Dutch venture capitalist Aglaia has announced the launch of Aglaia Oncology Fund II. Investors contribute a total of $65 million to the fund, whose target size is $80 to $100 million. Like its predecessor Aglaia Oncology Fund I, the fund is backed by high-net-worth families. The group of investors has now been expanded to include several institutional investors, including the European Investment Fund (EIF), which has made a substantial commitment. Aglaia is also one of the funds selected under the Dutch Venture Initiative, an investment fund recently launched by the Netherlands Ministry of Economic Affairs.
Through the new fund, Aglaia will be investing in an estimated ten to fifteen biotechnology start-ups which are in the process of developing groundbreaking technologies aimed at preventing and curing cancer.