Health for Life Capital Fund reaches €73.5 million (US$100m)
Paris and Marcq-en-Baroeul, France – 7 July 2014 – Seventure Partners, one of Europe’s leaders in financing innovation, today announces that Lesaffre, a French family group that set the global standard for yeasts and other fermentation products, has invested €10 million into its €120 million Health for Life Capital Fund, bringing the total raised current funds to €73.5 million (US$100m).
As a yeast specialist, Lesaffre has been creating baking solutions for years. Its knowledge of fermentation and technology expertise has encouraged the Group to establish a presence and carry out further research in emerging businesses such as human and animal nutrition, health, biofuels and crop protection.
Antoine Baule, CEO of Lesaffre, said “We are delighted to invest in the Health for Life Capital Fund alongside Danone, Tereos and Tornier. It is the first time that Lesaffre has invested in an external fund. We decided to do so because we are passionate about innovation and confident in the capacity of finding new solutions to improve nutrition and health. Our investment represents a shared goal with Seventure, seeking to identify new trends and enhance the nutrition market.”
The Health for Life Capital Fund aims to support innovative, high-growth entrepreneurial ventures. Geographically, its focus is primarily in Europe, but it also extends to North America and Asia. Investments are being made in the areas of healthcare, biotechnology and pharmaceuticals, connected health and medtech, nutrition and in the emerging game-changing field of microbiome.
Since its launch at the end of 2013, the fund has invested in Enterome Bioscience to pursue further clinical developments and prepare the future launch of the company’s first product in microbiome-related diseases. The fund has also invested in LNC (Laboratoires Nutrition & Cardiometabolisme) enabling the company to complete clinical development of its two main products in pre-diabetes and bariatric surgery, and to initiate a third product in obesity-related infertility before an exit event occurs.
Isabelle de Cremoux, President and Managing Partner at Seventure Partners who led the fundraising, said “Seventure Partners is a world leader in financing innovations in the converging domains of medicine and food. We are committed to the revolution that is currently taking place thanks to microbiome and its applications, spanning the food, pharmaceutical, medical technologies and diagnostics industries. Having attracted yet another prestigious investor and leading innovator in this field alongside with Danone, Tereos, Tornier is an important endorsement.”
Health for Life Capital has already been approached by numerous pharmaceutical laboratories and diagnostics companies as well as financial investors therefore Seventure Partners is anticipating new future closings in the coming months.
Notes to Editors
About Seventure Partners
Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure has invested in innovative businesses with high growth potential in digital technologies in France and Germany and in the life sciences field across Europe, with currently over €500m in assets under management.
In life sciences, the four areas of focus include biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology and cleantech, and the microbiome, lifestyle healthcare, personalised medicine and nutrition and food. Seventure Partners also considers investments in the field of diagnostics, biomarkers, drug delivery systems, and services. Investments that can range between €500k and €10m per round, or up to €20m per company, from early to late stage.
Seventure is a subsidiary of Natixis, the corporate investment management and financial services arm of Groupe BPCE, the second-largest French bank.
For more information, please visit: www.seventure.com
About Seventure Partners’ Health for Life Capital Fund
In December 2013, Seventure launched its ‘Health for Life Capital’ Fund, the first venture capital fund focused on investment in high growth potential companies that provide innovative technologies or have the potential for disruptive innovation in the wider healthcare and the microbiome and nutrition space. Europe is the primary focus of the fund, but it will expand internationally if strategic opportunities arise. The €120m fund attracted strategic investments from prestigious organisations including Danone, Tereos, Tornier, Lesaffre as well as entrepreneurs and financial institutions and is managed by Seventure’s life sciences team.
Lesaffre set the global standard for yeast and other fermentation products. The company designs, manufactures and markets solutions that promote baking, nutrition, health and protection of living organisms. Family group founded in 1853, based in northern France, Lesaffre is committed to providing the best in each of its business areas: baking, nutrition and health, flavors and fermentation. Lesaffre's development is driven by innovation. In close collaboration with its clients and partners, Lesaffre innovates with confidence in order to feed the world and protect the planet more effectively.
In 2013, Lesaffre earned estimated revenues of 1.56 billion euros. Its products are sold in more than 180 countries, and it employs 7,700 people through 70 subsidiaries located in some 40 countries.
Find out more: www.lesaffre.com
Issued for and on behalf of Seventure.
To contact the Seventure team at Instinctif Partners, email email@example.com
Melanie Toyne-SewellManaging Partner