European VC firm Kurma sets its sights on ?150 million fund, its biggest ever

Parisian venture capital firm Kurma Partners is raising the bar. It?had set its sights on its biggest-ever fund?? the Kurma Biofund III?? with a target of??150 million (about $170 million), backed by marquee investors including Servier, Bpifrance and Idinvest, it said last week.

The new fund target is a significant step up from its preceding funds (Kurma Biofund I, II), which targeted between ?50 million and ?55 million.

Kurma Biofund II, which began its investment period in 2013, largely focused on rare diseases and has invested in 12 companies, four of which Kurma co-created. The third Biofund is expected to include a portfolio of 12-15 companies, of which four to five will be founded by Kurma, the company said.