Jeito Capital Closes Record $1.2 Billion Fund to Accelerate European Biopharma Innovation
核心洞察
Jeito Capital (搜索) successfully closed its second fund at $1.2 billion, marking the largest raise ever achieved by a fully independent European biopharma-focused fund.
The fund has tripled its assets under management to €1.6 billion in five years and will invest in 15-20 clinical-stage companies developing breakthrough therapies for severe diseases.
Jeito II addresses the pharmaceutical industry's patent cliff challenge, with potential $400 billion revenue decline by 2033, by backing innovative smaller biopharma companies.
Jeito Capital (搜索), a global independent private equity fund dedicated to biopharma investment, announced the final closing of its second fund Jeito II at $1.2 billion (above €1 billion), exceeding its target and establishing a new milestone for European biopharma investment. The record fundraising represents the largest raise ever achieved by a fully independent European fund dedicated to biopharma, validating the firm's patient-driven investment strategy.
With this new fund, Jeito has tripled its assets under management to €1.6 billion over five years, following the 2021 closing of fund Jeito I at $630 million (€534 million). The achievement reinforces Jeito's position as a leading fully independent European biopharma investor.
Strategic Investment Focus
Jeito II will continue the strategy established with its predecessor fund, selectively identifying and backing 15 to 20 of the most promising clinical-stage biopharma companies, primarily in Europe. The fund targets companies developing breakthrough therapies for severe diseases with high unmet medical needs while accelerating development paths and future market access.
The new fundraising allows Jeito to increase the average size of future investments in portfolio companies up to €150 million, enabling companies to accelerate through advanced clinical development and unleash their full commercial potential. Jeito II has already actively deployed capital in therapeutic areas with strong demand, including obesity (搜索), reproductive medicine, oncology (搜索), autoimmune and inflammatory diseases (搜索), neurology, and cardio-metabolic diseases (搜索).
Addressing Industry Patent Cliff
The pharmaceutical industry faces a major patent cliff, with loss of exclusivity for several blockbuster drugs potentially leading to a $400 billion decline in pharmaceutical revenues by 2033. Some of these therapeutics currently represent more than 50% of certain pharmaceutical companies' annual sales. This dynamic is expected to accelerate external investment in innovation and reinforces the strategic importance of pharma M&A, with more than 70% of pharma's innovative new drugs now originating from smaller biopharma companies.
Jeito positions itself to address these industry challenges through a proven, patient-driven strategy and unique operating model. The fund selectively invests in high-potential, clinical biopharma companies developing breakthrough therapies for patients with high unmet medical needs and severe diseases.
Proven Track Record and Expertise
Jeito's differentiated methodology and disciplined team approach are reflected in its three exits to date, including the acquisition of EyeBio (搜索) by Merck & Co (搜索) (MSD) for up to $3 billion (upfront payment of $1.3 billion) and Hi-Bio (搜索) by Biogen for up to $1.8 billion (upfront payment of $1.15 billion), with an average holding period of 24 months.
The fund offers portfolio companies advice and guidance from a unique team of 30+ multi-disciplinary experts with senior global experience across drug development, regulatory affairs, patent strategy, commercial operations, manufacturing, and market access. The Jeito team spans the entire drug value chain, leveraging deep pharma expertise to advance breakthrough therapeutic innovations to the highest industry standards.
International Investor Support
The fund attracted top-tier international investors, reflecting strong conviction in Jeito's ability to capitalize on compelling biopharma opportunities. It has been backed by a diversified base of investors across Europe, North America, and Asia, including sovereign and public funds, pharmaceutical and corporate investors, insurance companies, pension funds, family offices, foundations, endowments, and banks.
European Biopharma Ecosystem
Jeito II's record fundraising represents a strong positive signal for the European market. Europe is positioned as one of the world's leading biopharma ecosystems, supported by a deep pool of scientific talents, entrepreneurial excellence, and high-quality innovation. However, many European biopharma companies still face a shortage of long-term growth capital when they need to accelerate, scale, and compete globally.
Dr Rafaèle Tordjman, MD, PhD, Founder and President of Jeito Capital (搜索), stated: "The closing of Jeito II at more than one billion euros represents a very significant milestone for our business. This record fundraising is a collective success, reflecting the dedication and expertise of the entire Jeito team, the talent of its portfolio companies' managers and the trust of our investors."
Sabine Dandiguian, Managing Partner at Jeito Capital (搜索), added: "Jeito II continues a disciplined and proven strategy built around a clear conviction: some of the most compelling opportunities in Biopharma lie at the intersection of scientific excellence, strong unmet medical need and growing demand for differentiated innovation."