Asabys Launches €120M Deep Tech Fund to Boost Early-Stage Life Sciences in Spain

The management company has been selected in the Innvierte Deep Start call of the CDTI and the FEI, specializing in deep technologies and technology transfer.

Asabys Partners is reinforcing its commitment to investing in very early-stage companies. The Barcelona-based asset manager, specializing in the life sciences industry, has launched Asabys Innvierte Tech Transfer, a venture capital fund of up to €120 million, aimed at fostering the creation and development of emerging companies in the sector.

The investment firm has been selected in the Innvierte Deep Start call for proposals, promoted by the Centre for the Development of Technology and Innovation (CDTI) and the European Investment Fund (EIF), which focuses on technology transfer and deep technologies. Both organizations will contribute the majority of the resources, €74.7 million.

Asabys and its €120M fund supporting early-stage biotech and deep tech innovation in Spain

Asabys already has experience in creating biotechnology, biopharmaceutical, and medical technology companies and has participated in the launch of companies such as Ona Therapeutics, Inbrain Neuroelectronics, Nuage Therapeutics, OrikineBio, and Allox.

The new fund represents a further step in this strategy, and the management company has set itself the goal of investing in a dozen Spanish companies in very early stages. Its intention is both to facilitate the creation of spin-offs and to support projects that need pre-seed funding.

Asabys Innvierte Tech Transfer will seek research using advanced technologies, such as AI or synthetic biology, or specializing in new therapeutic modalities. The fund also plans to help attract international capital to Spain, both from other venture capital firms and corporate funds from companies in the healthcare sector.

The new fund will be managed by a team of seven professionals, including three partners : Emilio Erazo-Fischer , former executive at Boehringer Ingelheim; Montserrat Vendrell, former CEO of the Barcelona Science Park (PCB); and a third partner, yet to be announced. The fund will have the support of the entire management company staff, which currently has 18 employees and expects to reach 20 by summer.

“It’s a cross-cutting fund: we’re looking for good science,” says Erazo-Fischer. Vendrell highlights Spain’s “extraordinary scientific base” and emphasizes that Asabys’s objective is to support researchers “from the process of identifying new projects with high potential” to the creation of a company capable of “competing internationally.”

The firm, founded by Josep Lluís Sanfeliu and Clara Campàs, has €400 million in assets under management and 23 portfolio companies . Asabys manages two active funds and participates in the management of Alta Life Sciences , a fund it acquired in October.

The Invierte Deep Start call for proposals has a budget of €353 million. The CDTI and the FEI have also invested €30 million through this instrument in Montana Children’s Health Innvierte, Ship2B Ventures’ pediatric fund.

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(Featured image by Marek Studzinski via Unsplash)

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