Life sciences VC Omega Funds closes $647m funding round
Representing its eighth funding round since launching in 2004, the oversubscribed fund had originally targeted a $600m close. According to Omega Funds, it has raised $2.5bn since launching in 2004.
Life sciences venture capital (VC) company Omega Funds has closed its eighth fund, with capital commitments totalling $647m.
As with its previous funds, the US-based business said its oversubscribed funding, which had initially targeted a $600m close, will continue executing on its strategy to support management teams in the US and Europe that target severe, unmet medical needs through company creation, early venture rounds, and later-stage financing.
Omega Funds managing director Francesco Draetta said: “We believe our broad investment strategy is well-positioned for navigating this period of macro and policy uncertainty. We look forward to contributing our capital, expertise, and network connectivity in partnering with entrepreneurs, founders, co-investors, and the broader community to transform the standards of care for severe diseases.”
According to Omega, it has raised $2.5bn since its first fund in 2004 to support the development of medical devices and therapeutics across indications including oncology, immunology, and rare diseases.
In total, 52 products have been brought to market by Omega’s former portfolio companies, with the VC’s previous investments resulting in 50 exits via M&A, and 47 public listings.
