NEW YORK (GenomeWeb News) – EMBL ventures, the venture capital arm of the European Molecular Biology Laboratory, today announced the €40 million ($55 million) first close of its EMBL Technology Fund II.
The venture arm of Heidelberg, Germany-based EMBL will remain focused on investments in European biotech and medtech companies and said that it intends to commit between €2 million and €5 million per investment.
"Basic and translational research that benefits our member states and beyond is one of EMBL's missions," Iain Mattaj, Director General of EMBL, said in a statement. "Through EMBL Ventures we will continue to leverage the network and scientific excellence of EMBL as Europe's flagship research institute to achieve this goal."
EMBL Ventures currently manages €66 million on behalf of private and institutional investors in Europe.