The Crossover I vehicle has been backed by CNP Assurances and an unnamed Chinese biopharmaceutical firm, and will target both late-stage private and public companies.
VC firm Sofinnova Partners launched a €275m ($340m) fund yesterday with commitments from insurance provider CNP Assurances and an undisclosed China-based biopharmaceutical company.
Limited partners also include French state-owned investment bank BPIFrance, which put in cash directly and through the Investment for the Future program, and Danish government-owned investment vehicle, the Danish Growth Fund.
The Crossover Fund I’s investors also feature family offices, such as Fidim and KCK, and other unnamed entities.
Sofinnova had originally targeted a €250m close for…
