Jeito Closes €1B Fund, Europe's Largest Independent Biopharma Raise
Jeito Capital has closed its second fund, Jeito II, at more than €1 billion, or about $1.2 billion, giving the Paris-based investor a larger pool of capital for clinical-stage biopharma companies in Europe. The firm says the close exceeds its original target and will support 15 to 20 companies, with per-company investments rising to as much as €150 million.
The new vehicle follows Jeito’s first fund, which raised €534 million in 2021. As with the earlier fund, Jeito said it plans to back clinical-stage companies in Europe, particularly those developing therapies for severe diseases with high unmet need and aiming to move programs through development and toward market access.
So far, companies that have exited the fund after Jeito investments include Eyebiotech, acquired by Merck & Co. in 2024 for $1.3 billion upfront, and Hi-Bio, acquired by Biogen in 2024 for $1.15 billion upfront.
Founder and president of Jeito Capital, Rafaèle Tordjman, said the fund close points to stronger investor conviction in Europe’s biotech sector and in the ability of regional companies to produce commercially relevant therapies when they have access to financing and strategic support.
The fundraise lands amid wider concern about Europe’s ability to scale life sciences companies despite a strong research base. In February, firms including Novo Holdings and Sofinnova Partners joined forces in a broader push arguing that Europe needs more capital to sustain biotech growth and avoid losing companies and assets to other markets.
Our deeper analysis looks at how the region is trying to respond, from the proposed Biotech Act and the push for a simpler pan-European company structure to new public-private funding plans meant to close Europe’s long-standing capital gap with the US. It also examines why the issue is not just early science, but Europe’s difficulty turning strong research output into scaled companies, local listings, and later-stage product development.
See also: The €25B vs €219B Problem: Europe's Plan to Fix Biotech
The other side of the equation—AI infrastructure, sovereign compute, and a new cohort of techbio companies—are also starting to shape the region’s competitive position.
Despite the backdrop, moves by groups including Owkin, Bioptimus, Cradle, Aqemia, and others, alongside fresh capital commitments from the European Commission, EIB, foundations, and specialist investors haven’t stopped.
To name a few sizeable funds, in November, Medicxi, which operates from London and Geneva, raised €500 million for its sixth fund, Sofinnova Partners closed its €650 million Capital XI fund the same month and its €165 million Biovelocita II biotech acceleration fund in March 2025, while Netherlands-based Forbion took its BioEconomy Fund I to a €200 million hard cap also in November 2025.
Topic: Biotech Ventures
