Belgium-based Capricorn Venture Partners has launched its Capricorn Health-tech Fund (CHF) and expanded its team with four senior hires.
Capricorn is aiming to raise €100-120m for the CHF fund that will focus on mid stage human health technology investments in Europe. Investment activity will start after the fund’s first closing which is planned to take place at €30m.
Edwin Moses, chief executive officer and chairman of Ablynx, will become chairman of the new fund. Moses has been a board member of over 15 European life science companies during his career.
Moses said: “The bulk of innovation will continue to originate from small and private companies. M&A activity in the health-technology sector is strong and expected to increase as major pharma companies are deploying open innovation approaches to fill their dwindling pipelines.”
In addition to Moses, Capricorn has hired Dr Frank Bulens, Ir Els Hubloux and Dr Els Vanheusden to help the fund raising and managing process.
CHF will be Capricorn’s fourth consecutive venture capital fund. The firm is currently investing out of its €112m cleantech fund.