Illumina Ventures seeks $300m for third fund

Illumina Ventures, the CVC arm of US biotechnology company Illumina, is seeking to raise $300m for its third fund, according to a filing with the US Securities and Exchange Commission earlier this week.

The unit closed its previous fund in late 2021 after raising $325m – which brought its total capital under management to $560m at the time – to invest in startups focused on life sciences, diagnostics, digital health, genomics and other therapeutic platforms. The CVC’s primary focus is in precision health and genomics startups.