With €1B fund, Jeito looks for ‘plug-and-play’ biotechs ripe for pharma takeouts

Jeito has parlayed its first three exits into a new €1 billion ($1.2 billion) vehicle to fund its next wave of European portfolio companies ready to “plug and play” into pharma pipelines facing steep patent cliffs.

It is one of the largest-ever funds raised by a European VC firm (see table), and is nearly double the size of the firm’s €534 million inaugural fund...