San Diego, CA-based DNA sequencing company Illumina, Inc., (NASDAQ: ILMN) has committed to invest $100M in a new venture capital firm that is strategically aligned with its vision to improve human health by leveraging the genome potential.
Established by Nicholas Naclerio, Ph.D., Illumina’s former Senior Vice President, Corporate and Venture Development, Illumina Ventures will act as an independently managed firm that pursue investments in early stage companies:
– advancing new applications of nucleic acid sequencing,
– developing products that will expand the genomics ecosystem, and
– utilizing genomics to improve human health.
Illumina will be the majority limited partner in the first fund with a commitment of $100M, which will be callable by the fund over 10 years.