SR One
Description
SR One, originally established as the corporate venture capital arm of GlaxoSmithKline (GSK), boasts a rich history spanning over three decades in life sciences investing. In 2020, the firm underwent a significant transformation, spinning out from GSK to become an independent venture capital entity. This strategic move allowed SR One to broaden its investment mandate beyond GSK's direct strategic interests, while maintaining GSK as a key limited partner. The spin-out marked a new chapter, enabling the firm to pursue a wider array of innovative opportunities across the biotech and healthcare landscape.
As an independent firm, SR One continues its deep commitment to early-stage life sciences companies, primarily focusing on Seed, Series A, and Series B rounds. Their investment thesis centers on backing companies developing groundbreaking therapeutics, novel medical technologies, and transformative digital health solutions that address significant unmet medical needs. The firm leverages its extensive industry network, scientific expertise, and operational experience to support portfolio companies through critical development stages, from preclinical research to clinical trials and commercialization. They often seek to lead or co-lead investment rounds, providing substantial capital and strategic guidance.
A key milestone in SR One's independence was the successful close of its inaugural independent fund, SR One Capital Fund I, which secured $450 million in commitments in 2020. This substantial capital base underpins their ability to make meaningful investments in promising startups. Typically, SR One's initial cheque sizes for new portfolio companies range from $5 million to $15 million, reflecting their focus on providing significant early-stage capital to fuel innovation. Over its long history, including its time as a CVC, SR One has invested in over 100 companies, demonstrating a consistent track record of identifying and nurturing disruptive life science ventures. The firm maintains offices in key biotech hubs, including Cambridge, Massachusetts, and San Francisco, California, to remain close to innovation centers.
Investor Profile
SR One has backed more than 196 startups, with 9 new investments in the last 12 months alone. The firm has led 58 rounds, about 30% of its total and boasts 58 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Series B, Series A, Series C rounds (top funding stages).
- Majority of deals are located in United States, United Kingdom, Canada.
- Strong thematic focus on Biotechnology, Health Care, Therapeutics.
- Led 1 rounds in the past year.
- Typical check size: $5M – $15M.
Stage Focus
- Series B (27%)
- Series A (25%)
- Series C (19%)
- Series D (9%)
- Series Unknown (8%)
- Post Ipo Equity (4%)
- Series E (3%)
- Seed (2%)
- Private Equity (2%)
- Series F (1%)
Country Focus
- United States (75%)
- United Kingdom (15%)
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- Canada (3%)
- Switzerland (2%)
- Denmark (2%)
- Israel (1%)
- The Netherlands (1%)
- Japan (1%)
- Norway (1%)
- Belgium (1%)
Industry Focus
- Biotechnology
- Health Care
- Therapeutics
- Medical
- Pharmaceutical
- Life Science
- Biopharma
- Medical Device
- Health Diagnostics
- Oncology
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