European venture firm Medicxi closed a €500 million Fund V focused on company creation and selective later‑stage investments, according to the firm. The vehicle targets product‑focused startups and well‑positioned assets, reflecting investor appetite for platform‑driven biotech creation in Europe. Fund V’s size and stated discipline indicate continued capital flows into early‑stage biotech despite broader market volatility; managers said they will prioritize deep biology and assets with clear clinical inflection points.