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Illumina Ventures Raises $230M for First Fund

NEW YORK (GenomeWeb) – Illumina Ventures has raised $230 million for its first fund, which focuses on supporting firms involved in genomics and precision medicine.

Illumina launched the independent, early-stage venture capital firm in 2016 with an investment of $100 million. Since launching, it has raised an additional $130 million from a mix of corporate, institutional, sovereign, and individual investors.

The investment will "allow us to expand our team and support a greater number of entrepreneurs," Nicholas Naclerio, founding partner of Illumina Ventures, said in a statement.

Thus far, the firm has invested in seven companies: Biota Technology, DNA Script, Encoded Genomics, Genome Medical, Kallyope, SerImmune, and Twist Bioscience.

"The rapid advances in genomics are creating tremendous entrepreneurial opportunities across industries from novel therapeutics, diagnostics, and research tools to food security and synthetic biology," Francis deSouza, president and CEO of Illumina, said in a statement.