Netherlands-based venture firm Forbion has raised €2.3 billion ($2.6 billion) across two new funds, marking its largest-ever fundraising and the largest life-sciences raise in Europe in 2026. Backed by institutional investors like Eli Lilly and Dutch pension managers, the raise brings Forbion's assets under management to €7.5 billion. This capital injection provides critical support to a European biotech sector facing a general shortage of capital and losing ground to the U.S. and China.
Details of the record fundraising
- ▪Netherlands-based venture firm Forbion raised €2.3 billion, or approximately $2.6 billion, across two new venture funds on October 6, 2026.
- ▪Forbion's €2.3 billion fundraising represents the firm's largest-ever capital raise and exceeded the amount Forbion originally planned to raise in 2026.
- ▪Forbion's two new funds, Forbion Growth Opportunities IV and Forbion Ventures Fund VIII, have the capacity to invest in up to 30 young biotechnology companies.
- ▪Forbion has already begun deploying capital from its €2.3 billion fundraising, with recent investments including Sling Therapeutics and Solstice Oncology.
Investors backing the new funds
- ▪Institutional investors backing Forbion's €2.3 billion fundraising include Dutch pension managers MN and PGGM, Germany's KfW Capital, the Kauffman Foundation, and Eli Lilly.
- ▪Approximately 60% of the capital raised for Forbion's two new funds came from European investors, while 40% was contributed by North American investors.
Fundraising history
- ▪The €2.3 billion fundraising brings Forbion's total assets under management to approximately 7.5 billion euros, or about $8.5 billion, representing a 50% increase from two years prior.
- ▪Prior to its 2026 capital raise, Forbion last announced a $2.2 billion fundraise in 2024.
Forbion's investment track record
- ▪Since its inception, Forbion has supported 142 companies and seen its portfolio startups bring 21 drugs or other medical products to market.
- ▪Several of Forbion's portfolio companies have recently exited, with Capstan Therapeutics, Mariana Oncology, and Aiolos Bio acquired by large pharmaceutical firms, and MapLight Therapeutics completing an initial public offering.
- ▪Forbion has publicly announced at least 55 investments since the start of 2022, making it one of the biopharmaceutical sector's most active investors during that period.
Challenges facing European biotechnology
- ▪European biotechnology executives stated that Europe conducts fewer clinical trials and accounts for a smaller share of global pharmaceutical research and development as activity shifts to China and the United States.
- ▪Last month, nine prominent European biotechnology board chairs published an open letter pressing for policy changes to address a decline in European biotech investment and drug development.
Debatable claims
- ▪Private venture capital is sufficient to revitalize the European biotech industry
- ▪European governments should prioritize biotech investment over drug cost containment
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