Paris-based venture capital firm Sofinnova Partners has closed its latest flagship vehicle, Fund XI, at €650 million, well above its initial target and reinforcing its position as one of Europe’s most influential life-sciences investors. Backing came from a global roster of institutional investors including sovereign wealth funds, pharmaceutical giants, insurers, foundations and family offices.

Antoine Papiernik, Chairman and Managing Partner, said the fund gives Sofinnova “the firepower to double down on early-stage opportunities,” adding that the firm’s science-driven and collaborative model continues to resonate with global LPs.

The new fund will target early-stage biopharma and MedTech ventures across Europe and North America, focusing on areas with significant unmet clinical needs. It expands Sofinnova’s total assets under management past €4 billion and contributes to more than €1.5 billion raised across the platform in the past year alone.

The announcement lands during an active year for European life sciences. Recent funding rounds included France’s Adcytherix raising €105 million for its antibody-drug-conjugate therapy, Sweden’s Cellcolabs securing €10.3 million for stem-cell manufacturing and Switzerland’s arcoris bio closing €6.7 million to advance biomarker detection. The combined €121 million raised across these smaller rounds highlights the scale difference between seed activity and Sofinnova’s institutional-level firepower.

For the industry, the implications are clear. Deep-tech life-sciences investment is not slowing down, even in a turbulent macro environment. Specialist funds with strong scientific validation pipelines are attracting capital faster than generalist players. And for emerging biotech and MedTech founders, Sofinnova’s raise signals renewed confidence in transformative research.

Mark Andrews of the British Business Bank said the €30 million UK commitment aims to strengthen the country’s life-sciences ecosystem by expanding access to growth-stage capital. Christine Hockley added that deeper funding pools are essential to helping high-potential companies scale from research to commercial maturity.

The successful close of Fund XI cements Sofinnova’s role as a cornerstone investor in early-stage healthcare innovation, with the capacity to accelerate breakthroughs that can shape the next era of medicine and MedTech.