European Investment Fund invests in Fountain Healthcare Partners Fund 1

EIF announces an investment in Fountain Healthcare Partners Fund 1, a Dublin-based early stage venture capital fund.

First closing was completed at EUR 75m with a final target at around EUR 100m.

Fountain Healthcare Partners Fund 1 is a life science fund which will invest in small and medium-sized Irish companies (SME) which have focussed product development programmes and a clear pathway to commercialisation. The fund’s sector focus will cover specialty pharma, medical devices, biotechnology and diagnostics. The Fund will invest EUR 0.5m to EUR 7m per company.

This investment was made under the European Commission Competitiveness and Innovation Framework Programme (CIP-GIF1). GIF1 aims to help SMEs with their establishment or early stages of development.