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Sofinnova Partners. (3/2/17). "Press Release: Sofinnova Partners Raises €106 million in a First Closing of Its Industrial Biotech Fund". Paris.

	Organisation	Sofinnova Industrial Biotech I fund (Sofinnova IB I)
	Group	Sofinnova (Group)
	Organisation 2	Sofinnova Green Seed Fund
	Group	Sofinnova (Group)
	Product	Sofinnova Industrial Biotech I fund (Sofinnova IB I)
	Product 2	industrial biotechnology
	Index term	Sofinnova–SEVERAL: investment, 201703 1st closing €106m of Sofinnova Industrial Biotech I fund
	Person	Lucquin, Denis (Sofinnova Partners 201509 Managing Partner + Chairman)
	Person 2	Bobanovic, Joško (Sofinnova 201703– Partner at Sofinnova IB I)

Sofinnova Partners, a leading European venture capital firm specialized in life sciences, today announced the first closing of Sofinnova Industrial Biotech I (Sofinnova IB I) at €106 million. The fund, dedicated to renewable chemistry, follows a series of 9 investments in the sector since 2009, and places Sofinnova Partners at the forefront of this promising emerging market.

Sofinnova IB I will be invested in start-ups along the value chain from the transformation of renewable raw materials, like agricultural waste or C02, to renewable end-products such as bio-plastics and other bio-sourced materials. It will equally look at technologies coming from advances in synthetic biology and alike. The investment thesis is based on growing market demand for innovative, renewable products leveraging non-fossil raw materials and novel technologies to produce better performing or cheaper, sustainable alternatives.

Pursuing the strategy applied consistently over the years with previous funds, Sofinnova Partners will seek to invest Sofinnova IB I as a founding and lead investor in start-ups and corporate spin-offs, in Europe and North America. The focus of the fund will consist in backing visionary entrepreneurs aiming at developing paradigm changing innovations from lab to the end users market. Sofinnova IB I will seek to invest in 8 to 10 companies during the next 3 to 4 years. It will leverage an experienced and dedicated team, initially composed of Denis Lucquin, Managing Partner, Joško Bobanovic, Partner, and Michael Krel, Principal.

For this substantial first closing, Sofinnova IB I attracted premier investors, predominantly European institutions and major international industrial players, from energy, chemical and agricultural sectors, including several returning investors from the seed fund raised in 2012 in the same sector: Sofinnova Green Seed Fund.

Denis Lucquin, Managing Partner at Sofinnova Partners, said, “We are very pleased with the success of this first closing. The experience accumulated since 2009 resonated well with the investors. With investments in the sector ranging from Avantium, developing an entirely bio-based plastic bottle and now planning an IPO on Euronext, to the most recent DNA Script, revolutionizing DNA synthesis, Sofinnova Partners stands as a pioneer investor, benefitting from an acute understanding of the dynamics at work in this emerging sector. With establishment of this entirely dedicated fund, we have reached today a further important step in our development in industrial biotech.”

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together 12 highly experienced investment professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a founding and lead investor in start-ups and corporate spin-offs, and has backed nearly 500 companies over more than 40 years, creating market leaders around the globe. Today, Sofinnova Partners has over €1.6 billion under management.

For more information, please visit: www.sofinnova.fr

Press contact for SOFINNOVA PARTNERS

Anne REIN Tel: +33 6 03 35 92 05
@: anne.rein@strategiesimage.com

Record changed: 2023-06-05