CARMA FUND I Completes First Closing of EUR 47 Million to Accelerate the Transfer of Life-Science Research into Practice
A consortium of strong partners has launched the CARMA FUND I as a new vehicle for the translation of promising early-stage life-science projects: the initiators, Ascenion GmbH, a life-science focused technology transfer company of the LifeScience Foundation and the Goethe-University, Frankfurt am Main with its technology transfer company Innovectis GmbH, together with the European Investment Fund (EIF), the life science company Evotec SE, and other investors. The fund will be managed by CARMA FUND Management GmbH, headed by its general partners Christian Leikert and Martin Raditsch.
Focus on high-potential, early-stage life-science start-ups and projects, sourced from Ascenion’s and Innovectis’ partner institutions and other European academic institutions (symbolic image).
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The fund, with a target size of EUR 60 million and a first closing at EUR 47 million, will invest in promising start-ups or high-potential academic projects in the life-science field, from Ascenion’s and Innovectis’ partner institutions. However, outstanding innovations or spin-offs from other German or European research organizations will also be considered as investment targets. Projects will be selected for their scientific excellence and potential to deliver outstanding societal or patient benefits and financial returns. CARMA is open to the full breadth of life-science and medical innovation, including new therapeutic and diagnostic approaches, platform technologies, medical devices and digital health. Along with funding, the projects will benefit from the partners’ network of distinguished top-level industry representatives and experts.
‘With CARMA, we have established a unique and powerful translational vehicle combining highly successful players in the field of life-science innovation’, state Martin Raditsch and Christian Leikert, General Partners of CARMA FUND Management.
‘The commitment of the partners involved shows that academic life science research can make an important contribution to solving acute problems,‘ says Professor Enrico Schleiff, president of Goethe University Frankfurt. ‘With the CARMA FUND, Goethe University Frankfurt is boosting the funding activities within its knowledge transfer ecosystem, which consists of IP management, incubation, founding, shareholding and funding,‘ adds Professor Michael Huth, chairman of Innovectis’ supervisory board and vice-president of Goethe University Frankfurt.
Christian Stein, CEO of Ascenion and member of CARMA’s Investor Advisory Board adds: ‘This fund truly is a game-changer for Ascenion. It enables us to provide fast, early-stage financing for top projects in a flexible fashion. The timeframe of 15+ years, which particularly suits the development horizon of therapeutic and diagnostic projects, allows the fund to participate in future revenues to support the charitable aims of the Life-Science Foundation’.
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