Luma Group today announced the final close of its inaugural life sciences venture capital fund, totaling $410 million.
The New York-based investment firm has had a grip on life sciences since its founding in 2023. The fund unveiled today, LumaBio Fund I, includes investments already been made into more than 10 biotechs. They include the likes of eye disease-focused Character Biosciences, rebranded Belgian biotech Coultreon Biopharma and cellular rejuvenation company Altos Labs.
The fund saw early success when one of the companies it co-founded, called Vaccine Company, was picked up by Eli Lilly earlier this year for up to $1.55 billion. The acquisition of the in vivo nanoparticle technology-focused biotech formed part of a trio of vaccine buys for the Big Pharma, which has itself been on a prolonged spending spree in 2026.
Luma's fund is structured as a 15-year investment with plans to support groundbreaking science and support companies through key milestones from discovery to commercialization, Luma explained in the release.
"We founded Luma Group on the belief that extraordinary science, supported by patient, long-term capital, has the power to improve millions of lives," Joshua Fink, founder and managing member of Luma Group, said in the release. "This fund represents more than capital—it is a commitment to partnering with extraordinary innovators as they translate visionary science into life-changing medicines."