Wellington Partners closes €210 million fund to invest in European life sciences startups addressing unmet medical needs

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Munich-based VC Wellington Partners, which invests in early- and growth-stage life science companies, has announced the final close of its fifth fund, Wellington Partners Life Science Fund V (WPLS-V). The fund closed at €210 million, making it the largest life science dedicated fund raised by the VC to date.

WPLS-V will build a portfolio of approximately 15-20 companies, ranging in focus from novel biotechnology platforms, new therapeutics, medical devices, and selected investments in diagnostics and digital medicine. Like its previous fund, WPLS-IV, the new fund will primarily target opportunities in Europe – with a particular focus on German speaking areas – but will also selectively consider opportunities in North America or Asia.

WPLS-V attracted international investment from new blue-chip investors including KfW Capital, Talanx and US-based UTIMCO, the University of Texas/Texas A&M Investment Company. Existing investors European Investment Fund and the European Investment bank also participated in the fund.

“The successful final close for Wellington Partners Life Science Fund V at €210 million, more than double the size of our previous fund, is testament to investor appetite for our specialist investment strategy and to our team’s unrivaled experience and long-standing track record in European life science investing,” said Managing Partner Regina Hodits.

“We are seeing clear opportunities for superior returns from investing in pioneering European life sciences companies. Given the world-leading innovation ecosystem in Europe, particularly in the German speaking region, paired with a scarcity of qualified financial investors operating in the European life science arena, we have already identified significant opportunities for WPLS-V.”

Wellington Partners invests in proven technologies and business models in the diagnostic, medical device, and digital health spaces. Its focused investment strategy has been successful, with recent exits including:

  • The sale of Munich-based digital pathology company Definiens to AstraZeneca for up to $300 million within less than six months from investing, having followed the Company’s development for several years
  • German immuno-oncology company Rigontec’s sale to MSD for up to $553 million
  • Swiss Symetis, a medical device company with a significant market presence in the German speaking area prior to its $435 million sale to Boston Scientific
  • The trade sale of Invendo Medical, a pioneer in disposable GI endoscopy devices, to Ambu for up to €225 million