EQT Life Sciences

LSP closes EUR 1 billion flagship fund LSP 7 to invest in life sciences companies

LSP announced today that it has raised over EUR 1 billion for its flagship fund LSP 7. This constitutes the final close of the largest life sciences venture capital fund ever raised in Europe to date. The fund aims to invest in companies developing new drug therapies and medical technologies, to help ensure that their scientific innovations benefit patients.

In November of last year, LSP announced that it had raised EUR 850 million for LSP 7 and that it is intending to join forces with EQT, one of the largest European and top-ten global private equity firms. ‘’Just one day after the announcement of our partnership with EQT, a large investor decided to pursue a EUR 150 million investment in LSP 7, bringing the fund straight to the maximum size (hard cap) of EUR 1 billion. This investment immediately validates a key rationale for joining EQT: with EQT, we expect that we will be able to raise large funds much faster, serving the life sciences in Europe even better than before’’ says René Kuijten, managing partner of LSP and incoming head of EQT Life Sciences.

LSP 7 is, among others, backed by five pharmaceutical companies of which four from Asia and one from the US. The strong support by pharma demonstrates their interest in European life sciences ventures and, in the view of LSP, validates its track record and industry standing. The firm expects to invest LSP 7 in 15-20 companies developing new drug therapies and medical technologies. Until today, four investments have already been completed: Evommune (dermatology and immunology), Egle Therapeutics (oncology and autoimmune diseases), Hotspot (autoimmune diseases, rare diseases and oncology) and an undisclosed radiotherapy company.

As communicated earlier, the transaction with EQT is expected to close in Q1 2022. LSP will then be renamed to EQT Life Sciences.

For more information please contact:
Dr. René Kuijten, Managing Partner of LSP
rkuijten@lspvc.com

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