Wednesday 19 June 2019

Fountain Healthcare raises €118m

Fountain Healthcare Partners raises €118m for third fund bringing total capital under management to €294m. Pictured (left to right) Fountain Healthcare Partners Aidan King, Dr Manus Rogan and Dr Ena Prosser
Fountain Healthcare Partners raises €118m for third fund bringing total capital under management to €294m. Pictured (left to right) Fountain Healthcare Partners Aidan King, Dr Manus Rogan and Dr Ena Prosser
Ellie Donnelly

Ellie Donnelly

Irish life science venture capital fund, Fountain Healthcare, has raised €118m from investors.

It had targeted raising €100m in what is its third fund.

This brings the total assets under management at the group to €294m.

Those investing in the latest fund include the European Investment Fund, Coolidge Limited –  an investment vehicle of Dermot Desmond – and the Ireland Strategic Investment Fund, as well as AIB.

The fund, Fund III, will primarily focus on investing in specialty pharmaceuticals, biotechnology and medical devices.

Dr Manus Rogan, co-founder and managing partner at Fountain, said: "We will continue to seek opportunities to identify life science investment opportunities with exciting potential both in Ireland and internationally."

"Our ability to deploy significant capital together with our proven track record of helping early stage companies commercialise their potential, positions us a partner of choice for ambitious life science growth companies."

Fountain Healthcare will invest a majority of the capital in Fund III within Europe but expects to also make investments in the US market.

It plans to make a total of 10 to 12 investments in predominantly private life science companies.

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