Techno Venture Management (TVM), the German-US venture capital firm, has hired Stephen Hoffman, who founded Allos Therapeutics, a US biotechnology firm, to help invest its life science fund.

Hoffman will be based in Boston, helping to invest the €336m ($350m) fund raised in 2001 and run by Gert Caspritz, a partner. Some investments have been made but a spokeswoman said there is still "lots more money available to invest".