Sofinnova History and Evolution as a VC

Sofinnova has a rich history that spans over four decades, with its roots dating back to 1971.

The firm was founded by a group of scientists and entrepreneurs who shared a passion for innovation and a desire to bring cutting-edge technologies to the market.

Sofinnova's early years were marked by a focus on biotechnology, with the firm investing in companies that were working on groundbreaking treatments for diseases.

One of Sofinnova's earliest investments was in a company that developed a revolutionary new treatment for leukemia, which went on to save countless lives.

Today, Sofinnova continues to be a leader in the venture capital industry, with a portfolio of over 500 companies across multiple sectors.

Suggestion: Is Bain Capital a Private Equity Firm

Sofinnova was founded in 1972 with the backing of several French financial institutions, making it the first "American style" venture capital firm in France. This marked the beginning of Sofinnova's presence in the European market.

In its early years, Sofinnova SA had a board member in Peter Brooke, the founder of TA Associates. Sofinnova SA owned Sofinnova Partners in Paris from 1972 until 1997. Sofinnova's US affiliate, Sofinnova, Inc (Sofinnova Ventures), was launched in 1974, making it the first European venture company to enter the US market.

A unique perspective: First Republic Bank San Francisco Bay Area

Here's a brief timeline of Sofinnova's key milestones:

In 1972, Sofinnova was founded with the backing of several French financial institutions, making it the first "American style" venture capital firm in France. This marked a significant milestone in the history of venture capital in Europe.

Peter Brooke, the founder of TA Associates, was a board member of Sofinnova SA in its early years. This connection highlights the network and partnerships that were forming in the venture capital industry during this time.

Sofinnova SA quickly established a presence in the European market through the formation of Sofinnova Partners in Paris. Sofinnova SA owned this firm from 1972 until 1997.

Sofinnova became the first European venture company to enter the US market in 1974, launching its US affiliate, Sofinnova, Inc (Sofinnova Ventures). This move marked a significant expansion of Sofinnova's operations.

Jean Deleage, a co-founder of Sofinnova, was appointed the head of the US operation. He would later co-found US venture firm Burr, Egan, Deleage & Co.

Here's a brief timeline of Sofinnova's founding and early years:

In the early 1980s, Sofinnova experienced significant growth and expansion. Sofinnova completed an initial public offering with a listing on the Paris Stock Exchange in 1985.

This move marked a major milestone for the company. The funds raised from the IPO enabled Sofinnova to further invest in new ventures.

Alain Azan took over management of Sofinnova Ventures in 1987, relocating to San Francisco. He replaced Jean-Bernard Schmidt, who became Chairman of Sofinnova and held the position through 2007.

Sofinnova Ventures initially focused on investing in European companies expanding in the US, but later shifted its focus to domestic US companies. This strategic pivot allowed the company to tap into new opportunities.

In 1989, Sofinnova Partners completed fundraising for Sofinnova Capital, its first private equity fund in France. The fund received €38M in investor commitments and made notable investments in companies like Genset Corporation and Cerep.

For another approach, see: What Is Y Combinator Company

In the 1990s, Sofinnova underwent a significant reorganization that would shape its future.

The company delisted itself from the Paris exchange in 1993 to raise capital privately through traditional private equity funds.

This move allowed Sofinnova to gain more control over its finances and make strategic decisions without external pressures.

By 1997, Sofinnova Ventures had raised three venture funds totaling $57M, and Sofinnova Partners had secured €85M in commitments.

The reorganization that year also created two separate management companies, one for Sofinnova Ventures in the US and one for Sofinnova Partners in Europe.

A management buyout followed, resulting in each management company being solely owned by its respective management teams.

This reorganization marked a significant turning point for Sofinnova, allowing it to focus on its core strengths and expand its reach globally.

A different take: Venture Capital Funds Los Angeles

In the 2000s, Sofinnova Ventures made a significant shift towards Life Science, hiring Jim Healy, MD, PhD in 2000 to rebuild the LS brand with a focus on clinical stage drug development companies.

This marked a turning point for Sofinnova Ventures, as they began to emphasize Life Science investments. By 2007, they had raised SVP VII, a fund that was overwhelmingly focused on Life Science, with 80%+ of its investments in this area.

Sofinnova Ventures continued to expand its Life Science portfolio, eventually raising SVP VIII in 2011, which was exclusively focused on Life Science. This move reflected the firm's growing commitment to this sector.

Jim Healy's hiring in 2000 was a key factor in Sofinnova Ventures' transition to Life Science. He worked alongside Mike Powell, PhD to rebuild the LS brand and drive the firm's growth in this area.

In 2006, Sofinnova Ventures and Sofinnova Partners first sponsored the Sofinnova Biopharm Partnering Conference in Japan, headed up by Sofinnova's Goro Takeda. This conference would go on to become one of the largest biopartnering meetings in Japan.

Here are some key milestones in Sofinnova Ventures' transition to Life Science:

Sofinnova Investments has a diverse portfolio with a focus on growth sectors.

Life Sciences is the sector with the most investments, with 96 companies receiving funding.

Sofinnova Investments has also invested in companies that have gone public, including BioAge Labs, which had an IPO on September 26, 2024, and was first invested in on February 13, 2024.

Here are some key statistics on Sofinnova Investments' public company portfolio:

Sofinnova Investments generally invests in established companies, with a strong preference for Series A investments, accounting for 57 of their investments.

The majority of their investments are in Series A, which is a significant milestone for startups, indicating a solid business plan and traction in the market.

Series B investments come in second, with 40 of their investments, suggesting that Sofinnova is willing to provide additional funding to companies that have already demonstrated growth and potential.

Seed investments, on the other hand, are relatively rare for Sofinnova, with only 3 investments in this stage, indicating that they tend to focus on companies that are already showing promise.

Here is a breakdown of Sofinnova's investment stages:

Countries with high returns on investments include Norway, which has a 7% annual return on its sovereign wealth fund, and Singapore, which has a 5% annual return on its government bonds.

Norway's high returns are due in part to its oil reserves, which are expected to last for decades.

Singapore's stable economy and low corruption levels also make it an attractive destination for investors.

The country's government has implemented policies to encourage foreign investment, such as a favorable tax regime and a streamlined regulatory environment.

In contrast, some countries with low returns on investments include Argentina, where inflation has been a major concern, and Venezuela, where economic instability has led to a decline in investor confidence.

Argentina's high inflation rate has made it difficult for investors to earn a decent return on their investments.

On a similar theme: Sequoia Capital Investments

Sofinnova Investments has a diverse portfolio, investing in various sectors to cater to different needs.

The Life Sciences sector is the largest area of investment for Sofinnova, with a total of 96 investments.

High Tech is another significant sector, with 20 investments under its belt.

Sustainability Tech and Healthcare are also key areas of focus, with 12 and 11 investments respectively.

Enterprise Applications and Others round out the list, with 9 and 44 investments respectively.

Here's a breakdown of Sofinnova's investments by sector:

Sofinnova, a leading biotechnology investment firm, is seeking a VC Principal with an M.D. or Ph.D. to join their team in Menlo Park, CA.

The firm manages $2B in AUM across distinct venture and public equity funds, investing in life sciences industries with a focus on biotechnology and therapeutics.

To qualify, you must be a graduate of a top university with a strong academic record and an advanced scientific degree from a top university.

A solid working knowledge of Microsoft Excel and financial modeling skills are also required, as well as 5+ years of non-academic work experience in sell-side equity research, consulting, venture capital, investment banking, or a biotech/pharma company.

Take a look at this: Wisconsin Investment Partners

The VC Principal will track and monitor the venture portfolio, source transactions, and perform due diligence, among other responsibilities.

The ideal candidate will have strong scientific and clinical acumen, as well as passion, integrity, and a strong work ethic.

The environment is dynamic, intellectual, collaborative, and merit-based, and the firm is looking for thoughtful, talented investors with high integrity and ownership of their work.

Sofinnova Investments has had the opportunity to co-invest with 739 other investors over the past 26 years, including funds and angels.

These co-investors have made a significant impact on the company's portfolio, with 276 investors entering a company alongside Sofinnova Investments.

Some notable co-investors include RA Capital Management, which has co-invested with Sofinnova Investments in 11 companies.

Orbimed and Novo Holdings have also co-invested with Sofinnova Investments in several companies, with Orbimed having invested before Sofinnova Investments in 7 companies and Novo Holdings in 6 companies.

Rock Springs Capital, RA Capital Management, and Venrock are among the top investors who have co-invested after Sofinnova Investments, with Rock Springs Capital co-investing in 7 companies and RA Capital Management in 6 companies.

Here's a breakdown of the top co-investors:

Sofinnova has a long history of successful fundraising, with its most recent effort closing at €108M for the Sofinnova Telethon Fund. This fund focuses on early-stage investments in gene and cell therapies.

The firm's flagship fund, Sofinnova Capital III, invested in notable companies like Innate, Maximiles, and NovusPharma, with a total amount of €121M. Sofinnova has raised several venture capital funds over the years.

Here's a list of some of Sofinnova's notable funds, including the year they were raised and the amount of capital they raised:

France, UK, Italy - a hub for finance and operations in the life sciences industry. Sofinnova Partners, a private equity firm, has a presence in these countries, with its headquarters in Paris, France.

Sofinnova Partners is a well-established firm, founded in 1972. It has a significant amount of capital, over €2 billion, to invest in early-stage companies and corporate spin-offs.

The firm has a presence in multiple countries, including France, the UK, and Italy. This allows them to tap into a diverse pool of talent and investment opportunities.

Sofinnova Partners has a strong track record of investment, having financed over 500 companies around the world. This includes companies in industrial biotechnology and life sciences.

Some of the funds managed by Sofinnova Partners include the Sofinnova Telethon Fund, the Sofinnova Crossover I, and the Sofinnova Industrial Biotech I. These funds are unique investment vehicles across the life sciences investment value chain.

Here are some of the key funds managed by Sofinnova Partners:

In the 2010s, Sofinnova Partners made some significant moves to drive growth and innovation.

They started the Green Seed Fund in 2010, which was a new initiative to focus on sustainable investments.

This fund was managed by Joško Bobanović, who brought a wealth of experience to the role.

In 2012, the Green Seed Fund was announced alongside the Sofinnova Capital VII announcement, marking an exciting new chapter for the company.

Sofinnova Ventures also made a spin-out in 2013, creating a new fund called HealthQuest Capital, which focused on providing growth capital to healthcare companies.

Recommended read: New York Angels

This fund was led by General Partner Garheng Kong, who had a clear vision for the future of healthcare investments.

HealthQuest Capital went on to raise its second fund in 2016, at a significant $225M, demonstrating its growing success.

The company also made a major announcement in 2017, closing the first round of Sofinnova Industrial Biotech I at €106 million.

This fund was dedicated to renewable chemistry, and marked a significant investment in the sector, following a series of 9 investments since 2009.

Here's a brief overview of Sofinnova's growth initiatives in the 2010s:

Sofinnova Partners has a significant presence in the private equity market, with over €2 billion of capital under its management.

The firm has a long history of successful fundraising, with its flagship fund, Sofinnova Capital IX, raising €333M in 2019.

Sofinnova Partners has a diverse portfolio of funds, including the Sofinnova Telethon Fund, which specializes in early-stage investments in gene and cell therapies.

The firm has invested in numerous companies over the years, with some notable investments including Innate, Maximiles, and NovusPharma from Sofinnova Capital III (€121M).

Here is a breakdown of Sofinnova Partners' funds:

Sofinnova Partners has also created a platform strategy to include multiple funds alongside its historic Capital Fund, with funds such as the Sofinnova Crossover I and the Sofinnova Industrial Biotech I.

You might like: Biotech Venture Capital Funds

Sofinnova Investments has a diverse portfolio of companies across various stages of growth. One notable aspect of their portfolio is the mix of acquired companies and public companies.

Alimera Sciences was acquired by Sofinnova Investments on July 17, 2024. This acquisition marks a significant milestone in the company's history.

Aiolos Bio, on the other hand, received a Series A investment of $245M from Sofinnova Investments on October 24, 2023. This investment helped the company accelerate its growth.

RayzeBio and Karuna Therapeutics are two other notable companies in Sofinnova Investments' portfolio. RayzeBio received a Series D investment of $168M on August 25, 2022, while Karuna Therapeutics received a Series B investment of $12M on April 1, 2019.

Intriguing read: Venture Capital Investments

Sofinnova Investments has also invested in several public companies. BioAge Labs went public on September 26, 2024, after receiving a Series D investment of $170M on February 13, 2024.

Here's a list of some of the notable companies in Sofinnova Investments' portfolio:

These companies showcase Sofinnova Investments' ability to support companies across various stages of growth and development.