European life sciences dealmakers have had it tough over the years, having to compete with their US counterparts to get quality time in front of LPs.
The recent fundraise of Dutch-based life sciences firm Forbion, however, suggests that the tide may be turning.
Forbion closed its new flagship fund, Forbion IV, on €360m at the start of October. The vehicle was heavily oversubscribed, surpassing its €250m target with ease and almost doubling the €183m it raised for Forbion III in 2016.
Forbion’s track record will have had something to do with the popularity of the fund (Forbion III has already delivered four exits) but LPs are also recognising that Europe offers good value relative to a US life sciences market where competition and multiples are sky high.
Other European life sciences managers will be hoping for similar support.