Jeito Capital Research
Investment Thesis
Jeito Capital is a Paris-headquartered, fully independent European growth-equity investor dedicated exclusively to biopharma. Founded in 2018 by Dr. Rafaèle Tordjman, a hematologist and 20-year life sciences investor, the firm pursues what it calls a "patient-benefit driven approach" to financing and accelerating cutting-edge medical innovation. Its stated mission, "Go faster for the patient, further with the entrepreneur," reflects a philosophy of providing significant, continuity-of-capital investments alongside multidisciplinary expert support (regulatory, clinical, commercial, and M&A) to help clinical-stage biotech and pharma companies bring breakthrough treatments to market globally.
Sector Focus
Jeito invests exclusively in biopharma and therapeutic innovation across the drug development value chain, with declared focus areas including oncology, immuno-oncology, autoimmune and inflammatory diseases, ophthalmology, cardiovascular and cardio-metabolic disease, obesity/metabolic disease, reproductive and women's health, and neuromuscular/neurodegenerative disease — prioritizing indications with high unmet medical need.
Stage Focus
The fund targets clinical-stage (and select preclinical) biopharma companies through to market access, i.e., growth-stage private biotech financing (typically Series A/B and later crossover rounds) rather than early seed-stage venture investing.
Check Size
Jeito has stated it plans to support 15–20 clinical-stage drugmakers per fund, supplying each with investments of up to €150 million over the life of the relationship. Individual round tickets vary widely (e.g., cornerstone participation in Alveus Therapeutics' $197M Series A second closing), consistent with a growth-equity, high-conviction, concentrated-portfolio model.
Lead Tendency
Jeito frequently acts as a cornerstone or lead investor in the rounds it backs (e.g., Alveus Therapeutics Series A second closing, February 2026), while also participating alongside syndicates of global institutional investors, sovereign funds, pension funds, insurers, pharma corporates, and family offices.
Recent Activity
Jeito closed its second fund, Jeito II, in April 2026 at over €1 billion (~$1.2B), which the firm called the largest-ever raise by a fully independent European biopharma-focused fund — tripling total AUM to €1.6 billion in five years, up from Jeito I's €534M close in 2021. In February 2026, Jeito was the cornerstone investor in the oversubscribed $197M Series A second closing for Alveus Therapeutics (obesity/metabolic disease). Portfolio company Odyssey Therapeutics (autoimmune disease) completed an upsized $304M IPO on Nasdaq (ODTX) in May 2026.
Portfolio Highlights
Jeito's portfolio spans roughly 20+ active and exited biopharma companies. Notable exits include Neogene Therapeutics (TCR-T cell therapy), acquired by AstraZeneca for an initial $200M plus up to $120M in milestones (completed January 2023); EyeBio (ophthalmology), acquired by Merck & Co. for a $1.3B upfront payment plus up to $1.7B in milestones (completed July 2024); and HI-Bio (Human Immunology Biosciences, autoimmune disease), acquired by Biogen for ~$1.15B upfront plus up to $650M in milestones (completed July 2024). Active portfolio companies include Odyssey Therapeutics (autoimmune, Nasdaq IPO May 2026), SparingVision (ophthalmology gene therapy), Pulmocide (inhaled respiratory medicine), Alentis Therapeutics (cancer/organ fibrosis), Quell Therapeutics (T-reg cell therapy), NMD Pharma (neuromuscular disease), CatalYm (immuno-oncology, Phase II), Noema Pharma (CNS disorders), Aviceda Therapeutics (ophthalmology), Alveus Therapeutics (obesity/metabolic), and Bionyra Pharma (immune-mediated inflammatory disease, $165M Series A), among others.
Team
Jeito has built out a large, deeply credentialed team across investment, scientific, regulatory, business development, talent, legal, and finance functions:
- Rafaèle Tordjman, MD PhD — Founder & CEO. ~20 years in life sciences investing; former Sofinnova Partners partner managing €1.5B; founded Jeito in 2018.
- Sabine Dandiguian — Managing Partner. 30+ years pharma/medical devices; 20-year Johnson & Johnson veteran, former Janssen President France.
- Ksenija Pavletic — General Partner & Chief Commercial Officer (promoted October 2025). 25+ years pharma/biotech; former PregLem CEO (CHF445M exit); Serono/Merck Serono background.
- Mehdi Ainouche, PharmD — Partner (promoted May 2025). Joined 2020 as Principal; 10+ years life sciences investing.
- Julien Elric, PhD — Senior Principal (promoted 2024/2025). Joined 2021; former Paris Brain Institute incubator leader.
- Magdalena Jonikas, PhD — Partner. 15 years international biopharma; former Syncona Partner; ex-McKinsey.
- Anastasiya Sybirna, PhD — Principal. Former F-Prime Capital Senior Associate; ex-McKinsey.
- Elaine Caughey, MBA — Partner, Business Development & Investor Relations (appointed May 2026). Former Blackstone Life Sciences Deputy COO; former Kymera Therapeutics CBO.
- Sarah Shackelton, MPA — Partner, Talent (appointed May 2026). Former Oxford Science Enterprises Chief Talent Officer; former Abingworth Partner.
- Pascal Touchon — Operating Partner. 35+ years pharma leadership; former Atara Biotherapeutics CEO; former Novartis SVP Cell & Gene Therapy.
- Claudio Costa-Neto, PhD — Chief Scientific Officer. 25+ years biomedical sciences; former University of São Paulo professor/department head.
- Samit Hirawat, MD — Strategic Medical Advisor. Former Bristol Myers Squibb Chief Medical Officer & EVP.
Decision Process
Jeito operates with a sizeable, formalized partnership structure (Founder/CEO, Managing Partner, General Partner, multiple Partners spanning investment, BD, talent, and regulatory functions, plus scientific and operating advisors), consistent with an investment-committee-style decision process typical of institutional growth-equity funds rather than a solo-GP model.
Founder Preferences
Jeito partners with entrepreneurial teams developing differentiated, clinical-stage therapeutics addressing high-unmet-need indications, and positions itself as providing "continuity of capital" plus hands-on multidisciplinary operating support (regulatory, clinical, commercial, M&A) through to market access — implying a preference for experienced biopharma founder-executives with credible clinical development plans.
Geographic Focus
Primarily European biopharma companies, with Jeito's own team based across Europe (Paris HQ) and an expanding US/UK presence (e.g., the Jonikas/Sybirna hires as part of a UK expansion) to support transatlantic commercialization.