BioMed II, new venture capital fund from “la Caixa” and CDTI
Under the framework of the INNVIERTE program, BioMed II will help companies from the biotech and healthcare sector
“la Caixa” and the Ministry of Economy and Competitiveness Center for Industrial Technological Development (CDTI) have created the new “Caixa Innvierte BioMed II” venture capital fund. Managed by Caixa Capital Risc and framed under the INNVIERTE program, the fund is geared towards new start-ups in Spain from the biotechnology and medical technology sector to help them cover their funding needs and guide them towards the next step of growth.
BioMed II is endowed with a total of €35 millions and investments will range from a minimum of €500,000 to a maximum of €4.5 millions per company, with the average being €2.5 millions. The fund is expected to reach approximately 14 companies with high potential for growth that specialize in developing diagnostics, therapeutics and medical technology. Other minority investors include the Catalan Institute of Finance (ICF), Catalan pharmaceutical company Laboratorios Leti and VidaCaixa.
INNVIERTE is a program through which the CDTI aims to boost business innovation by investing venture capital in technology-based or innovative companies.
"Caixa Innvierte BioMed II" portfolio of investments
More information is available in the official press release.