
Illumina Ventures Eyes $300M for 3rd Biotech Fund
Illumina Ventures is looking to raise $300 million for a new investment fund, according to a filing with the U.S. Securities and Exchange Commission. Founding partner Nicholas Naclerio will oversee the Illumina Innovation Fund III, which has yet to see any investor commitments, the document revealed. The offering is not expected to last more than one year.
Illumina Ventures, which invests in genomics and precision health startups, raised $230 million for its debut fund in 2017 and $325 million for its sophomore fund in 2021. Its portfolio includes Arima Genomics, Broken String Biosciences, Delfi Diagnostics, DNAScript, Stilla Technologies, Tagomics, and Twist Bioscience.
The Bay Area firm has a strategic relationship with biotech business Illumina. The firm recently acquired Fluent BioSciences, a single-cell sequencing startup that had also received investment from Illumina Ventures.

