Eyeing bigger deals, Illumina Ventures closes $325M second fund

Illumina Ventures and its investors believe the markets’ warm reception to companies in its areas of investment focus warranted raising a second fund larger than the firm’s first, with the goal of entering more deals and committing more cash.

Nick Naclerio, the firm’s founding partner, told BioCentury the new $325 million-plus second fund could invest up to $20 million in select companies. The firm’s overarching focus is on genomics, spanning therapeutics, life science tools, diagnostics and digital health companies...