BOSTON — Omega Funds, a global venture capital firm specializing in healthcare investments, has closed its eighth fund, raising $647 million in capital commitments—surpassing its original $600 million target. The new fund, Omega Fund VIII, L.P., drew strong support from both new and existing limited partners despite what the firm described as a challenging fundraising environment.
The Boston-based firm plans to use the capital to continue investing in transformative life sciences companies in the United States and Europe, with a focus on addressing severe and unmet medical needs across therapeutic areas such as oncology, immunology, rare diseases, medical devices, and precision medicine.
“We are very grateful to our investors for the support and trust, particularly given this exceptionally challenging fundraising environment,” said Otello Stampacchia, founder and managing director of Omega Funds. “By exceeding its target size, Fund VIII is a recognition of our investment strategy and track record of consistent exits across market cycles.”
Founded in 2004, Omega Funds has raised a total of $2.5 billion to date. The firm has a history of successful investments, having supported 52 commercialized products and notched 50 mergers and acquisitions, along with 47 public listings.
Recent exits from Omega’s portfolio include notable acquisitions and IPOs such as Scorpion Therapeutics (acquired by Eli Lilly), EyeBio (acquired by Merck), Imago BioSciences (acquired by Merck), Amunix Pharmaceuticals (acquired by Sanofi), and Beta Bionics, Bicara Therapeutics, and Upstream Bio, all of which recently went public.
“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 at Omega Funds. “We believe our broad investment strategy is well-positioned for navigating this period of macro and policy uncertainty.”
Omega Funds plans to continue partnering with founders, co-investors, and the broader healthcare community to advance breakthrough therapies and redefine standards of care in serious diseases.
