Wellington Partners announces first closing of new life science fund

The new life science fund of Wellington Partners has attracted commitments from investors of € 70 million. With a target size of € 120 million, this new fund is expected to be significantly larger than the previous Wellington Partners III Life Science Fund, which raised € 78 million. The Wellington Partners life science team will focus on investing these funds in innovative companies in the areas of medical devices, diagnostics and biotechnology on a pan-European basis.
 
The new fund has attracted investors from Germany, Switzerland, Austria, Benelux, France, the UK, the US and the Middle East. Among the main investors in Wellington Partners IV Life Science are the European Investment Fund (EIF), LfA Foerderbank Bayern, Austria Wirtschaftsservice GmbH and several large family offices. Despite the challenging financial environment, investors have been convinced by the opportunity to benefit from participation in companies developing highly innovative products in a major growth market as well as by the excellent track record of the Wellington Partners life science investment team.
 
Wellington Partners was an early investor in Swiss-based listed pharma player Actelion. The active portfolio comprises a number of highly promising life science companies, including Symetis, which is currently launching a highly innovative second-generation minimally invasive heart valve.
 
Rainer Strohmenger, General Partner at Wellington Partners, explains: "This first closing of our new, larger fund in a challenging financial environment is a big success. The market environment is highly favorable because a majority of investors are currently neglecting this segment despite the fact that the life science market will be one of the most important growth drivers in the coming years. This has led to a scarcity of capital, moderate entry valuations and hence the opportunity to generate outstanding returns for those investors who are willing to act anti-cyclically. This strategy has been pursued by Wellington Partners highly successfully for many years."