A new approach to the financing of innovation
Founded in July 2009, Kurma Partners is a key European player in the financing of Innovation in Healthcare and Biotechnology, from pre-seed to growth capital, notably through Kurma Biofund I, II, and Kurma Diagnostics, as well as via strategic partnerships with prestigious European research and medical institutions.
Kurma Partners operates over the whole value chain and has the following activities:
- Fund management of Kurma Biofund I, (size of 51 million euros) Kurma Biofund I is an investment fund which is focused on life sciences and healthcare. It is dedicated to establishing a new economic model for the financing of innovation: a model based on strategic partnerships with the most highly reputable biotechnology and medical research centers in France and Europe. Kurma Biofund I is particularly interested in early stage projects, even those at the very leading edge of technology, aiming to transform them into viable entrepreneurial projects and bring them to fruition within three to five years.
- Fund management of Kurma Biofund II, with a target size of 55 million euros , KBII is a Venture Fund built according to the same approach as Kurma Biofund I, with an important focus on Rare Diseases (at least 50% of the Fund). The four main LPs of the Fund are GSK, BPI France, NEA (New Entreprise Associates) and Idinvest Partners.
- Fund management of Kurma Diagnostics, KDx, 1st closing of 33 million euros in May 2015, is an acceleration fund solely dedicated to Diagnostics projects and companies. KDx is built on the successful investments made in the diagnostics space during KBI. The fund benefits from a number of partnerships with major European institutions in the Diagnostics field.
- Management, under a consultancy mandate, of the Biotech portfolio of Idinvest Partners, formerly AGF Private Equity (“Idinvest Biotech”). The portfolio comprises 13 companies of which 3 have been exited and 10 are listed. The total investment size is approximately 100 million euros. Kurma Partners continues to advise IdInvest in Life Science investments, with co-investments taking place with the Kurma funds.
Ability to invest along the entire value chain from early stage companies to public companies
- Kurma Partners has developed a unique set of skills in “Early Stage” investments in the Life Science domain (company formation, seed funding). This segment represents approximately 40% of the investment activity at Kurma.
- The more traditional venture stage for the Life Science industry, represents a further 50% of our investments. The final 10% is occupied by the Growth capital (growth or listed companies). Our ability to invest at all the previously mentioned stages of a company is a unique asset that adds to our investment success.
Capital investment as a means of improving health and the environment
The team at Kurma Partners believes in the virtues of capital investment to speed up the results of research, to transform them into viable company projects and to contribute to improving our lives through the development of new drugs, diagnostic products and equipment. Our business is the transfer of sound and sustainable projects to industrial partners. An investment’s financial performance represents a value creation chain underpinned by entrepreneurial courage and strong ties between industrial, economic, human, social and societal development.
Kurma Partners bases its actions on certain values and principles :
- Bringing into line the interests of all those involved in venture capital investment, whether in guaranteeing investors the most efficient use of their capital or in enabling the other partners to reap the fruits of their work.
- Making clear and transparent commitments to research and management teams.
- Getting agreement on common objectives and on the way to set up and carry out all the operations that bring about an investor-entrepreneur relationship based on confidence.
- Believing in the benefits of creating businesses, of getting back to the pioneer spirit of enterprise, and making it work.
- Having respect for the human and financial resources with which we are entrusted.
- Exploring new territory, whether this be in terms of projects to finance, relationships with research centers, investment strategies, or the financial models of our projects.