Global independent private equity fund Jeito Capital has closed its second fund, Jeito II, surpassing its target of €1bn ($1.2bn), thereby establishing a significant new milestone for investment in European Biopharma. The milestone increases Jeito’s assets under management to €1.6bn, following the €534m closure of Jeito I in 2021.
Strategic Investment Focus
Continuing the initiative set by Jeito I, Jeito II will invest in 15 to 20 clinical-stage biopharma companies, mainly in Europe, for developing breakthrough therapies targeting severe diseases with high unmet medical needs.
This fundraising enables Jeito to enhance the average size of forthcoming investments in portfolio companies to €150m, and allows them to expedite their progress towards advanced clinical development. Jeito II has already deployed capital into companies addressing therapeutic areas such as autoimmune, cardiometabolic and inflammatory diseases, as well as obesity, oncology, and reproductive medicine.
International Backing and Vision
Jeito’s investment approach emphasises high-potential companies developing breakthrough therapies. Jeito II received support from investors in Asia, Europe, and North America, including sovereign wealth funds, corporate entities, banks, and family offices.
“The closing of Jeito II at more than one billion euros represents a very significant milestone for our business. This record fundraising is a collective success, reflecting the dedication and expertise of the entire Jeito team, the talent of its portfolio companies’ managers and the trust of our investors. We would like to thank them all for their hard work, dedication and support. It is also a strong signal for the European Biopharma ecosystem, demonstrating the growing conviction that European companies can drive major therapeutic innovation and significant economic benefits with the appropriate access to financial and strategic resources,” said Dr Rafaèle Tordjman, Founder and CEO of Jeito Capital.
European Biopharma Market Context
Data from Evaluate’s Biomedtracker projects global biopharma financing to reach $75 billion this year, a sharp decline from the $152 billion peak recorded in 2020, with Europe's share dropping to just 15% of the total at €11 billion. That said, Europe's core strengths in innovation and investment quality mean the trend can be reversed.
"In this environment, value creation requires both selectivity and continuity, backing the best companies, at the right time, with the right level of capital and expertise," commented Sabine Dandiguian, managing partner at Jeito. "Jeito is uniquely positioned to do so, thanks to a proven, differentiated methodology and to a team with the experience to provide both financing and significant industry expertise."
