Biotope Ventures, the accelerator and investment arm for biotech research institute VIB, has secured 5€ million (£4.3 million / $5.8 million) towards a 9€ million goal for its second fund.
Investors in the fund include VIB – the Vlaams Instituut voor Biotechnologie (the Flemish Institute for Biotechnology) – as well as financial services firm BNP Paribas Fortis, venture capital investor Agri Investment Fund, and family offices The Nest and Edaphon.
Anacura, which provides analytical solutions for pharma and drug developers, has also invested in the fund, as has SFPIM Relaunch, a subsidiary of Belgian sovereign wealth fund Federal Holding and Investment Company.
Biotope Ventures Fund II is expected to close within the next 18 months. It will invest 250,000€ in as many as 30 early-stage biotech startups.
The fund will select investees twice a year and send them through a three-week programme before pitching to the investment committee.
Biotope Ventures’ first fund has backed 16 startups across agriculture, food and materials, and the portfolio has gone on to raise 30€ million in combined financing to date.
“This first close is an amazing milestone for us. It means we can keep saying “yes” to early, brave and diverse biotech founders creating positive impact. The funding we provide is about more than just runway — it’s about freedom. With €250,000 cash investment, founders can focus on unlocking the potential of their technology without being distracted by short-term fundraising pressure.”
– Annick Verween, head of Biotope
VIB also has another investment fund, V-Bio Ventures, which has considerably more capital at its disposal: it closed its second fund at 110€ million in 2022 to bring its total to 185€ million under management.