Ysios Capital launches €100M fund to build biotech companies

This article was published on March 27, 2026 Spain’s largest life sciences VC is moving upstream with InceptionBio, its first fund dedicated to the riskiest stage of biotech: company creation from university and research centre spinouts. CDTI is an anchor LP. The target is at least three new companies in 2026. The hardest part of turning academic science into a biotech company is not raising the Series A. It is the period before the Series A exists, when a promising laboratory discovery needs to be converted into a legal entity, given a founding team, and provided with just enough capital to generate the preclinical data that will make institutional investors take the call. Most European life sciences funds avoid this stage. It is slow, expensive, and the failure rate is punishing. Ysios Capital has decided to lean into it. The Barcelona and San Sebastián-based firm, Spain’s largest life sciences venture capital manager with more than €400 million in assets under management, has launched InceptionBio: a €100 million fund dedicated exclusively to biotech company creation and early-stage investment, with a particular focus on Spanish scientific institutions. The fund has already secu