Sofinnova Partners has closed its latest flagship life sciences fund, Sofinnova Capital XI, at €650 million ($750 million), significantly above its initial target. The raise comes at a time when venture fundraising remains challenging, underscoring sustained appetite for high-conviction healthcare strategies. With this vehicle, the firm aims to reinforce its position as one of Europe’s most established early-stage investors in biotechnology and medical technology.
Fundraising Overview
Sofinnova Capital XI adds to a strong fundraising cycle for the firm, taking total capital raised across its platform to €1.5 billion over the past year. The new fund will be dedicated to backing early-stage biopharmaceutical and medtech companies that are developing solutions for pressing unmet clinical needs. It further consolidates Sofinnova’s presence across its core hubs of Paris, London, and Milan, while extending its reach into key innovation centers in Europe and North America.
Global Investor Base and Market Context
The fund attracted commitments from a broad base of blue-chip institutional investors spanning Europe, North America, Asia, and the Middle East. Limited partners include sovereign wealth funds, large pharmaceutical companies and corporates, insurance groups, foundations, and family offices. The majority of investors are returning backers, complemented by a significant number of new top-tier institutions, signaling confidence in Sofinnova’s model despite a volatile fundraising environment.
Strategy, Team and Investment Focus
Capital XI will maintain Sofinnova’s focus on early-stage opportunities, targeting companies with strong science, differentiated technology, and a clear path to clinical and commercial impact. The fund is managed by an experienced partnership that includes Maina Bhaman, Anta Gkelou, Karl Naegler, Antoine Papiernik, Henrijette Richter, and Graziano Seghezzi. Drawing on their combined scientific, medical, and operational expertise, the team intends to work closely with entrepreneurs to shape strategy, build leadership, and accelerate development timelines.
Early Deployment and Portfolio Plans
Sofinnova Capital XI is already deploying capital and has begun assembling its portfolio with initial investments in selected biotech and medtech companies. The fund will participate in both initial rounds and follow-on financings, providing long-term support as portfolio companies advance through clinical stages and regulatory milestones. The firm expects the fund to back a new generation of innovators working on therapies, technologies, and tools that can transform patient care worldwide.
Role Within Sofinnova’s Multi-Strategy Platform
The new flagship fund sits within Sofinnova’s broader multi-strategy platform, which spans seed to later-stage investments across healthcare and sustainability. By combining specialized strategies under one platform, the firm aims to capture innovation across the entire life sciences value chain and support companies at different stages of maturity. Capital XI is positioned as a core engine within this platform, feeding promising assets into downstream growth opportunities while benefiting from cross-fund insights and networks.
Sofinnova’s Track Record in Life Sciences
Founded in 1972, Sofinnova Partners is one of Europe’s longest-standing venture capital firms focused on life sciences. Over more than five decades, it has backed over 500 companies and helped build multiple market leaders in biopharma, medtech, and related fields. Today, the firm manages more than €4 billion in assets, reflecting both its historical performance and continued investor demand for specialist healthcare exposure.
With Sofinnova Capital XI, the firm significantly expands its firepower to back early-stage innovators in biotechnology and medical technology across Europe and North America. The oversubscribed close and diversified global investor base highlight sustained confidence in Sofinnova’s science-driven, hands-on investment approach. As the fund is deployed, its impact will be measured by the new therapies and technologies it helps bring from the lab to patients facing urgent unmet medical needs.