French IT and life science investor Auriga Partners has reached a final close of EURO115 million on its second fund Auriga Venture II. The amount raised is almost double its first fund, which was launched in 1998 and closed at EURO65 million. The fund held a second close this summer at EURO110 million see evcj September, page 6.
New investors committed EURO50 million and joined existing investors CDP Sofinov, the European Investment Fund, FPCR, SGAM, AXA, CPR Private Equity and Mitsui. Investors outside France accounted for around 60 per cent of total funds raised.
The new fund will have the same investment strategy as its predecessor. Investments will be equally split between life science and information technology. Seventy-five per cent of the fund will be invested in seed and early stage deals.