EIFO is among the investors who have jointly contributed 650 million euro to the well-managed Paris-based life science venture capital fund Sofinnova Partners’ latest fund, Sofinnova Capital XI.
The new fund aims to support a new generation of groundbreaking bio- and medtech companies addressing urgent and previously unmet clinical needs.
Like other fund investments from EIFO, this investment is made with the intention of attracting further capital to the Danish ecosystem.
“Life science is one of the strategic focus areas for investments at EIFO, and Sofinnova Partners is one of the leading European life science venture funds. There is a significant lack of capital for early-stage life science investments, and by investing in Sofinnova Capital XI, EIFO is supporting an important European and Danish agenda, whilst of course also expecting to generate an attractive financial return,” says Christoph Junge, Head of Fund Investments at EIFO.
“Sofinnova is a longstanding partner for EIFO, and with one of their key partners based in Denmark, we expect that our involvement will also attract investments in Danish startups,” continues Christoph Junge, drawing attention to Managing Partner at Sofinnova Partners, Henrijette Richter, who was part of the founding team behind Novo Seeds and has already, on behalf of Sofinnova Partners, invested in several Danish life science startups.
This includes, among others, Muna Therapeutics and Freya Biosciences.