Copenhagen, Denmark-based Sunstone Life Science Ventures held the first closing of its fourth life science venture fund, at €80m.
Backed by several of the major investors of the previous funds including the European Investment Fund (EIF), Danish Growth Capital II, Vækstfonden, and the general partners of the firm, Sunstone Life Science Ventures Fund IV will continue the firm’s strategy of investing in novel therapeutics with the potential to improve the quality of patient care and treatment.
The typical investments are based on strong science and technology with innovative products addressing unmet medical needs within the framework of an attractive business case. The geographical scope is Europe with particular emphasis on the large life science hubs.
Since inception, Sunstone Life Science Ventures has invested in more than 40 companies in the areas of pharmaceuticals, medical technologies and diagnostics, and has completed more than 20 IPOs and large M&A transactions. It has approx. €500 million AUM.
The previous Sunstone Life Science Venture Fund III made eleven investments in the same field and has reported top quartile performance. Recent and notable exits include Rigontec (acquired by MSD in 2017) and Prexton (acquired by H. Lundbeck in 2018).
The fund will be led by:
– Søren Lemonius, Managing General Partner;
– Peter Benson, Chairman & General Partner;
– Dr Sten Verland, General Partner and Dr Claus Andersson, General Partner.
The firm also announced the appointment of Jacob Lange Moresco, PhD, as Investment Director. He will be joining Sunstone on 1 March 2019 and will be part of the team investing from the new fund.
Sunstone LSV IV is targeting a final closing of up to €150, and has already received commitment for an additional investment of €13. Final closing is expected early 2020 or before.
FinSMEs
07/02/2019