Forbion Tops €150M Target at Second Close of First Biotech Fund

Forbion said it raised €164.5M (~$171.5M) for its oversubscribed Forbion BioEconomy Fund I, surpassing its €150M (~$156.4M) target at the fund’s second close. 

At its initial close on June 20, 2024, the planetary health fund raised €75M (~$78.2M). Forbion said it expects the fund to reach its hard cap of €200M (~$208.6M) at its final close.

The venture capital firm secured support for the fund from various institutional investors, including existing backers KfW Capital, Novo Nordisk’s parent Novo Holdings, Rentenbank and Aurae Impact, as well as new investors ABN AMRO Bank and Denmark's national promotional bank Export and Investment Fund of Denmark (EIFO).

Forbion BioEconomy Fund I invests in biotechnology and green chemistry business-to-business solutions that support sustainability in the food, agriculture, materials and environmental technologies industries. Its initial portfolio includes bioinsecticides startup Solasta Bio and food technology startup Novameat.

Forbion oversees €5B of assets across 11 funds, with a current portfolio of 58 active companies, according to its website.

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Written By: Dakota

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