Healthcare leads rise in European venture capital funding
Friday, 10 September, 2004
European venture-capital investment rose 10 per cent in the second quarter of this year over the first quarter to 967.3 million euros, driven by more funding for healthcare, including biopharmaceutical and medical-device companies
Ernst & Young and VentureOne said in a report it was the highest quarterly amount invested since 2002.
The increase was boosted by a significant new venture capital money for biopharmaceutical and medical-device companies, with 322.1 million and 93.7 million euros going into the two areas respectively.
It was the first time on record that investment in healthcare, which totalled 426.2 million, exceeded the amount invested in information technology, at 420.9 million.
"The increased appetite in healthcare investments by European investors is partly influenced by the active life sciences IPOs (initial public offerings) in the US in the last three quarters and by recent life sciences IPOs in Europe," said Gil Forer, head of Ernst & Young's venture capital group.
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