EIF supports Netherlands based LIFE SCIENCES venture capital fund

The European investment Fund (EIF) has signed a commitment to invest up to EUR 20 million in the Netherlands based "Life Sciences Partners II (LSP II)" venture capital fund. This represents 11% of the total amount of this important fund of a target size of EUR 135 million. LSP II has been created to invest in early and later stage companies in the Human life Sciences sector, and focuses specifically biotechnology, medical devices and e-health/info medics segments.

Life Science companies are highly innovative, technology-driven and knowledge based. As such, LSP II will contribute to further European competitiveness in key technologies ; its investment strategy covers the whole European Union.

The EIF is a financial institution based in Luxembourg, established in 1994 as a joint venture between the European Investment Bank (EIB), the European Union and European banks or financial institutions. The EIB has recently become the majority shareholder and has confirmed the role of the EIF as the venture capital arm of the EIB Group. With an investment capacity of over EUR 3 billion until 2003, the EIF is now a major player in the European venture capital market. Its investment strategy focuses on the promotion of European technology.