USA-based transatlantic life sciences investment firm SR One Capital Management announced the closure of its second venture fund. The company closed its fund at USD 600 million, exceeding its target of USD 500 million. SR One announced the closure on March 27, 2023. The diverse investor base of existing and new limited partners joined in the funding. Endowments, foundations, pharmaceutical companies, pension funds, sovereign wealth funds, as well as family offices.
Purpose of fund for SR One Capital Management
With Fund II, SR One seeks to explore investment opportunities in biotechnology companies. However, portfolio companies need to have the potential to address significant gaps in the current treatment landscape.
SR One’sOne’s investment strategy focuses on offering financial and direct operational support to help its portfolio companies advance programs through value-generating inflexion points.
For the second venture fund, Kirkland & Ellis acted as counsel to SR One Capital Management.
What the company’s officials have to say
Rajeev Dadoo, PhD, Managing Partner, SR One, further added, “We have built a team of seasoned investors and venture partners who I believe are well positioned to continue SR One’sOne’s history of productive investment. With Fund II, we hope to continue to apply our tried and tested partnership model in an effort to benefit the companies in which we invest and, ultimately, the patients and families that they serve.”
In addition, Simeon George, MD, Co-Founder and Chief Executive Officer, SR One, said, “We received an incredible response to the fund and are grateful to our limited partners for their continued support and confidence in our team. SR One’sOne’s model is built upon active collaboration and our ability to roll up our sleeves and help build value through multiple inflexion points. We seek to partner with entrepreneurs building elite biotechnology companies, and we look forward to the potential development of new medicines for patients that Fund II may help bring to the market.”
About the company
The USA-based SR One Capital Management is on a mission to translate innovative technologies and scientific discoveries into next-generation medicines. It seeks to benefit patients with significant unmet medical needs. Since the spin-out from GSK in 2020, SR One has raised more than USD 1 billion. The company is a founder and/or investor in more than 20 companies. SR One boasts offices in regions such as Redwood City, CA, and Philadelphia, PA, in the US as well as London in the UK.
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