Strategics back Sofinnova Partners’ ‘pan-European’ accelerator in €165M fund

European venture firm Sofinnova Partners has closed a new fund dedicated to supporting companies moving through its Biovelocita accelerator, a strategy it has expanded beyond Italy to stretch across the greater continent.

The €165 million ($179.5 million) vehicle, Sofinnova Biovelocita II, will have more than 10 times as much cash as the initial fund launched in 2015. Sofinnova has recently raised a total of €1.2 billion in new funding, spread across four of its seven strategies; the firm has not yet disclosed which three others have fresh money besides Biovelocita...