Wellington wraps up sophomore biomedical fund at $476m

Wellington Biomedical Innovation II will focus on backing private biotech companies.

  • The fund’s limited partners include insurance companies, foundations, family offices, and a sovereign wealth fund
  • In 2019, Wellington closed its inaugural biomedical fund at about $394 million
  • Headquartered in Boston, Wellington manages more than $1.1 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients

Wellington Management has closed its second biomedical fund at about $476 million.

Wellington Biomedical Innovation II will focus on backing private biotech companies.

The fund’s limited partners include insurance companies, foundations, family offices, and a sovereign wealth fund.

On the fundraising, I-Hung Shih, co-head, Biotech Private Investments at Wellington Management, said in a statement, “We think there is an accelerated pace of innovation underway within biotech and life sciences companies across developed and emerging markets. The rise of new and changing global demographics coupled with breakthrough drugs, therapies and preventative care are driving secular long-term growth. We see an exciting set of investment opportunities with potential to become industry leaders capable of transforming the standard of medicine as we know it.”

In 2019, Wellington closed its inaugural biomedical fund at about $394 million.

Headquartered in Boston, Wellington manages more than $1.1 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients.

The Wellington Private Investing platform has raised over $7.5 billion in global assets to invest across geographies (Asia, Europe, and the Americas) and sectors (consumer, technology, health care, financial services, biotechnology, and climate technology).