Illumina Ventures, the venture capital firm sponsored by US-headquartered genomics technology producer Illumina, closed its second fund at $325m yesterday.
The fund is anchored by Illumina but it sourced the majority of the capital from external limited partners including sovereign wealth fund Ireland Strategic Investment Fund.
Founded in 2016, Illumina Ventures invests in developers of therapeutics, diagnostics technology, life science tools and personal wellness products. It closed its first fund at $230m the following year, with Illumina putting up $100m.
The firm’s 25-strong portfolio includes Human Longevity, the genomics research provider which had raised $320m as of late 2019, and diagnostic testing kit developer LetsGetChecked, which secured $150m in June this year at a valuation above $1bn.
Nick Naclerio, founding partner of Illumina Ventures, said: “Genomics and precision medicine are revolutionising the healthcare industry. This larger fund enables us to pursue more ambitious projects in the US and Europe while building upon the strategies and core values that have been successful in the past.”
Illumina chief executive Francis DeSouza added: “Our investment in Illumina Ventures furthers our objective of supporting innovation in the genomics ecosystem. It has been a great partnership, and we look forward to seeing what comes from Fund II.”
