Buenavista Equity Partners, a private equity group specialising in the lower/mid-market segment in Spain, announced today the launch of its new healthcare fund, BV Healthcare Growth Innvierte I. The fund has reached its original target size and completed its first closing at €100 million. Its maximum size (hard cap) is set at €150 million.
Columbus Venture Partners is supporting the management of this fund through a joint venture whereby both firms combine their investment experience in Venture Capital, Private Equity and Healthcare. To this end, a specific fund management firm has been created, owned by Buenavista,with a majority stake, and Columbus. Both companies combined sum up a total of 45 investments in the sector and are supported by professional healthcare experts, with an extensive international network. In addition, they have a successful and proven track record in the healthcare sector, with net returns (IRR) of over 30%.
Furthermore, this fund is backed by the Centre for Technological Development and Innovation (CDTI, in Spanish). This public institution has committed up to €58 million through its Innvierte Programme, a co-investment instrument for the development of advanced therapies and other innovative drugs.
Boosting Development
This fund focuses on investments in innovative healthcare companies. It will invest in companies with low scientific and technological risk at or very close to commercialisation to support their growth and scalability. Buenavista and Columbus will provide the capital, expertise and global reach necessary to maximise their potential in the next stages of their development.
Carrying on the team's extensive track record in this sector, the fund will focus on pharmaceuticals and biotech products, diagnostic solutions, precision medicine and medical equipment, AI & Big data and digital therapies and diagnostics, industrial production scale-up projects, scientific services (CRO, CDMO) and healthcare services.
The fund seeks to invest in the capital of 10-12 healthcare companies, mostly Spanish, with an investment ticket of up to €15 million per company, responding to the market need for Growth Capital funds for the Healthcare sector. This uniquely positions BV Healthcare Growth Innvierte I to take advantage of the market opportunity.
The fund has already closed its first deal in Syngoi, a Contract Development and Manufacturing Organisation (CDMO) specialising in synthetic DNA for advanced therapies. This technology is crucial for therapeutic applications such as mRNA vaccines, gene therapy and gene editing. Located in Zamudio, Bizkaia, Syngoi uses advanced facilities and a unique platform that streamlines production, decreasing turnaround times and increasing DNA purity compared to traditional methods.
The transaction is part of a capital increase, together with Columbus (founder) and Asahi Kasei Medical (a subsidiary of the Japanese conglomerate specialising in the production of biotherapeutics), intending to significantly expand its production capabilities and support more than 25 concurrent customer projects.
Nuria Osés, partner and head of the Healthcare strategy at Buenavista, said: “We are very excited to announce the launch of this new fund dedicated exclusively to the healthcare sector. Buenavista is entering a new phase of growth, with a strong commitment to a sector where we are already present, and which displays great opportunities. This is not just because of its capacity for expansion, but also due to the growing demand for innovative solutions that require a higher level of investment. We aim to support companies that are addressing some of the main trends in today's society, such as precision and personalised medicine, advanced therapies, the challenges from increased longevity and the presence of chronic diseases. In addition to generating economic value, these companies are committed to having a positive impact on society, offering solutions that improve people's quality of life and well-being.”
Damià Tormo, Managing Partner and co-founder of Columbus Venture Partners, stated “The fund's strategy responds to a profile of healthcare and biotechnology companies that are at a crucial stage of their development, seeking capital to expand their operations and that have scientifically proven and risk-free products. Given the lack of financing by specialised investors for this type of high-growth medical companies in Spain and in the European market, we believe that this fund fills a great gap in an area of great economic and social relevance.”
About Buenavista Equity Partners
Buenavista Equity Partners Capital is an independent asset manager founded in 1996 that operates in the middle-market segment. It currently manages more than €1 billion through different Private Equity, Infrastructure and Venture Capital vehicles.
About Columbus Venture Partners
Columbus Venture Partners is a Spanish venture capital firm that offers a unique approach to investing in outstanding opportunities in all stages of (bio)pharmaceutical drug development and advanced biopharmaceutical manufacturing technologies. Columbus VP manages over €400 million across four funds and has built an impressive track record with successful divestments in companies such as Viralgen, Askbio, PTS, Sanifit and Recovid, among others. Columbus' professional team combines strong scientific, medical and business expertise with deep knowledge of corporate biotechnology. For more information, please visit www.columbusvp.com
Photo: Damia tormo, Enrique Centelles and Nuria Oses
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