US-based genomics technology provider Illumina has increased the size of its corporate venturing unit from $100m to approximately $189m and could close it at $250m, according to a securities filing on Tuesday.
Illumina produces DNA sequencing and array-based technology for use in sectors such as life sciences, oncology, reproductive health and agriculture.
The company launched Illumina Ventures in April 2016 as an independently managed venture capital firm, pledging to invest $100m in startups over a 10-year period.
A regulatory filing from the time indicates Illumina had placed a $200m ceiling for the unit, named in the filing as Illumina Innovation Fund I. However, a filing this week indicated it has upped the amount of capital together with the fund’s ceiling, adding 19 as yet undisclosed limited partners.
Illumina Ventures focuses on life science research, healthcare, public safety, personal wellness, agriculture and environmental science, and has two companies in its portfolio: synthetic DNA developer Twist Bioscience and Kallyope, which is researching the body’s gut-brain circuits.
The unit also oversees existing VC investments by its parent company, in companies including personal genetics data provider 23andMe, genetics database Human Longevity and DNA screening service Counsyl.