Omega Funds Closes Oversubscribed $647 Million Fund VIII to Invest in Transformative Life Science Companies
Omega Funds, a leading international healthcare venture capital firm focused on delivering impactful medicines to patients, today announced the closing of its eighth fund with $647 million in capital commitments. The new fund, Omega Fund VIII, L.P. ("Fund VIII"), was oversubscribed, exceeding its target of $600 million, garnering strong support from both new and existing limited partners. With Fund VIII, the firm will continue to execute its strategy of creating and investing in innovative life sciences companies in the U.S. and Europe that target severe, unmet medical needs.
Since its inception in 2004, Omega Funds has raised $2.5 billion to invest in exceptional entrepreneurs developing innovative products across multiple therapeutic areas, including oncology, immunology, rare diseases, medical devices, and precision medicine.
Fund VIII builds upon the prior success of Omega Funds, resulting in 52 commercialized products being brought to market by Omega portfolio companies. The firm's investments have resulted in 50 exits via M&A, and 47 public listings. Omega's recent M&A exits and IPOs include SoniVie (acquired by Boston Scientific), Scorpion Therapeutics (acquired by Eli Lilly), Kestra Medical Technologies (NASDAQ:KMTS), Beta Bionics (NASDAQ:BBNX), Upstream Bio (NASDAQ:UPB), Bicara Therapeutics (NASDAQ:BCAX), Morphic Therapeutic (NASDAQ:MORF, acquired by Eli Lilly)), EyeBio (acquired by Merck), Imago BioSciences (NASDAQ:IMGO, acquired by Merck)), Amunix Pharmaceuticals (acquired by Sanofi), and Chord Therapeutics (acquired by Merck KGaA).
"We are very grateful to our investors for the support and trust, particularly given this exceptionally challenging fundraising environment. By exceeding its target size, Fund VIII is a recognition of our investment strategy and track record of consistent exits across market cycles," said Otello Stampacchia, Founder and Managing Director of Omega Funds. "We appreciate the partnership from both our longstanding and new limited partners."
"As with prior funds, Fund VIII will support management teams in the U.S. and Europe through company creation, early venture rounds, and later-stage financings," said Francesco Draetta, Managing Director of Omega Funds. "We believe our broad investment strategy is well-positioned for navigating this period of macro and policy uncertainty. We look forward to contributing our capital, expertise, and network connectivity in partnering with entrepreneurs, founders, co-investors, and the broader community to transform the standards of care for severe diseases."
About Omega Funds
Founded in 2004, Omega Funds is a leading international venture capital firm that creates and invests in life sciences companies that target our world's most urgent medical needs. Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds' portfolio companies have brought 52 commercialized products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine, medical devices, and others. Please visit www.omegafunds.com for additional information.
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Media Contact:
Michael Beyer
Harbinger Group
Tel: 312-961-2502
E-mail: mikeb@theharbingergroup.com
Omega Contact:
Sean Cumiskey
Head of Investor Relations
Tel: 617-721-4388
E-mail: sc@omegafunds.com
