Paris-based venture capital firm, Sofinnova Partners, has closed its Sofinnova Capital VIII fund with €300 million ($324 million) that will be dedicated toward adding 15 to 20 more biotech companies to its portfolio, two thirds of which will reportedly be in Europe, the rest in North America.
Back in 2012, the firm raised €240m, and with this new fund it brings the current amount under management at Sofinnova Partners to €1.5 billion ($1.6 billion). The company’s focus will remain in the biopharmaceutical and medical device sectors.