SR One
SR One is an independent biotechnology venture capital firm, spun out from GlaxoSmithKline in 2020, that invests across stages in biotech companies translating innovative science into medicines. Operating transatlantically from Redwood City and London, it manages $1.1B across two funds.
- Company typePrivate
- Founded2020
- HeadquartersCambridge, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What SR One does
SR One is an independent biotechnology venture capital firm that was spun out from GlaxoSmithKline in November 2020, originally founded in 1985 as GSK's corporate venture arm. The firm invests across stages (seed/Series A through crossover and post-IPO) in biotech companies developing innovative science into medicines, with a stated "back-and-build" approach focused on companies with strong fundamentals, clearly defined development pathways, and novel disease approaches. Its portfolio spans 50+ companies across therapeutic areas including oncology, fibrosis, respiratory, dermatology, gene therapy, and obesity, with historical exits including MyoKardia ($13.1B to BMS), Turning Point Therapeutics ($4.1B to BMS), Principia Biopharma ($3.7B to Sanofi), and Audentes ($3B to Astellas).
The firm operates from two offices — Redwood City, California and London, UK — providing transatlantic access to the two largest Western biotech ecosystems. It has raised $500M for Fund I at spin-out and $600M for Fund II in March 2023, totaling approximately $1.1B in committed capital. The team is small (11-50 employees) and structured around core investing personnel (CEO, COO/Managing Partner, Partners, Principals, Associates), a venture partner network, and three formal operating partners dedicated to portfolio value creation, capital raising, and business development. The firm is registered with the US SEC as an investment adviser (SR One Capital Management, LP, Delaware) and its UK affiliate (SR One Capital LLP) is an appointed representative of Langham Hall Fund Management LLP, authorized and regulated by the Financial Conduct Authority.
Revenue is generated through traditional VC mechanics: management fees on committed capital (typically 1.5-2.5% annually) and carried interest on fund returns from successful portfolio exits. Fund terms and LP identities are privately negotiated and not publicly disclosed. Distribution of capital occurs via direct equity investments into portfolio companies, sourced through the firm's transatlantic presence and industry network, with deal activity spanning lead and co-lead roles in rounds ranging from Series A through post-IPO follow-on offerings.
SR One firmographics
Firmographics- Name
- SR One
- Legal name
- SR One Capital Management, LP
- Website
- https://srone.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- SR One is an independent biotechnology venture capital firm, spun out from GlaxoSmithKline in 2020, that invests across stages in biotech companies translating innovative science into medicines. Operating transatlantically from Redwood City and London, it manages $1.1B across two funds.
- Ownership category
- akta.pro rank
SR One industry classification
Industry- Product category
- Biotechnology Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Healthcare & Life Sciences Growth Equity (FSANACAB)
- akta.pro secondary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where SR One is headquartered
LocationHeadquarters
- HQ city
- Cambridge
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
SR One business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Investment Returns (Carried Interest): SR One generates returns through successful portfolio company exits via IPOs and acquisitions, with carried interest on fund returns. Notable exits include Princiia Biopharma (acquired by Sanofi for $3.7B), Turning Point Therapeutics (acquired by Bristol Myers Squibb for $4.1B), MyoKardia (acquired by Bristol Myers Squibb for $13.1B), Audentes Therapeutics (acquired by Astellas for $3B), and others.
- Management Fees: VC firms typically charge management fees on committed capital under management. SR One raised an initial $500M at spinout from GSK in 2020 and closed Fund II at $600M.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
SR One product offering
Product offeringCore offering
SR One is an independent biotechnology venture capital firm that invests capital and provides strategic partnership and operational support to early and late-stage biotech companies developing innovative medicines. The firm manages dedicated venture funds (Fund I at $500M raised at 2020 GSK spinout and Fund II at $600M closed in 2023) and takes a 'back-and-build' approach focused on companies with strong fundamentals, defined development pathways, and novel disease approaches.
Product overview
SR One is a biotechnology venture capital firm that provides investment capital and strategic partnership services to early and late-stage biotech companies. Rather than developing and commercializing its own therapeutic products, SR One serves as a financial partner to founders and entrepreneurs working to translate innovative science into medicines. The firm takes a back-and-build approach to investments, focusing on companies with strong underlying fundamentals, clearly defined development pathways, and novel approaches to addressing diseases. SR One does not offer standalone software products or technology platforms; its offering consists of venture capital investment, operational expertise, and strategic guidance to its portfolio companies.
Differentiator
Problem solved
Functional benefit
Products and services
- SR One Fund I SR One's first independent venture fund of $500M raised at the firm's spinout from GlaxoSmithKline in November 2020, deployed across early- and late-stage biotech equity investments in companies with strong fundamentals, defined development pathways, and novel disease approaches. Available for limited partner commitments from institutional investors.
- SR One Fund II SR One's second venture fund of $600M closed in March 2023, continuing the firm's transatlantic biotech investment strategy across early- and late-stage companies developing novel therapeutics. Available for limited partner commitments from institutional investors.
- Strategic Partnership and Operational Support to Portfolio Companies Operating Partners and the investing team deliver portfolio value creation, capital raising, and business development support to biotech portfolio companies across the firm's transatlantic footprint, supplementing capital with operational expertise and geographic reach. Targeted at founders and management teams of biotech companies in the SR One portfolio.
Companies that use SR One
Customer profileSegments2 records
Ideal customer profiles2 records
SR One technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
SR One partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- S.R. One International B.V.coreGSK Pakistan operates as a subsidiary of S.R. One International B.V. incorporated in the Netherlands, with GlaxoSmithKline plc in the United Kingdom as its ultimate parent company. This is the legacy corporate structure from which SR One Capital Management was spun out.
- Wilson Sonsini Goodrich & RosatiminorWilson Sonsini advised SR One on Avenzo Therapeutics' $60 million Series B funding round, representing legal counsel support for portfolio company investments.
Scale indicators3 records
Recent moves8 records
Expansion highlights5 records
SR One competitors and assessment
Company assessmentDirect peers
- Atlas Venture: Atlas Venture is a leading biotech-focused early-stage venture firm that builds and funds therapeutic companies, often from inception. It is the closest comparable to SR One in fund size, healthcare-only mandate, and cross-Atlantic presence (Boston and London), making it SR One's most direct peer.
- ARCH Venture Partners: ARCH is a long-standing biotech VC investing across therapeutic platforms with multi-billion-dollar follow-on funds. SR One competes with ARCH for Series A and later-stage therapeutic rounds and shares a deep-science, crossover-tolerating investment style.
- OrbiMed: OrbiMed is one of the largest dedicated healthcare investors globally, deploying across stages from venture through public markets. SR One has co-invested with OrbiMed on rounds such as Windward Bio, making it a frequent peer and occasional co-investor in biotech financings.
- Frazier Life Sciences: Frazier Life Sciences is a healthcare-dedicated VC investing across public and private biotech. SR One has co-invested with Frazier on Immutrin and AirNexis, reflecting closely overlapping theses in clinical-stage biotech.
- Versant Ventures: Versant is a healthcare-only venture firm with offices in North America and Europe and a track record of company creation in biotech. Its stage breadth and transatlantic footprint put it in direct competition with SR One for therapeutic financings.
- RA Capital Management: RA Capital is a healthcare-focused crossover and venture investor active from Series A through public markets. SR One has co-invested with RA on Corxel Pharmaceuticals, Poplar Therapeutics, and other deals, indicating close peer overlap in biotech financings.
- 5AM Ventures: 5AM is an early-stage biotech venture firm financing transformative life-science companies. It overlaps with SR One in seed-to-Series A therapeutic company creation, although it operates at a smaller scale.
Broad incumbents
- New Enterprise Associates (NEA): NEA is a multi-stage generalist firm with a deep healthcare practice and prior employer of several SR One team members including Jake Nunn and Sasha Keough. It is a broader peer that overlaps with SR One in biotech venture and crossover rounds.
- Venrock: Venrock is a long-tenured multi-stage VC with a sizable healthcare practice that invests from Series A onward in biotech. It is comparable to SR One in therapeutic investing but operates a broader, generalist fund structure.
Emerging players
- Sanofi Ventures: Sanofi Ventures is the corporate venture arm of Sanofi that invests in early-stage biotech relevant to Sanofi's therapeutic strategy. As a CVC with similar biotech-stage focus, it is a comparable emerging player to SR One's heritage as a GSK venture spinoff.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
SR One social profiles
Digital presenceSR One compliance and trust
Trust signalCompliance1 record
SR One financial estimates
Financial estimateRevenue estimate
Valuation estimate
SR One leadership team
Management profileNumber of profiles
Profiles12 records
SR One funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SR One M&A and investment
M&A and investmentM&A
Investments233 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SR One
What does SR One do?
SR One is an independent biotechnology venture capital firm that invests capital and provides strategic partnership and operational support to early and late-stage biotech companies developing innovative medicines. The firm manages dedicated venture funds (Fund I at $500M raised at 2020 GSK spinout and Fund II at $600M closed in 2023) and takes a 'back-and-build' approach focused on companies with strong fundamentals, defined development pathways, and novel disease approaches.
Is SR One a public or private company?
SR One is a private company. It is classified as management employee owned and is currently operating.
When was SR One founded?
SR One was founded in 2020. It employs 11 to 50 people.
Where is SR One based?
SR One is headquartered in Cambridge, United States, in the North America region.
How does SR One make money?
Two revenue lines are on record. Investment Returns (Carried Interest) is the primary driver. The others are management Fees.
Who are SR One's main competitors?
Direct peers on record are Atlas Venture, ARCH Venture Partners, OrbiMed, Frazier Life Sciences, Versant Ventures, RA Capital Management and 5AM Ventures. Broad incumbents are New Enterprise Associates (NEA) and Venrock. Sanofi Ventures is listed as an emerging player.
Does SR One have an API?
No public API is recorded for SR One.
What industry is SR One in?
SR One's product category is Biotechnology Venture Capital. Its primary akta.pro industry code is FSANACAB, Healthcare & Life Sciences Growth Equity, with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 523940 and its SIC code is 6282.