Sofinnova Partners, a European life sciences venture capital firm with offices in Paris, London, and Milan, has closed its latest flagship fund, Sofinnova Capital XI, at €650 million ($750 million), significantly surpassing its initial target. The fund is intended to support early-stage biopharmaceutical and medical technology companies addressing urgent unmet clinical needs across Europe and North America.

Sofinnova Capital XI builds on the firm’s multi-strategy platform model and the experience of its partners, including Maina Bhaman, Anta Gkelou, Karl Naegler, Antoine Papiernik, Henrijette Richter, and Graziano Seghezzi. The fund’s structure allows it to participate in both initial and follow-on financing rounds for promising companies at the cutting edge of science and technology.

The fundraising attracted strong backing from a global base of institutional investors. Among them were sovereign wealth funds, leading pharmaceutical companies, insurance companies, foundations, and family offices. Investors came from Europe, North America, Asia, and the Middle East, with both returning and new top-tier limited partners joining. This level of support reflects enduring confidence in Sofinnova’s disciplined investment strategy and long-standing track record in life sciences venture capital.

Antoine Papiernik, managing partner and chairman of Sofinnova Partners, said: “This fundraising marks a pivotal moment for Sofinnova. It gives us the firepower to double down on early-stage opportunities and reinforces our uniquely collaborative, science-driven investment approach. We’re excited to continue backing visionary entrepreneurs and advancing the next wave of breakthroughs in science and medicine to bring them to patients worldwide.”

He added: “Achieving this milestone in today’s volatile fundraising environment speaks to the strength of our model and the confidence our investors continue to place in us.”

Sofinnova Capital XI has already started deploying capital, making initial investments in a selection of portfolio companies. The fund will continue to support early-stage biotech and medtech ventures, providing both seed and follow-on funding to help promising innovations advance from research to clinical development.

With this close, total capital raised across Sofinnova’s platform over the past year has reached €1.5 billion, highlighting the firm’s continued role in driving early-stage healthcare innovation. The fund underscores Sofinnova’s focus on supporting companies that tackle critical medical challenges while contributing to growth in the European and global life sciences ecosystem.