- Investing in early stage breakthrough opportunities across life sciences
- Led by experienced former Genextra team
- Supported by anchor investors European Investment Fund (EIF), CDP Venture Capital SGR (CDP VC) and Micheli Associati, as well as a broad institutional base including UniCredit, Quaestio Capital, Banco BPM, Inarcassa, ENPAM, Fondazione di Sardegna and Banca Sella Holding
- Launched in December 2022, has so far invested in five companies
- Fundraising to continue to end of Q3 2024
MILAN–(BUSINESS WIRE)–XGEN Venture – a newly formed Venture Capital firm – announces its first fund, XGEN Venture Life Science Fund, with €160 million in subscriptions. With this fund, XGEN Venture will be working alongside talented scientists and entrepreneurs to create and invest in up to 15 companies, delivering impactful solutions to patients through new therapeutics, medical devices, diagnostics and digital health solutions. While taking a global view to scientific innovation, a good portion of XGEN-backed companies will be formed from technologies originated in Italian research institutes.
Launched in December 2022, the fund will continue its fundraising efforts towards a final target of €200 million. It is supported by a strong base of institutional investors including EIF, CDP VC, UniCredit, Quaestio Capital, Banco BPM, Inarcassa, ENPAM, Fondazione di Sardegna and Banca Sella Holding, as well as many prominent family offices, with Micheli Associati, the majority shareholder of Genextra, participating to the launch of the fund as anchor investor together with EIF and CDP VC. XGEN has, so far, invested in five companies including Page Therapeutics and Nouscom, focused on breakthrough therapies to treat cancer, Protembis, improving cardiovascular interventional procedures, TES Pharma, a drug-discovery boutique targeting orphan receptors, and a – soon to be announced – gene-therapy company for rare diseases. The fund promotes best ESG practices within the meaning of SFDR art.8.
XGEN founders and managing partners, Paolo Fundarò, Federica Draghi and Daniele Scarinci have been previously working together building and investing in innovative life science startups for nearly two decades while at Genextra. The three partners were the first in Italy to specialize in life science venture capital investments, successfully investing over €200 million in early stage startups. XGEN’s team also includes eight high profile venture partners that bring extensive operational backgrounds in various areas of the life sciences industry, and three investment professionals. The founding partners, the venture partners and the team members have all invested in the fund, with a total GP commitment of 2.5% of the total fund.
“We are pleased to have reached this ambitious target for our first fund” said Paolo Fundarò, “with a diversified investor base of over 75% institutional and with the participation as anchor investor of the Micheli family – with whom we have worked for the past twenty years at Genextra – we are deeply appreciative of the continued support and trust from our LPs. This new fund will allow us to continue our established strategy of building and growing companies that conduct complex clinical programs for serious health conditions.”
XGEN has been assisted by the law firm ALMA – LED for all legal and regulatory matters.
About XGEN Venture
XGEN Venture is a Milan-based, newly created life science venture capital firm. We work with a group of exceptional scientists and entrepreneurs to translate high level science into solutions for patients. Our company creation strategy identifies and supports the most convincing opportunities to build effective businesses and create value.
Investing in technologies that truly improve severe health conditions is at the core of what XGEN does and is committed to doing so in a responsible and impactful way, promoting best ESG practices within the meaning of SFDR art 8. For more information, please visit www.xgenventure.com .
Contacts
Media and Investor Relations:
Mariagiulia Davide
Analyst
XGEN Venture SGR SpA
+39 02 36515110
[email protected]