In a first for the British Business Bank, firm backs Epidarex’s new fund

Epidarex’s latest fund will give the trans-Atlantic firm the ability to retain larger stakes later into the life cycle of portfolio companies. The fund also marks the first life sciences cornerstone investment from the British Business Bank, as it steps in for the European Investment Fund in a post-Brexit world.

Epidarex Capital closed its oversubscribed third fund, Epidarex Capital III UK, at £102 million ($127.6 million). The British Business Bank was a cornerstone investor in the fund, contributing £50 million, with the remainder coming from LPs such as the University of Edinburgh, University of Manchester, University of Glasgow, University of Aberdeen, Strathclyde Pension Fund and other undisclosed investors...