Closed Fund VIII by Omega Funds, Amassing $647 Million for Life Sciences Business Investments
Omega Funds, a leading venture capital firm, has successfully closed its eighth fund at $647 million. The fund, Omega Fund VIII, L.P., received backing from both new and existing investors, demonstrating recognition of Omega Funds' investment strategy and track record.
The fund will continue to support management teams in the U.S. and Europe through various stages of financing, a strategy consistent with that of Omega's previous funds. Omega Funds believes its broad investment strategy is well-suited for navigating macro and policy uncertainty.
Since 2004, Omega Funds has raised a total of $2.5 billion. The firm has facilitated several recent acquisitions in the life sciences sector through its investments, rather than making acquisitions itself. Notable recent exits include SoniVie (acquired by Boston Scientific), Scorpion Therapeutics (acquired by Eli Lilly), Kestra Medical Technologies, Beta Bionics, Upstream Bio, Bicara Therapeutics, Morphic Therapeutic (acquired by Eli Lilly), EyeBio (acquired by Merck), Imago BioSciences (acquired by Merck), Amunix Pharmaceuticals (acquired by Sanofi), and Chord Therapeutics (acquired by Merck KGaA). These exits highlight Omega Funds' strategy of supporting companies that address severe, unmet medical needs and its role in facilitating significant transactions in the life sciences sector.
Fund VIII will be managed by Otello Stampacchia and Francesco Draetta, Founder and Managing Director, and Managing Director of Omega Funds, respectively. The fund aims to transform the standards of care for severe diseases by supporting entrepreneurs developing groundbreaking products across various therapeutic areas.
Omega's investments have led to 50 M&A exits and 47 public listings. Fund VIII has contributed to 52 products reaching the market. The partners expressed gratitude to both longstanding and new limited partners for their support and trust, even in a challenging fundraising environment.
Omega Funds will continue to partner with entrepreneurs, founders, co-investors, and the broader community, as it continues to invest in innovative life sciences companies in the U.S. and Europe. The fund surpassed its initial target of $600 million, signifying confidence in Omega Funds' ability to deliver successful investments in the life sciences sector.
- The venture capital firm, Omega Funds, is set to invest in cutting-edge medical-conditions and health-and-wellness solutions across various therapeutic areas, with its eighth fund, Omega Fund VIII, focused on transforming health standards for severe diseases.
- Omega Funds' robust investment strategy, which provides financing for management teams in the U.S. and Europe, will continue to enable the firm to capitalize on opportunities in the science-driven life sciences sector, thus expanding its finance portfolio and contributing to numerous acquisitions and public listings in this sector.
- By partnering with entrepreneurs who address severe, unmet medical needs, and engaging in venture capital investments, Omega Funds aims to leverage finance for making significant impact on the health-and-wellness industry and facilitating healthier futures for people worldwide.
