Hadean Ventures announces oversubscribed final close of Hadean Capital II – a fund dedicated to investments in life science start-ups across Europe
- Hadean Capital II closes at EUR 144m, substantially over target of EUR 125m, bringing the total committed capital of Hadean Ventures’ two funds to approx. EUR 230m
- Strong support from existing investors as well as a number of new investors including EIF, KfW Capital and Tesi
- Launched in September 2021, Hadean Capital II has so far invested in six companies
- First portfolio company exit was achieved in 2023, exceeding expectations
Oslo, 21 December 2023. Hadean Ventures announced today the final close of Hadean Capital II at EUR 144m, substantially above target of EUR 125m. The fund will invest in life science start-up companies across Europe with an emphasis on the Nordics and German-speaking countries. The strategy includes pharma, biotech, medtech, diagnostics and digital health. Hadean Capital II was launched in September 2021 and has so far invested in six companies including Alex Therapeutics, Arthex Biotech, Complement Therapeutics, Emergence Therapeutics, Ribbon Biolabs and TargED. The first exit was already successfully achieved with the acquisition of Emergence Therapeutics by Eli Lilly.
Ingrid Teigland Akay, Managing Partner commented: “We are extremely pleased to announce this very successful fundraising in a challenging environment, substantially exceeding our fundraising target. We would like to thank existing and new investors for their trust in our team and strategy, and we look forward to working with start-ups developing break-through medical solutions for tomorrow and beyond.”
Walter Stockinger, Managing Partner, added: “With the new fund we are in an excellent position to leverage on the huge potential that we see in the European life science ecosystem. We are building on our successful strategy for Hadean Capital I, investing in start-up companies in different stages of development and across modalities and indications.”
Key investors in Hadean Capital II shared their comments:
“Saminvest is very excited to be one of the founding investors of Hadean Ventures. We firmly believe that the experienced Hadean Ventures team is well positioned to take advantage of the investment opportunities in companies that solve tomorrow’s health challenges. It enables the access to venture capital and ownership experience for companies in early stages and strengthens the vibrant life science ecosystem in the Nordics,” said Magnus Skåninger CEO at Saminvest.
"Hadean Ventures has exceeded our expectations as our first investment under Investinor's new fund in funds mandate. We are thrilled to be part of the closing of Hadean Capital II, contributing to the growth of the Norwegian and European life science ecosystem. The oversubscription of the fund demonstrates the confidence in Hadean Ventures' investment strategy and their ability to nurture promising start-ups. Together, we aim to drive groundbreaking medical advancements and make a lasting impact in life sciences. We look forward to collaborating with Hadean Ventures and fellow investors to support innovative solutions shaping the future of healthcare,” said Johan Bøe Bjørkevoll, Investment Director -Investinor.
“We are pleased to be a new investor in Hadean Capital II. With Finland as part of Hadean’ core geographical focus, the Finnish life science operators now have a chance to tap into Haden Ventures’ international expertise”, elaborated Tapio Passinen on the reasons for Tesi’s investment commitment.
About Hadean Ventures
Hadean Ventures is a leading European life science fund manager with approx. EUR 230m assets under management. The funds are backed by leading private and institutional European and US-based investors. Hadean Ventures invests in life science companies developing breakthrough innovative solutions for unmet medical need. Hadean Ventures has offices in Oslo and Stockholm and collaborates with world-class academic institutions and start-up hubs across the region.
Contact
Ingrid Beyer, Head of IR and Business Development
ingrid.beyer@hadeanventures.com
+47 905 94 882
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