EQT Life Sciences has closed its inaugural LSP Dementia Fund, raising approximately €260 million ($281.7 million) in fee-generating assets under management, meeting the hard cap and surpassing the target fund size of €100 million ($108.3 million).

The fund is focused on investing in companies that are working to develop drug therapies and medical technologies across the spectrum of neurodegenerative diseases. The LSP Dementia Fund aims to advance dementia innovation to bring new drugs to patients while seeking to generate financial returns for its investors. The fund has already invested in NewAmsterdam Pharma, Muna Therapeutics, AviadoBio, Nobi and QurAlis, and intends to invest in 10 to 15 companies total.

“We strongly believe that neurodegenerative diseases are the next big challenge after oncology and cardiovascular diseases,” says René Kuijten, partner and head of EQT Life Sciences. “With this fund, EQT Life Sciences is now in a strong position to support companies at the cutting edge of battling this disease.”