$117M venture firm takes flight in Europe

A group of Elan veterans in Ireland have launched a €75 million ($117 million) venture fund for life sciences companies. Fountain Healthcare Partners, based in Dublin, plans to sink anywhere from €500,000 to €7 million in a variety of companies in Europe, with a big focus on Ireland. And the principals expect considerable demand for the cash.

"For companies looking to raise $10 to $15 million to undertake a phase I or phase II study, they really don't have dedicated venture capital funds to raise that money," says partner Aidan King.

- see this release
- read the report in the Wall Street Journal