RBC I&TS mandated for innovative biotech fund 17 November 2016Paris Reporter: Stephanie Palmer
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iBionext has chosen RBC Investor & Treasury Services to provide custody services for its new innovation fund, the iBionext Growth Fund for institutional biotech investors.
According to CEO of iBionext Alexia Perouse, the mandate was based on RBC’s expertise in providing private equity services, and for its quality of service in launching and structuring funds focused on innovation.
Specialising in the funding and development of innovative healthcare companies, iBionext is currently supporting the growth of seven start-ups in its network.
Perouse said: “The launch of our €100-€120 million fund, for which RBC will provide custody services, will enable us to finance innovative projects led by the start-ups in our network and attract institutional investors.”
“RBC’s support during our first closing, which took place this summer, confirmed that our choice of a partner is a perfect fit for the development of our fund.”
Philippe Legrand, managing director of RBC Investor & Treasury Services in France, added: “We successfully demonstrated our ability to support iBionext as a true partner that can anticipate and adapt our innovative fund structuring services.”
“Our client-centric approach and our organisational model, tailored for entrepreneurial management companies, enable us to support iBionext as it develops its business.”
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