Flush with the success of portfolio company CG Oncology’s public debut, venture firm ORI Capital closed its second fund on Thursday at $260 million, exceeding its original target. In particular, ORI is eyeing next-generation small molecules, protein degraders, DNA and RNA therapies, immuno-oncology cell therapies, and synthetic biology.
ORI said AI will also be a big factor for its second fund, both to find investment opportunities, and as a target for said investments. The firm plans to use its ORIZON AI platform – which provides daily updates on more than 31,000 global healthcare companies, follows 62,000 key opinion leaders, and tracks the investment activities of 5000 fund managers – to source differentiated investments and partner with companies.
Companies with a smart combination of AI technology and science are also an attractive target for the firm.
“We are in a golden-era of innovation across the intersection of AI and biology, where technological breakthroughs are creating new approaches to diagnosing and treating disease,” said Simone Song, the firm’s founding partner. “We believe the current environment provides an attractive opportunity for investing in the next generation of leading biotech companies.”