A large pharmaceutical company was among the LPs as the firm reached the first close of its $190m fifth fund.

Netherlands-based life sciences venture firm LSP has reached an €80m ($100m) first close for its fifth fund, with participation from at least one corporate limited partner.

LSP raised the cash from institutional and private investors from Europe and the US, in addition to a large pharmaceutical company that contributed to its $125m fourth fund. The corporate in question is likely to be either Pfizer or GlaxoSmithKline.

The firm has set a target of almost $190m for LSP 5, and will…