Paris-based venture capital firm Kurma Partners, which backs early-stage life sciences companies in Europe, held a first close for Kurma Biofund III.
The fund has a final closing target of €150 million. It will invest in about 12 to 15 private companies, four to five of which will be established by Kurma.
Pharmaceutical company Servier, French national investment bank Bpifrance SA and European midmarket private equity and venture capital firm Idinvest Partners SA, as cornerstone investors, will join the fund's advisory committee. Other institutional investors and family offices also participated in the fund's first closing.