About This Fund
The Kurma Growth Opportunity Fund is the first growth equity vehicle raised by Kurma Partners, a Paris-based life sciences investment firm with offices in Paris and Munich. Announced in March 2022 with an initial target of €250 million, the fund achieved a final close at €160 million and represents Kurma's strategic expansion from its established early-stage Biofund strategy into later-stage, commercially-oriented healthcare investing. The fund broadens Kurma's offering across the European life sciences investment spectrum, complementing its flagship Biofund series — which targets early-stage biotechnology companies — with a dedicated vehicle for companies approaching commercial inflection and needing growth capital to scale.
The Kurma Growth Opportunity Fund invests primarily in unlisted European companies in healthcare, biotechnology, and healthtech at the critical transition between R&D-stage and commercial operations. Target companies are those with strong clinical evidence, meaningful unmet medical need, and clear near-term revenue potential, typically at the late Series B through Series D stage. The fund targets a diversified portfolio of at least 15 investments, deploying growth equity capital to accelerate commercialization, geographic expansion, and operational scale-up. Kurma's 25-member team, including 10 partners based across Paris and Munich, provides hands-on support in regulatory strategy, market access, partnership development, and business building.
Kurma Partners has over 15 years of experience investing in European life sciences, managing a portfolio of funds including its flagship Biofund series, with Biofund IV targeting €250 million (first close October 2024). The firm has supported the creation and growth of numerous European biotech companies and built a deep network of scientific advisors and industry partners across clinical, regulatory, and commercial disciplines. The Growth Opportunity Fund closed at €160 million — below its target but representing a solid first close for a first-generation growth vehicle — reflecting institutional confidence in Kurma's ability to extend its expertise into the commercialization stage of the healthcare value chain.