Sunstone Life Science Ventures announced closing a new investment fund at $91M.
Sunstone Life Science Ventures, a Copenhagen, Denmark-based venture company announced the first closing of its Sunstone Life Science Ventures Fund IV at €80 million ($90.7M).
The fund is targeting a final closing of up to €150 million, with the final closing expected early 2020 the latest.
Sunstone Life Science Ventures is part of the Sunstone Capital group, which operates two separate venture funds with different teams, one dedicated to technology and the other life science venture investing.
Sunstone Life Science Ventures, founded in 2007, manages total funds of approx. €500 million and has invested in more than 40 companies in the areas of pharmaceuticals, medical technologies and diagnostics.
Sunstone LSV IV strategy is investing in novel therapeutics with the potential to improve the quality of patient care and treatment. The geographical scope is Europe with particular emphasis on the large life science hubs. The typical investments are based on strong science and technology with innovative products addressing unmet medical needs within the framework of an attractive business case.
The investment team consists of Søren Lemonius, Managing General Partner; Peter Benson, Chairman & General Partner; Dr Sten Verland, General Partner and Dr Claus Andersson, General Partner.
The previous Sunstone Life Science Venture Fund III made eleven investments in the same field and has reported top quartile performance. Recent and notable exits from this fund include Rigontec (acquired by MSD in 2017) and Prexton (acquired by H. Lundbeck in 2018).
Several of the major investors of the previous Sunstone funds also committed to Sunstone LSV IV. The investor base includes the European Investment Fund (EIF), Danish Growth Capital II, Vækstfonden, and the general partners of the fund.