King & Wood Mallesons (KWM) advises Ysios Capital on the structuring and close of its second fund, Ysios BioFund II Innvierte, after receiving capital commitments of €126.4 M and exceeding its initial target fund size of €100 M. The strategy of this new fund is to invest in biotech start-ups and development phase companies.

Legal advice to Ysios Capital was led by Madrid Funds partner Isabel Rodríguez with the assistance of senior associate Ildefonso Alier.

Isabel Rodríguez explains, “In the last few years we have seen a consolidation of the venture capital sector in Spain, with new investors with a national and international profile. This is another sign of the maturity and confidence that our venture capital sector is achieving”.

Ysios BioFund II Innvierte institutional investors include CDTI (Spanish Ministry of Economy) through its Innvierte program; the European Investment Fund (EIF) and the European Commission through InnovFin SME Venture Capital, a financial instrument developed under the EU Framework Programme for Research and Innovation Horizon 2020. Other investors are pensions funds such as Orza and Lagun Aro, private investors and family offices.

Ysios Capital, founded in 2008, is an independent venture capital firm providing private equity financing to early and late-stage human healthcare and biotechnology companies, with a special focus on pharmaceuticals, diagnostics and medical devices. With the new fund Ysios BioFund II Innvierte, Ysios Capital manages almost €200 M across two funds.