Illumina Ventures Closes $230 Million Fund
By Bio-IT World Staff
October 16, 2017 | Illumina Ventures announced today that it has raised $230 million for its first fund. Illumina Ventures was launched in the summer of 2016 with an initial $100 million investment from Illumina. The balance of the funds have been raised from a mix of corporate, institutional, sovereign, and individual investors.
Illumina Ventures was founded by Nicholas Naclerio, who was formerly SVP of corporate and venture development for Illumina, where he was responsible for Illumina's corporate strategy, business development, acquisitions, spin-offs, and venture investing. The new firm is managed independently from Illumina and is focused exclusively on genomics and precision medicine.
"Genomics has the potential to solve many of society's biggest challenges, from understanding the molecular basis of life, to more accurate medical diagnosis, life-saving drugs, and more sustainable sources of energy and food," Naclerio said in a press release. "The investor interest in this fund exceeded my expectations and will allow us to expand our team and support a greater number of entrepreneurs."
Illumina Ventures has already made investments in seven companies including Biota Technology, DNA Script, Encoded Genomics, Genome Medical, Kallyope, SerImmune, and Twist Bioscience.