XGEN Venture Announces €160 million First Life Science Fund
23 May 2024 - 4:00PM
Business Wire
- Investing in early stage breakthrough opportunities across life
sciences
- Led by experienced former Genextra team
- Supported by anchor investors European Investment Fund (EIF),
CDP Venture Capital SGR (CDP VC) and Micheli Associati, as well as
a broad institutional base including UniCredit, Quaestio Capital,
Banco BPM, Inarcassa, ENPAM, Fondazione di Sardegna and Banca Sella
Holding
- Launched in December 2022, has so far invested in five
companies
- Fundraising to continue to end of Q3 2024
XGEN Venture – a newly formed Venture Capital firm - announces
its first fund, XGEN Venture Life Science Fund, with €160 million
in subscriptions. With this fund, XGEN Venture will be working
alongside talented scientists and entrepreneurs to create and
invest in up to 15 companies, delivering impactful solutions to
patients through new therapeutics, medical devices, diagnostics and
digital health solutions. While taking a global view to scientific
innovation, a good portion of XGEN-backed companies will be formed
from technologies originated in Italian research institutes.
Launched in December 2022, the fund will continue its
fundraising efforts towards a final target of €200 million. It is
supported by a strong base of institutional investors including
EIF, CDP VC, UniCredit, Quaestio Capital, Banco BPM, Inarcassa,
ENPAM, Fondazione di Sardegna and Banca Sella Holding, as well as
many prominent family offices, with Micheli Associati, the majority
shareholder of Genextra, participating to the launch of the fund as
anchor investor together with EIF and CDP VC. XGEN has, so far,
invested in five companies including Page Therapeutics and Nouscom,
focused on breakthrough therapies to treat cancer, Protembis,
improving cardiovascular interventional procedures, TES Pharma, a
drug-discovery boutique targeting orphan receptors, and a - soon to
be announced - gene-therapy company for rare diseases. The fund
promotes best ESG practices within the meaning of SFDR art.8.
XGEN founders and managing partners, Paolo Fundarò, Federica
Draghi and Daniele Scarinci have been previously working together
building and investing in innovative life science startups for
nearly two decades while at Genextra. The three partners were the
first in Italy to specialize in life science venture capital
investments, successfully investing over €200 million in early
stage startups. XGEN’s team also includes eight high profile
venture partners that bring extensive operational backgrounds in
various areas of the life sciences industry, and three investment
professionals. The founding partners, the venture partners and the
team members have all invested in the fund, with a total GP
commitment of 2.5% of the total fund.
“We are pleased to have reached this ambitious target for our
first fund” said Paolo Fundarò, “with a diversified investor base
of over 75% institutional and with the participation as anchor
investor of the Micheli family - with whom we have worked for the
past twenty years at Genextra – we are deeply appreciative of the
continued support and trust from our LPs. This new fund will allow
us to continue our established strategy of building and growing
companies that conduct complex clinical programs for serious health
conditions.”
XGEN has been assisted by the law firm ALMA – LED for all legal
and regulatory matters.
About XGEN Venture
XGEN Venture is a Milan-based, newly created life science
venture capital firm. We work with a group of exceptional
scientists and entrepreneurs to translate high level science into
solutions for patients. Our company creation strategy identifies
and supports the most convincing opportunities to build effective
businesses and create value.
Investing in technologies that truly improve severe health
conditions is at the core of what XGEN does and is committed to
doing so in a responsible and impactful way, promoting best ESG
practices within the meaning of SFDR art 8. For more information,
please visit www.xgenventure.com .
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240522122886/en/
Media and Investor Relations: Mariagiulia Davide Analyst
XGEN Venture SGR SpA +39 02 36515110
mariagiulia.davide@xgenventure.com