Eurazeo is to raise its stake in Kurma Partners, a French venture capital firm specialising in biotechnology and medical innovation, to 70.6 per cent.
This transaction coincides with Kurma’s launch of a third investment strategy, Growth Opportunity, to support more mature companies, with late stage clinical or early commercial stage asset, in which Eurazeo will be a leading investor.
With nearly EUR500 million in assets under management and more than 45 investments made since its launch in 2009, Kurma Partners has built up strong and widely recognised expertise in the financing of innovation in the health care sector and in biotechnology, from pre-seed to growth capital, through its Kurma Biofund and Kurma Diagnostics funds. Its team of 13 investors is managed by five partners with more than 15 years of experience as investors in the health care sector.
Along with this increased stake, Eurazeo is set to become a leading investor in the funds managed by Kurma Partners, particularly in support of the launch of its new crossover investment strategy to accompany the most promising European companies, with products having reached more advanced stages of development. To accelerate Kurma’s growth trajectory, Eurazeo plans to commit nearly EUR100 million to its funds. Eurazeo will also be providing operational support, together with access to its international network, to help Kurma Partners become a European leader in the area of Life Sciences innovation. Kurma Partners will retain its management independence and its existing team.
Read more/Source: Private Equity Wire
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