XGEN Venture, a Milan-based life sciences venture capital firm, has closed its inaugural fund at approximately €180 million, having aimed for €200 million. Founded in 2021 by Paolo Fundarò, Federica Draghi, and Daniele Scarinci, the firm has attracted significant investments from family office Micheli Associati, the European Investment Fund, and CDP Venture Capital. The fund focuses on early-stage investments in biotechnology, medical devices, and diagnostics, with six startups funded so far, including iOnctura BV. XGEN plans to make nine more investments in the next two to three years, emphasizing innovation’s role in healthcare challenges.