PE takeout frees up LSP’s team, promises bigger funds

Europe’s largest life sciences VC is set to get even bigger. On the back of raising nearly $1 billion for its seventh fund, LSP is being acquired by private equity firm EQT, setting up the VC to raise even larger funds in the future and freeing up partners to focus on their deals and portfolio companies.

Last week, LSP announced the first close of LSP 7 at €850 million ($982.9 million), making it the largest European life sciences VC fund to date. It’s the second consecutive LSP vehicle to hold that mantle, after LSP 6 closed in 2020 at €550 million...