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ARTICLE | Financial News

Sofinnova Ventures raises $220M

November 3, 2003 8:00 AM UTC

Sofinnova Ventures (San Francisco, Calif.) raised $220 million for its sixth fund. The firm will invest 50/50 in life sciences and information technology companies -- similar to its earlier funds. The fund, which had an initial $100 million close last September, plans to invest in about 20-25 companies. The majority of investments will be in companies based in the U.S., but the fund can invest up to 10% in European companies.

Returning limited partners include AGF; AXA; Financiere Natexis; Glenmede Trust; Swiss Life; VenCap; and Venture Capital Management. New limited partners include ATAPCO; CalSTRS; Credit Suisse Germany; Dow Employees' Pension Plan; NIF; Scottish Widows; Temasek; and Wilshire. Managing directors for the new fund are Alain Azan; Eric Buatois; Jim Healy; and Mike Powell. ...