28.10.2021 - Life science

The Venture Centre of Excellence ready to invest EUR 1.7 billion

The European Investment Fund, EIT Health, and EIT Health France have announced that the Venture Centre of Excellence (VCoE) would make EUR 1.7 billion available to support investment in life sciences in Europe.

Since launching in 2020, the VCoE has secured the support of the European Commission in the form of EUR 150m anchor investment into the 15-year program and welcomes newly selected VC funds and corporate members. Now fully operational, vetted European life science start-ups can benefit from exposure and engagement with the VCoE members to seek investment.

The VC funds that have joined to date represent significant investment capabilities, and a balanced sector focus across therapeutics, medtech, and digital health, and a wide range of maturity stages and geographic expertise. The addition of the corporate members further complements the VCoE, boosting the flow of investment directed towards European life science SMEs and Small Mid-Caps by matching fund managers with pharma & medtech corporates and other interested strategic investors. Those joining the VCoE at this stage are mentioned on eit.europa.eu.

The VCoE members will continue to grow over the coming months to reach its full size, namely, 15 – 20 selected VC funds and 15 – 20 corporates, representing a broad portfolio of over 200 SMEs across life sciences including therapeutics, med-tech, digital health, and diagnostics.

Through the VCoE, members join an exclusive community of selected venture capital funds and private investors thereby boosting the flow of investment directed towards European life science start-ups, SMEs, and Small Mid-Caps by matching fund managers with pharma corporates and other interested strategic investors. The VCoE addresses the specific interest of its members to access open innovation, by increasing their co-investment capabilities and opportunities for strategic collaborations in highly innovative European life science start-ups. Programte of  members will be able to share these start-ups themselves, and EIT Health will also vet start-ups from its network to present to members, including thanks to an exclusive artificial intelligence-based platform developed by Skopai, the VCoE’s technical partner.

Source: labsoflatvia.com

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