The Private Investment Funds team at Goodwin advised Abingworth on the formation of its latest transatlantic venture fund, Abingworth Bioventures 8 (ABV 8), which closed at $465 million. ABV 8, which is Abingworth’s 13th life sciences fund, exceeded its target of $375 million and closed at its hard cap.
Abingworth is a leading transatlantic life sciences investment firm. Since 1973, Abingworth has invested in 170 life science companies, leading to 44 M&As and 69 IPOs.
ABV 8 will target companies developing innovative therapeutics with potential to significantly improve human health. As with previous funds, ABV 8 will invest in opportunities in the U.S., U.K., and Continental Europe. ABV 8 will invest broadly across multiple stages including seed and early stage, development-stage companies, including VIPEs (Venture Investments in Public Equities), and clinical co-development opportunities. Total investment size per company will typically range from $15 million to $30 million.
The Goodwin team was led by Ajay Pathak and Ravi Chopra with support from Suzana Livaja, and Michael O’Brien Kelly on fund aspects, Laura Charkin, Charlotte Haywood, Karen Turk, and Sonita Bennitt on tax aspects, and Glynn Barwick and Brynn Peltz on regulatory aspects.
For more details, read the press release.