According to the announcements sent by the Ministry of the Economy and the Sea and by Bionova Capital, founder of Biovance Capital Partners that will manage the new EIF-backed fund, the instrument “selected by the Portugal Tech program and InvestEU aims to achieve a volume of 60 million euros”, including Capital is from private institutional investors, including Caixa Capital, of the Caixa Geral de Depósitos Group.
At the presentation ceremony held at the Ministry of the Economy and the Sea, Minister António Costa Silva announced a joint commitment of €35 million by Banco Português de Fomento (BPF), the European Investment Fund (FEI) and the European Commission (EC). ) as principal investors.
According to Bionova Capital, the fund will be managed by a team consisting of a physician and two scientists, who hold doctoral degrees and research positions at leading international institutions such as Harvard Medical School, MIT, and Imperial College, as well as experience in the national and international field. Pharmaceutical companies and venture capital.
Biovance Capital Fund I will invest in 12 companies in the field of biotechnology, “with the aim of supporting the development of innovative medicines for human health, in priority therapeutic areas such as oncology, immunology, neuroscience, among others,” the government details.
This is the sixth and final investment by Portugal Tech, the FEI-BPF partnership launched in 2018 to support the venture capital ecosystem in Portugal.
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Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
