SR One Capital Management, a transatlantic biotech VC firm that spun out of GlaxoSmithKline, has closed on more than $600 million for its second fund, beating its $500 million target.
Fund II’s limited partners include 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,” SR One co-founder and CEO Simeon George said in a statement. “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.”
Kirkland & Ellis acted as counsel to SR One for the fundraise.
After spinning out of GSK in 2020, SR One raised a debut fund of $500 million. It has since founded and/or invested in more than 20 companies. SR One is based in the San Francisco Bay area, with offices in Redwood City, California, Philadelphia and London.