HomeItalyXGEN Venture Closes First Life Science Fund, at €160M

XGEN Venture Closes First Life Science Fund, at €160M

XGEN Venture

XGEN Venture, a Milan, Italy-based life science venture capital firm, closed its first fund, at €160m.

Launched in December 2022, XGEN Venture Life Science Fund will continue its fundraising efforts towards a final target of €200m.

Backers included Micheli Associati, the majority shareholder of Genextra, which participated to the launch of the fund as anchor investor together with EIF and CDP VC, UniCredit, Quaestio Capital, Banco BPM, Inarcassa, ENPAM, Fondazione di Sardegna and Banca Sella Holding, as well as family offices.

Led by founders and managing partners, Paolo Fundarò, Federica Draghi and Daniele Scarinci, who have been previously working together building and investing in innovative life science startups for nearly two decades while at Genextra, the firm will be working alongside scientists and entrepreneurs to create and invest in up to 15 companies, delivering solutions to patients through new therapeutics, medical devices, diagnostics and digital health solutions.

While taking a global view to scientific innovation, the majority of portfolio companies will be formed from technologies originated in Italian research institutes.

XGEN has, so far, invested in five companies including Page Therapeutics and Nouscom, focused on breakthrough therapies to treat cancer, Protembis, improving cardiovascular interventional procedures, TES Pharma, a drug-discovery boutique targeting orphan receptors, and a – soon to be announced – gene-therapy company for rare diseases.

The firm’s team also includes eight high profile venture partners that bring extensive operational backgrounds in various areas of the life sciences industry, and three investment professionals. The founding partners, the venture partners and the team members have all invested in the fund, with a total GP commitment of 2.5% of the total fund.