EdRIP's exit mantra
10 years on, Rothschild's EdRIP still exit driven with new life science fund
As Edmond de Rothschild Investment Partners begins its second decade, it is moving to increase its footprint outside of Europe. With 18 life science exits since its inception in 2002, EdRIP believes its ability to consistently provide liquidity will allow the firm to expand a fledgling international LP base and the scope of its investments in Asia and the U.S.
EdRIP is the private equity arm of La Compagnie Financiere Edmond de Rothschild Banque, which takes a 10% stake in all EdRIP investments.
The firm began returning money to investors in 2004 and has had at least one exit every year, including two liquidity events during the 2008-09 economic crisis.
EdRIP's story as a life science VC is one of increasing scale, with fund sizes growing from €27 million ($25.4 million) for BioDiscovery 1 in 2000 to a targeted €200 million ($267.6 million) for its current fund, BioDiscovery 4.
Last July, EdRIP raised €125 million ($153.6 million) in the first close of the fund. It is currently at €169 million ($226.2 million), according to President Pierre-Michel Passy.
The balance will come out of a €500 million ($672.2 million) fundraising planned over the next four years, the