Asabys Partners, a Spain-based life sciences venture capital firm, has launched a €74.7 million spinout investment fund backed by the Spanish Ministry of Science, Innovation and Universities, and the European Investment Fund.
The fund has a target size of €120 million.
The Spanish government made the commitment via its Centro para el Desarrollo Tecnológico y la Innovación’s Innvierte programme. Innvierte had already supported the creation of the €100 million InceptionBio fund in March and the €30 million Montana Children’s Health fund in January.
The Asabys Innvierte Tech Transfer FCRE fund will invest in the biotech and medtech sectors, with a particular focus on companies that leverage AI, supercomputing, synthetic biology, new materials, and new therapeutic modalities.
The fund will invest from the earliest stages, including proof-of-concept financing and capital to support the creation of spinouts from universities, hospitals, and research centres.
Innvierte was established to invest in venture capital funds focused on global challenges, including healthcare, the climate crisis, and security, and particularly focusing on TRL stages 2 to 4. It has €353 million at its disposal, of which €300 million has been committed by the Spanish government and the remainder by the EIF.
