Formation of Biotech Incubator fund Novalis Ventures

Cresco acted as lead counsel to the general partner in the structuring, formation and fundraising of Novalis.

Novalis, structured as a tax efficient private privak, is an early stage incubator fund with an investment focus on pre-seed and seed stage opportunities in privately held companies which are active in the biotech and life sciences areas, and this on a global scale.

Managing Partners of the fund, Jan Van den Berghe and Wim Van Criekinge, target portfolio companies aiming to connect biotechnology and big data processing.

The fund, incorporated with an initial fund size of EUR 5 million, intends to raise additional capital commitments in subsequent closing rounds.

David Dessers, Wim Van Berendoncks and Reinart Vos constituted the deal team for this transaction.

For any further information or questions, please contact David Dessers.

More information on this transaction can be found in De Tijd.