HomeGermanyForbion Holds First Close of BioEconomy Fund I, at EUR75M

Forbion Holds First Close of BioEconomy Fund I, at EUR75M

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Forbion, a life sciences venture capital firm with offices in Naarden, The Netherlands, Boston, MA- and Munich, Germany, held the first close of its latest fund, Forbion BioEconomy Fund I, at €75m.

The first close included the support of institutional investors including KfW Capital, Novo Holdings, and Rentenbank. Forbion BioEconomy aims to raise €150m by the end of this year and build a portfolio of 10-12 investments in Europe and North America.

This fund aims to invest in innovative companies leveraging biotechnologies to create sustainable solutions across four sectors: Food, Agriculture, Materials, and Environmental Technologies.

With its investments, the fund will back companies that aim to replace unsustainable products with biotechnology, to transform critical and polluting industries that rely on non-renewable resources.

Forbion BioEconomy will target companies that have demonstrated proof of concept, typically at Series A and B stages. The fund has already worked up a pipeline of opportunities and will actively support these companies to accelerate product development, helping them reach scale and realize their potential for impact.

The fund will be led by Alex Hoffmann and Joy Faucher, who have a track record of investing in leading European bioeconomy companies. They will be supported by members of the Forbion partnership and a network of industry veterans including Feike Sijbesma, ex-CEO of DSM, Cees de Jong, Chairman of Novonesis, Onno van de Stolpe, ex-CEO of Galapagos and Stefan Oschmann, ex-CEO of Merck KGaA as advisors and Venture Partners.

All Forbion BioEconomy portfolio companies will align with the UN Sustainable Development Goals, focusing on SDG 9 (industry, innovation, and infrastructure), SDG 12 (responsible consumption and production), and SDG 13 (climate action).

VCWire

24/06/2024