Medicxi stays the course with ‘classically’ sized $400M fourth fund

In contrast with some European VCs that have chosen to raise increasingly large funds, Medicxi chose not to raise more money for its fourth fund than its third. The decision was guided by the firm’s conviction that its asset-centric model is best suited to what Medicxi’s Francesco De Rubertis described as a “classical” VC fund size.

The firm has continued to realize exits during the biotech downturn, leading to oversubscription by LPs as it raised its $400 million Medicxi IV fund. But, De Rubertis told BioCentury, the firm believes the availability of capital should not dictate how much cash a firm should raise for a new fund...