Medicxi Ventures has appointed Elian to provide fund administration, accounting and compliance services to its first fund, MV1, which closed with commitments of €210m.
Medicxi Ventures, which has offices in London, Geneva and Jersey, is one of the largest independent European life sciences investment firms. MV1 is a Jersey Expert Fund, which includes contributions from GlaxoSmithKline and Johnson & Johnson, that will focus on early stage investment in life sciences, such as therapeutics and drug development. Legal advice on the formation of the fund was provided by Ogier.
‘Elian Fund Services has an excellent existing relationship with Index Ventures, which spun out Medicxi Ventures in February this year. Elian has a strong track record in providing the highest levels of client service and in particular with supporting and working with first time fund managers. The team at Elian is delighted to be working with Medicxi Ventures in this important sector, and is looking forward to growing the relationship,’ said Giles Johnstone-Scott, director of funds, Elian Fund Services.
Richard Corrigan, deputy chief executive, Jersey Finance, added: ‘It is always a pleasure to see member firms delivering excellence in fund administration services, broadening and deepening new and existing relationships with investment firms. Partnerships like these reinforce our world-leading position as a jurisdiction of substance, expertise and opportunity.’
Elian Fund Services provides a comprehensive range of administration services across a variety of fund types and asset classes. The company’s administration offering focuses on the private equity, debt, real estate and alternative markets.