European life sciences VC firm Sofinnova Partners held the first close of its digital medicine-focused fund at €150M ($162M).
The new fund is backed by Apollo Global Management. Previously, Sofinnova invested 70% of its capital in European startups, with the remaining 30% globally. The new fund intends to continue with the same philosophy.
Sofinnova's partners, Edward Kliphuis and Simon Turner, will lead the new fund.
- The firm has already invested in three startups with the new fund.
- It led AI-powered digital health platform Kiro's €13.8M ($14.96M) Series A round, AI-powered radiology operating system deepcOS's €12M ($13.1M) Series A round, and drug-bacteria interaction platform BioCorteX's $5M seed round.
- Last May, Apollo committed to investing €1B ($1.08B) into Sofinnova's funds.
