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New developments in biotech funds in Spain (En-2015)


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BY : Diego GutiérrezFebruary Tue, 2015
A small number of venture capitalists specialising in biotechnology are consolidating in Spain. Some of them are receiving support from international investors and others are emerging as a result of the attractiveness of Spain for this sector. Let us look at some examples.

Ysios makes a first closing of its second fund

Ysios was created in 2008 as the first Spanish venture capital manager specialising in the life sciences sector. It invests both in Spain and abroad. It has recently secured commitments from investors totalling €51.8M, enabling it to close its second fund with a target of €100M.

"The big challenge in the fundraising process is replacing banks and savings banks as LPs with new investors. In the case of Ysios, in the first fund, banks accounted for 48% and in this second fund they are not expected to reach 10%," says Diego Gutierrez of Ysios.e ABRA INVEST.

Ysios' investors include public institutions such as CDTI, family offices such as Bernat Fo and Vilcasas and financial institutions such as Lagun Aro, Sabadell Investment y Orza.  

CRB inverbio attracts CAF as a new investor

CRB inverbio CRB Inverbio's second fund, CRB Inverbio, was founded in 2010, building on the experience and know-how of Cross Road Biotech, which had invested in 10 biotech companies since 2005, with a first closing of €30M in 2012, and has recently managed to incorporate CAF as a shareholder with a contribution of €3.9M, or 11.5% of the total capital under management.

CAF, Andean Development CorporationCAF is a Latin American development bank established in 1970 and made up of 19 countries - 17 Latin American and Caribbean countries plus Spain and Portugal - and 14 private banks. CAF is one of the main sources of multilateral financing and an important generator of knowledge for the region.

"CAF has recently entered into COFIDES by acquiring 1.14% of its share capital at BBVA. The investment in CRB Inverbio is one of its first forays into specialised venture capital in Spain. Hopefully it will expand its presence in other technological areas," says Diego Gutierrez.  

Ousul ventures, a new biotech fund

Catalan and US executives have just announced the launch of a new fund specialising in biotechnology. Its name is Ousul Ventures and it expects to raise between €100M and €150M, mainly from Middle Eastern sovereign wealth funds.

The fund's objective is to invest in companies that are able to participate in the creation of a scientific and biomedical research community in the Persian Gulf countries. Advised by Biocat, are also analysing scientific projects developed by Catalan hospitals.

Other posts that may interest you

Juan Diego Cuenca, partner of Abra-invest, analyses the biotechnology sector on Gestionaradio

List of acquisitions in Biotechnology Spain

List of investors in Spain in Biotechnology

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