Venture report: Earlybird’s €173M fund, launches for Firefly and Latigo

Earlybird Health Fund is looking to make more therapeutic investments in its second fund, which closed at €173 million ($185.1 million), more than double the firm’s first healthcare-focused fund, which raised €85 million in 2016. 

According to partner Lionel Carnot, the partners managing the first fund were more experienced in medical devices, and so the vast majority of investments in the first fund were directed to that space. But with the addition of Carnot, partner Florent Gros and principal Rabab Nasrallah bringing more biopharma experience to the team, the firm is targeting a greater balance of investments across the healthcare space. ...