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Sofinnova Partners Has Successfully Raised €150M Capital for its Third Industrial Biotech Fund

Industrial Biotech Fund

Sofinnova Partners has successfully raised €150M capital for its early-stage environmental impact fund. The fund will be used for the companies striving to leverage biotechnology to innovate and create sustainable solutions. However, Sofinnova Industrial Biotech II has become part of the venture capital firm leading sustainability initiated strategy over a decade ago with the introduction of Sofinnova Green Seed Fund. The fund will pursue helping early-stage companies by financing and simultaneously strengthening biotechnology to innovate sustainable solutions across the material, chemical, agriculture, and food sectors.

The existing portfolio includes a fraction of new chemicals and materials (DNA Script, EnginZyme), use of fermentation to manufacture food ingredients (DMC Biotechnologies, Protera, Biosyntia, Microphyt), upcycling of agricultural waste into feed, food, or chemical ingredients (Afyren, Comet Bio), development of bio-based crop protection methods (Biotalys, Micropep Technologies).

Joško Bobanović, Partner in the Sofinnova Industrial Biotech Fund, said: “The fundraise attests to the success of our strategy over the past decade and the growing understanding of how biotech can help to address global environmental challenges such as climate change, biodiversity, pollution, and food waste. We are grateful for the confidence demonstrated by our investors, a large majority of whom are returning and a significant number of new investors joining from across the globe, reflecting the growing importance and prioritization of this sector.”

Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said: “Sofinnova is a leader across the life sciences value chain and we were one of the first to see early on the power of biotechnology to create sustainable solutions. We have one of the most accomplished VC teams in industrial biotech and are now more empowered to continue doing what we have been doing for 50 years: Partnering with exceptional entrepreneurs to transform groundbreaking science into the businesses of the future.”

Sofinnova Partners was founded in 1972 and is a well-established venture capital firm with 50 years of expertise, holding over 500 companies and still creating market leaders globally.

Today, the company has around €2.5 billion under management. Also, it is a leading European firm in life sciences, specializing in sustainability and healthcare. In addition, the firm integrates a team of professionals globally with strong business, medical, and scientific expertise, particularly in Paris, London, and Milan. It has a hands-on company builder over the whole value chain of life science investments from initial to a later stage. The firm also collaborates with dedicated entrepreneurs to pursue as a cornerstone investor to create transformative solutions that possess the potential to positively impact the business.

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