Advent France Biotechnology announced the first closing of Advent France Biotechnology Seed-Fund I, a venture capital fund supported in particular by the National Seed-Fund (Fonds National d’Amorçage) managed by Bpifrance under the Investments for the Future Program (PIA), the “EU InnovFin Finance for Innovators” initiative and the European Fund for Strategic Investments, dedicated to seeding and building innovative Life Sciences companies in France.
The Fund will work as a technology transfer fund with multiple research institutions and their respective technology transfer offices and will back entrepreneurs and early-stage companies with the potential to deliver first or best-in-class breakthrough innovations for unmet medical needs. In addition to its institutional funds-of-funds, the Fund was raised from private companies, family offices and management.
Advent France Biotechnology Seed-Fund I will predominantly invest in France where there is a strong scientific and medical community, prestigious research and academic centers and highly motivated entrepreneurs, all the ingredients to create successful biotechnology companies.
With 64,75 Mio. EUR at first closing, an experienced management team and a strong focus, Advent France Biotechnology Seed-Fund I has the right skills to deploy successful seed-investments. The demand and need for early stage Life Sciences investors remains high and Advent France Biotechnology’s management intends that the firm quickly emerges as a leading player in France in Life Sciences seed investments.
Advent France Biotechnology is supported by Advent Life Sciences, one of Europe’s leading venture teams investing in Life Sciences businesses for decades, that offers a direct access to a team of 15 investment professionals. Advent France Biotechnology will apply a similar investment methodology to Advent Life Sciences which has proven to be highly successful in seeding, creating and supporting early stage Life Sciences projects in the UK, Europe and the US. In addition to its relationship with Advent Life Sciences, Advent France Biotechnology intends to work closely with and to be complementary to existing French venture capital firms.