SEC filings show the CVC wants to raise its third nine-figure fund to back biotech startups.
Illumina Ventures, the CVC arm of US biotechnology company Illumina, is seeking to raise $300m for its third fund, according to a filing with the US Securities and Exchange Commission earlier this week.
The unit closed its previous fund in late 2021 after raising $325m – which brought its total capital under management to $560m at the time – to invest in startups focused on life sciences, diagnostics, digital health, genomics and other therapeutic platforms. The CVC’s primary focus is in precision health and genomics startups.
Illumina Ventures’ more recent investments this year include oncology tech company Predicta Biosciences, immunology startup Attovia Therapeutics, AI-powered drug discovery company Iambic Therapeutics, genetic testing technology provider Stilla, and diagnostics company Tagomics.
The first fund closed in 2017. Founding partner Nicholas Naclerio will be managing the new fund, called Illumina Innovation Fund III.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
