ARTICLE | Finance

Seeking deals from all areas of U.S. and Canada, Lumira raises $220M fourth fund

About 80% will go to therapeutics, the remainder to medtech

July 26, 2021 10:38 PM UTC

Canada’s Lumira Ventures expects to invest its largest fund yet across North America, with particular emphasis on geographies less well served by other biotech VCs. The firm believes it’s the largest institutional life sciences venture capital fund ever raised in Canada.

On Monday, Lumira announced its $220 million fourth fund, the firm’s first raised in U.S. dollars. The vehicle is roughly 55% larger than Lumira’s 2017-vintage, C$178.5 million ($142 million) third fund...