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Sofinnova Completes $375M Fund Raise

Wednesday, November 15, 2006 7:00:00 AM PDT | VentureDeal Staff

SAN FRANCISCO, CA -- Sofinnova Ventures, an early stage venture capital firm, has closed its seventh fund in the amount of $375 million.  The firm said their original target was $300 million which was increased due to strong demand by limited partners.

Sofinnova invests in early stage life science and IT companies, and intends to allocate two thirds of the fund to life science companies and one third to wireless IT companies.

Two thirds of the funds investors are in the US and one third are in Europe, reflecting Sofinnova's ties to France.

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