Alantra’s Strategic Partner, Asabys Partners, Surpasses Target with €180mn Fund Close

• Asabys closed its second fund, SAHII II, at €180mn, surpassing the initial target of €150mn, with backing from major institutional investors and expanding its focus globally.
• SAHII II will invest in 12 to 15 companies in biopharma, medical devices, and digital health, targeting innovative solutions for unmet medical needs, with five investments already made since early 2023.
• Asabys forms part of Alantra’s pan-European Venture Capital strategy, which also includes cybersecurity fund 33N and energy transition fund Klima.

Asabys Partners, a pan-European VC firm focused on investments in the life sciences and healthcare sectors, in which Alantra holds a 35%-stake, has announced the final close of its second fund, Sabadell Asabys Health Innovation Investments II (SAHII II), with total commitments of €180mn ($200mn), surpassing its initial target of €150mn.

SAHII II plans to invest in 12 to 15 companies, aligning with Asabys’ core strategy of backing biopharma, medical device, and digital health companies that are developing innovative solutions for unmet medical needs, based on solid scientific evidence and clear patient benefit. The fund attracted new U.S. and international investors and is supported by Banco Sabadell, the European Investment Fund, FondICO Global, the Center for Technological Development and Innovation (CDTI), and the Catalan Institute of Finance, among others.

The first close of the SAHII II fund was announced in January 2023, and since then, it has already invested in five companies: deepull, Orikine Bio, Gradient Denervation Technologies, ALLOX, and Augustine Therapeutics.

Asabys is a strategic partnership within Alantra’s highly specialized pan-European Venture Capital (VC) strategy, which has over €400mn in Assets under Management (AuM). In addition to Asabys, the strategy also includes 33N Ventures and its cybersecurity fund 33N, which is on track to reach its €150mn target size and invests in cybersecurity and infrastructure software companies across Europe, Israel, and the US, as well as Klima Energy Transition Fund, a €210mn VC fund which takes minority stakes in high-growth companies focused on energy transition.

Josep Sanfeliu, founding partner and manager of Asabys, said: “We value the trust of our investors, both new and existing, who have supported this second fund and share our commitment to advancing global innovation in life sciences and emerging scientific developments in AI, biology, and new materials. Our team’s experience and strong track record since our founding in 2018 position us well to continue executing our investment strategy.”

Clara Campàs, founding partner and manager of Asabys, added: “The successful and oversubscribed close of SAHII II enables us to deepen our investments in Spain’s life sciences ecosystem, while expanding strategically into Europe and other global markets. This new fund will allow us to support highly differentiated, science- and technology-driven companies that are developing cutting-edge products with real patient benefits.”

Since its founding in 2018, Asabys has raised nearly €300mn in AuM and invested in 17 companies, achieving three successful exits to date. The Firm’s team is composed of 11 professionals with deep scientific, technical, and investment expertise, complemented by a network of venture capital partners and advisors.