With second post-GSK fund, SR One navigates changes along independent path

Roughly three years into its independence from GSK, venture firm SR One is drawing on its experience with prior downturns as it invests a new $600 million fund, maintaining some ties to its former parent while adding key staff to grow in new directions.

The firm that for decades was the corporate VC arm of GSK plc (LSE:GSK; NYSE:GSK) started seeking outside investors early in 2020, then announced its $500 million first fund in November of that year. Although its mission has remained largely unchanged — investing with an eye toward strong clinical benefit and profound patient impacts — several dynamics have pushed the firm into new territory...