Novalis Biotech Closes €25 Million Biotech Acceleration Fund
Jun 29, 2021
GHENT, Belgium--(BUSINESS WIRE)--Jun 30, 2021--
Novalis Biotech, an early-stage venture capital investor in technologies aimed at revolutionizing healthcare, announced today the closing of its €25 million second fund, the Novalis Biotech Acceleration Fund. Both new and returning investors have participated in the fundraising. The second fund investor base includes institutional investors, such as Participatie Maatschappij Vlaanderen (PMV), family offices, as well as HNWIs.
The Biotech Acceleration Fund will continue to invest in start-up and scale-up companies that are transforming healthcare through “enabling technologies”. Examples of these technologies are genomics, bioinformatics, drug research or manufacturing tools, diagnostics and personalized medicine. Investments will be split between early-stage incubation projects and later stage acceleration projects. So far, investments have been made in the enabling technologies being developed by Grapheal and RheaVita. Novalis will continue leveraging its strong network in Benelux, and plans to further extend its investments across Western Europe and the U.S.
Co-founder Wim Van Criekinge commented: “Now more than ever there is huge interest in the ability for innovative technology to help provide a response to our growing healthcare needs. We believe the enabling technologies we identify and support early in their development will meet these growing needs.
“Our success from Fund 1 has been rewarded with the commitment from investors to significantly increase the size of the Biotech Acceleration Fund and provide the flexibility for larger individual investments when needed. We’d like to thank our returning and new investors for their support and shared vision,” added co-founderJan Van den Berghe.
Kjell Mortier, fund manager of Novalis II added: “Our investment strategy creates a unique and growing ecosystem, providing hands-on support and the strong scientific and business foundations needed to enable companies to grow and succeed. We also welcome Jaroslav Belotserkovsky to the team who brings a wealth of experience in life science and innovation, in addition to an expansion of our international footprint.”
Jan Alexander, Head of Fund Investments at PMV added: “With their first fund, Novalis has proven that they can create value with their hands-on entrepreneurial style and deep technological knowledge. We are convinced that, with the Novalis Biotech Acceleration Fund, they will continue to support innovation and valorization of technology in the entrepreneurial ecosystem of the Flemish region.”
Novalis invests early and focuses on capital-light ideas, where small investments can create significant value using software, IP, tools, and other enabling technologies that can transform healthcare. Leveraging extensive networks, Novalis has a proven track record in translating innovation into successful companies.
Novalis Fund 1 was founded in September 2018 and totalled €4 million which was deployed into eight companies, mostly in the Benelux region. These include BioLizard, Cergentis, Enzyre, Epify, Fertiga, myNEO and OHMX.bio. A first exit was realized with US portfolio company doc.ai, acquired by Sharecare as part of an IPO.
About Novalis Biotech Acceleration
Novalis Biotech (Ghent, Belgium) is an early-stage venture capital investor in technologies that revolutionize healthcare. The company’s core competence lies in digitalization in the life sciences with a focus on capital light “enabling technologies” such as bioinformatics, AI, genomics, personalized medicine, research or manufacturing tools and diagnostics. For more information, please visit www.noval.is.
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CONTACT: Jan Van den Berghe
firstname.lastname@example.orgMike Sinclair (media)
+44 7968 022075