At a Glance
- Fund: Kurma BioFund IV
- Size: €215M ($252M)
- Focus: Early-stage European biotechs
- Investors: Institutional LPs, family offices
- Next steps: Deploy capital to portfolio expansion
What happened?
Kurma Partners closed its fourth biotech fund, Kurma Biofund IV, at €215 million ($252 million) to invest in early-stage European life science companies. The oversubscribed fund extends a recent wave of European VC fundraising.
Why does it matter?
European biotech funding remains challenged post-2022 downturn, but Kurma’s hard close signals renewed LP confidence in derisked assets like Phase II/III clinical programmes. Fund targets high-potential companies in oncology, rare diseases and gene/cell therapies, bridging to IPO/M&A exits.
Who’s behind it?
Kurma Partners, a Paris-based VC firm, manages €1B+ across funds. BioFund IV, which is led by Thierry Laugel and Rémi Droller, emphasises therapeutic expertise and hands-on support.
How was it achieved?
Oversubscription from returning LPs (institutions, family offices) including Eurazeo, Australian pharmaceutical company CSL, European Investment Fund (EIF), and Bpifrance reflects strong track record (e.g., successes like Amolyt Pharma; Emergence Therapeutics; Corlieve Therapeutics; and ImCheck). Fund size ~35% larger than Kurma Biofund III, focusing on Series A/B opportunities across Europe.
What’s next?
Kurma will deploy capital over 4-5 years into approximately 20 companies, emphasising clinical-stage assets with global potential. Expects synergies with existing portfolio and co-investors.