GlaxoSmithKline's corporate venturing unit is now an independent firm with a $500m fund anchored by its former parent.
UK-headquartered pharmaceutical firm GlaxoSmithKline (GSK) spun off its corporate venturing unit, SR One, into an independent venture capital firm yesterday.
GSK remains the largest investor in newly rebranded SR One Capital Management’s latest fund, an oversubscribed $500m vehicle also backed by undisclosed asset managers, pension funds, family offices, endowments and foundations.
Founded in 1985, SR One has made strategic investments in innovative drug developers on behalf of GSK. Its portfolio currently includes Palleon Pharmaceuticals, the immunotherapy developer that raised…
