Fund Raise Reaches Hard Cap, Exceeding Target of �100 million
Total Capital Under Management Reaches 300 million
DUBLIN & NEW YORK–(BUSINESS WIRE)–Fountain Healthcare Partners (Fountain) today announces the Final Closing of its third fund, Fountain Healthcare Partners Fund III, L.P. (Fund III) with 125 million of committed capital, exceeding its initial target raise of 100 million. The Fund previously announced a First Closing at 118 million. The Final Closing includes the addition of Japan-based pharmaceutical and biotechnology company Kyowa Kirin Co., Ltd. (Kyowa Kirin).
Fund III is a dedicated life science venture capital (VC) fund and brings Fountains total capital under management to 300 million. Within the life science sector, Fund III will primarily focus on therapeutics and medical devices.
The 125 million capital raised was sourced from major domestic and international institutional investors, including fund of funds, sovereign funds, corporate investors and family offices.
Fountain will invest a majority of the capital in Fund III within Europe but expects to also make investments in the US market. Fund III is expected to make up to 10 investments in predominantly private life science companies and has already completed three deals:
Fountain also recently announced the following:
Dr Manus Rogan, co-Founder and Managing Partner at Fountain, commented:
Fountains investment strategy focuses on building a balanced portfolio of companies with complementary risk and return profiles within the life science sector. This strategy has resulted in a strong portfolio of investments for both Fund I, Fund II and now Fund III. We are pleased to have now reached our Fund hard cap of 125 million and are delighted to welcome such a high calibre strategic investor as Kyowa Kirin to Fountain.
Aidan King, co-Founder and Managing Partner at Fountain, added:
Life sciences continues to be one of the most attractive sectors for investors. Fountain has demonstrated the ability to identify companies in this sector that are developing transformative therapeutics and devices to address unmet medical needs and in doing so to generate attractive investment returns. We appreciate the support of Kyowa Kirin as we select the remaining companies for Fund III.
Takeyoshi Yamashita, Ph.D, Executive Officer, Director of Corporate Strategy & Planning at Kyowa Kirin, said:
Fountain Healthcare Partners Fund III and its focus on innovative technologies and products that address high unmet medical needs, give us a fantastic opportunity to support start-ups and emerging companies in the life science sector. This investment underlines our shared ambition to contribute to the health and well-being of people around the world by creating new value through the pursuit of advances in life sciences and technologies.
About Fountain Healthcare Partners
Fountain Healthcare Partners is a life science venture capital fund with offices in Dublin, and New York. Founded in 2008, Fountain is Irelands largest dedicated life science venture capital fund with more than 300 million under management.
Fountain invests in entrepreneurs and companies with disruptive technologies or products that have a clear pharmacoeconomic benefit and a defined pathway to commercialisation, value enhancement and exit. Fountain typically leads or co-leads its investments and has sourced private and public deals from start-ups, corporate spin-outs and turnaround situations. The three principals at Fountain Healthcare Partners Fund III, Manus Rogan, Aidan King and Ena Prosser brings to investees over 70 years of collective experience in the pharmaceutical industry, corporate venture capital and VC across multiple investment and market cycles.
For more information please visit: www.fh-partners.com
About Kyowa Kirin
Kyowa Kirin commits to innovative drug discovery driven by state-of-the-art technologies. The company focuses on creating new values in the four therapeutic areas: nephrology, oncology, immunology/allergy and neurology. Under the Kyowa Kirin brand, the employees from 40 group companies across North America, EMEA, and Asia/Oceania unite to champion the interests of patients and their caregivers in discovering solutions wherever there are unmet medical needs.
You can learn more about the business of Kyowa Kirin at: https://www.kyowakirin.com
Contacts
Manus Rogan | Managing Partner
T: +353 1 5225111
Manus.Rogan@fh-partners.com
Jonathan Neilan | FTI Consulting
jonathan.neilan@fticonsulting.com
Patrick Berkery | FTI Consulting
patrick.berkery@fticonsulting.com
T: +353 86 231 4135 or +353 86 602 5988
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