London‑based venture firm Medicxi closed a €500 million (about $581 million) Fund V to back asset‑centric biotech startups and opportunistic later‑stage investments. The oversubscribed vehicle continues Medicxi’s model of creating focused, capital‑efficient companies built around single assets rather than platform bets. Medicxi cited a track record that includes 16 new companies and multiple positive clinical readouts and M&A exits; the firm plans to target programs with clear product visions and fast proof‑of‑concept inflection points. Partners highlighted the fund as a signal of investor confidence in targeted, translational biotech despite broader fundraising headwinds. The raise is likely to accelerate company creation in Europe and support follow‑on financing for emergent assets, reinforcing the region’s growing ecosystem for translational biotech.