Kurma Partners, a Paris-based asset manager specialising in healthcare innovation, has landed €140 million in the initial closing of its latest venture capital fund, Biofund IV. The firm has already set an ambitious target of €250 million for the final closing, scheduled for 2025, positioning this as potentially their largest investment fund to date.
Following Kurma’s proven investment strategy
Biofund IV aims to make between 16 and 20 new investments, following Kurma’s successful strategy of balancing company creation and investments in established venture-stage firms. Kurma’s investment model has proven effective, as evidenced by recent acquisitions from its Biofund III portfolio. Notable exits include Amolyt Pharma (acquired by AstraZeneca), Emergence Therapeutics (acquired by Eli Lilly), and Corlieve Therapeutics (acquired by UniQure). The fund remains thematically agnostic, allowing for opportunistic investments in cutting-edge innovations across the healthcare sector.
Biofund IV has already begun investing, with three promising companies joining its portfolio: SciRhom (focused on autoimmune diseases), Memo Therapeutics (inspired by natural immunity), and Avidicure (developing cancer immunotherapeutics).
A cornerstone of Biofund IV’s strategy is Kurma’s collaborative approach, which involves engaging with academic scientists, conducting groundbreaking research, and leveraging the firm’s extensive network of industry professionals.
What the experts are saying?
The fund has garnered significant support from both new and returning investors, including cornerstone investors Eurazeo and Bpifrance, as well as pharmaceutical industry investor CSL and other undisclosed limited partners:
Olivier Millet, Member of the Executive Board and Managing Partner – Small-mid buy-out & Nov Santé, Eurazeo, said: “With its recent portfolio company trade sales, Kurma Partners has once again demonstrated its expertise in transforming science into marketable products. Eurazeo’s participation in this new fund demonstrates our confidence in the Kurma team. With €4 billion out of €35 billion under management allocated to healthcare and invested across multiple funds pursuing complementary strategies, from company creation to more mature development stages (growth, capdev, buy-out), our strengthened commitment and mission of supporting healthcare innovation is clear.”
Dr Andrew Nash, Chief Scientific Officer and Head of Research at CSL said: “Europe is a rich source of scientific innovation, and CSL recognises the European biotech ecosystem as a powerhouse for scientific discovery. We are delighted to have found in Kurma Partners an exciting way to continue building relationships in Europe and beyond, investing in a team with a proven track record of successfully converting leading European science into companies transforming ideas into groundbreaking therapies to address unmet medical needs for patients.”
Shaping the future of healthcare
As Kurma Partners moves forward with Biofund IV, the firm is well-positioned to continue its role as a key player in the European healthcare innovation landscape. With its proven track record, strong investor support, and focus on cutting-edge technologies, Biofund IV has the potential to impact the development of new therapeutics and healthcare solutions.
We can boldly say that the future of healthcare is here, and Biofund IV will lead the charge.
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