BioGeneration Ventures €105M fund for early European biotechs

Backed by the likes of Bristol Myers Squibb, Netherlands-based VC shop BioGeneration Ventures (BGV) has raised €105 million ($119 million) for early-stage biotechs working in Europe.

Its fourth fund has been backed by Bristol Myers, as well as European Investment Fund, Industriens Pension, KfW Capital and Schroder Adveq. The sum is not huge, and indeed much less than the $500 million to $1 billion-plus we’ve seen this year from across the U.S., but the VC said it still saw a “strong market interest” that sped up the fund-raise, with the commitments to date “exceeding the fund’s original target.”