With an eye on ‘underserved’ Nordic biotechs, Eir raises €76M toward first fund

Newly launched Eir Ventures believes the Nordic countries offer an investment opportunity rich in science that has been underserved by VCs. To help fill the gap, the firm has raised the first €76 million ($85.5 million) toward its first fund, which Eir hopes will top out at about €100 million.

Established biopharmas such as Novo Nordisk A/S (CSE:NOVO B; NYSE:NOVO) and H. Lundbeck A/S (CSE:LUN) as well as research organizations such as medical university Karolinska Institute are emblematic of the region’s scientific strengths, according to Stephan Christgau, one of Eir’s three managing partners...