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Illumina Ventures has closed its second investment fund, raising $325 million to enhance its capital to $560 million. The fund, primarily backed by Illumina, Inc. (NASDAQ: ILMN), aims to invest in innovative start-ups in healthcare, particularly in genomics and precision medicine. Since its inception in 2016, Illumina Ventures has invested in 25 companies, contributing to life science advancements. The firm plans to explore more ambitious projects in the US and Europe, reflecting its commitment to transforming healthcare.
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Raised $325 million for the second investment fund, totaling $560 million under management.
Focus on early-stage companies in life science tools, diagnostics, and therapeutics.
Strong backing from strategic investors, including the Ireland Strategic Investment Fund.
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Genomics-Focused Fund Will Support Start-Ups in Healthcare Innovation
SAN FRANCISCO--(BUSINESS WIRE)--
Illumina Ventures, an independently-managed, healthcare-focused venture firm, announced today the closing of its second investment fund with total commitments of $325 million, bringing its total capital under management to $560 million. The latest fund is anchored by Illumina, Inc. (Nasdaq: ILMN), with the majority of the total committed capital from other strategic and financial investors, including the Ireland Strategic Investment Fund (ISIF). The fund will support early-stage companies that are pioneering breakthroughs in life science tools, clinical diagnostics, therapeutics platforms, digital health, and other applications of genomics.
"Genomics and precision medicine are revolutionizing the healthcare industry," said Nick Naclerio, Illumina Ventures' Founding Partner. "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."
"Our investment in Illumina Ventures furthers our objective of supporting innovation in the genomics ecosystem," said Francis DeSouza, CEO of Illumina. "It's been a great partnership, and we look forward to seeing what comes from Fund II."
Paul Saunders, Senior Investment Director at the Ireland Strategic Investment Fund (ISIF), said: "We are delighted to be supporting Illumina Ventures' second fund. ISIF's commitment to venture capital platforms provides valuable support for emerging life sciences companies with high growth potential, and Illumina Ventures' unique approach and perspective adds significant value to the Irish market."
"Illumina Ventures well understands the promise of synthetic biology and enzymatic DNA synthesis technology to advance applications across life sciences and biology, including drug discovery and development, precision medicine, and DNA data storage," said Thomas Ybert, CEO and co-founder of DNA Script, an Illumina Ventures portfolio company. "Our team has made incredible progress since Illumina Ventures led our Series A funding round in 2017, and we're grateful for their ongoing support and guidance."
About Illumina Ventures
Illumina Ventures is an independently managed, healthcare-focused venture firm in a strategic partnership with Illumina, with the vision to unlock the power of the genome. As an early-stage, value-add investor, Illumina helps entrepreneurs develop breakthrough science and technologies into market-leading companies to transform healthcare. The firm focuses on investment in life science tools, therapeutics, diagnostics, and personal wellness. For more information, visit www.illuminaventures.com.
About ISIF
The Ireland Strategic Investment Fund (ISIF), controlled and managed by the National Treasury Management Agency (NTMA), is a flexible, long-term, sovereign investment partner with a unique mandate. The ISIF is comprised of the Discretionary Portfolio and the Directed Portfolio. The Discretionary Portfolio (€9.2 billion) has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland.
