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Apollo takes stake in life sciences VC firm Sofinnova Partners

Wednesday, May 18, 2022

Laxman Pai, Opalesque Asia:

US private equity giant Apollo Global Management is taking a minority stake and partnering with European venture capital firm Sofinnova Partners investment funds that concentrate on European life sciences investments.

According to sources, the US buyout giant is taking a 20% stake in the Paris-based business. It plans to provide up to €1bn of additional capital for further growth.

Sofinnova is the largest independent European venture capital firm in life sciences, specializing in healthcare and sustainability, with over €2.5bn of total assets under management across its platform of investment strategies.

As part of the deal, Sofinnova will also gain access to Apollo's global investment platform spanning credit, equities, real estate, and other asset classes, as well as its far-reaching networks and capital markets expertise. For Apollo, the deal with Sofinnova will increase its foothold in life sciences.

"By bringing together the broader Apollo platform with best-in-class partners, Apollo can maintain its disciplined investment approach while leveraging new sector expertise across its equity, hybrid, and yield businesses, including in accretive new product development," said a press release.

Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said: "This strategic partnership will enable Sofinnova to double down on what it does best: support innovation and build companies through long-term relationsh......................

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