies over a period of two years.

Vesalius Biocapital III Portugal, focusing its investments in Portuguese healthcare companies, will be working closely with Biocant -the main biotech incubator in Portugal- to identify investment opportunities and provide growth capital to entrepreneurs.

Stéphane Verdood, managing partner at Vesalius Biocapital III Portugal, said: “We are very proud to have the support and co-investment from the Portuguese IFD. Portugal has witnessed an exciting period of growth and global interest in its healthcare sector. There is an international recognition of the R&D capabilities and synergistic development in life sciences and technology, which has created opportunities for both entrepreneurs and investors.

“We share with the IFD the goal of supporting innovation and providing growth capital to European companies. We look forward to working with them to provide support to companies developing innovative products and technologies to maximise their full potential.”

Alberto Castro, IFD’s chairman, said: “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.”

 

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