SR One Capital Fund II closes at US $600M

CPE News

CPE News (3.27.2023) – SR One has closed its second fund, SR One Capital Fund II, at over $600 million, substantially exceeding its target of $500 million.

Fund II is the second fund since SR One spun out from GlaxoSmithKline (GSK) in 2020 to form a fully independent investment firm. The diverse investor base of existing and new limited partners includes endowments, foundations, pharmaceutical companies, pension funds, sovereign wealth funds, and family offices.

Goldman Sachs International and OmniCap, LLC acted as placement agents. Kirkland & Ellis acted as counsel to SR One for the fundraise.

With offices in Waye Pennsylvania, Redwood City, California, and London, UK, SR One is a transatlantic life sciences investment firm. Since the spin out from GSK in 2020, SR One has raised over $1 billion and founded and/or invested in over 20 companies, including Canadian company Nomic.

photo credit: SR One

News Release

SR One Closes Second Venture Fund at $600 Million

Second venture fund since spin out from GSK brings SR One total under management to over $1.5 billion
SR One will use this capital to continue supporting emerging biotechnology companies with the potential to translate innovative science into the next generation of novel medicines

March 27, 2023 06:30 AM Eastern Daylight Time

REDWOOD CITY, Calif. & LONDON–(BUSINESS WIRE)–SR One, a transatlantic life sciences investment firm, today announced the close of its second fund (“Fund II”) at over $600 million, substantially exceeding its target of $500 million. Fund II is the second fund since SR One spun out from GlaxoSmithKline (GSK) in 2020 to form a fully independent investment firm. The diverse investor base of existing and new limited partners includes endowments, foundations, pharmaceutical companies, pension funds, sovereign wealth funds, and family offices.

“We received an incredible response to the fund and are grateful to our limited partners for their continued support and confidence in our team,” said Simeon George, MD, Co-Founder and Chief Executive Officer, SR One. “SR One’s model is built upon active collaboration and our ability to roll up our sleeves and help build value through multiple inflection 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.”

With Fund II, SR One will continue to invest in biotechnology companies that have the potential to address significant gaps in the current treatment landscape. SR One’s investment strategy focuses on providing financial and direct operational support to help its portfolio companies advance programs through value-generating inflection points.

“We have built a team of seasoned investors and venture partners who I believe are well positioned to continue SR One’s history of productive investment,” said Rajeev Dadoo, PhD, Managing Partner, SR One. “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.”

Kirkland & Ellis acted as counsel to SR One for the fundraise.

About SR One
SR One is a transatlantic biotechnology venture capital firm, headquartered in the San Francisco Bay Area, that collaborates with entrepreneurs and investment partners in an effort to build elite biotechnology companies. The Company’s mission is to translate innovative technologies and scientific discoveries into next-generation medicines with the potential to benefit patients with significant unmet medical needs. SR One leadership has worked together to build and invest in biotechnology companies for more than a decade. Working alongside the investment team, SR One’s venture partners bring deep operational experience to help company creation initiatives and support portfolio companies with financing and corporate strategies. Since the spin out from GSK in 2020, SR One has raised over $1 billion and founded and/or invested in over 20 companies. SR One has offices in Redwood City, CA, and Philadelphia, PA, in the US and London in the UK. For more information, connect at www.srone.com.
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Media:
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Sam Brown Inc.
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