# Lilly Ventures: portfolio, investments and team > Lilly Ventures is a corporate vc based in United States. 28 investments on record, latest Oct 2025. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/lilly-ventures (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Lilly Ventures Last cheque observed Oct 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Email Corporate VC Quiet Debt Growth Seed Health Care Health Diagnostics Impact Investing Follow Lilly Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Flilly-ventures) Cheques on record **0%** of best year **0** **cheques in 12 months**, 28 on record Since the last cheque **380** days **00** hrs **00** min **00** sec Median round **$45M** Rounds led **0 of 28** Exits **4 from the portfolio** Mostly in **United States, 93%** Pitch Lilly Ventures ## Lilly Ventures highlights - 01 28 rounds on record - 02 Mostly Series B and Series D: 50% of its rounds - 03 4 exits from the portfolio ## What they do - **Type:** Corporate VC (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Debt Growth Seed Series A - **Sectors:** Health Care Health Diagnostics Impact Investing - **Based in:** Indianapolis, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **28 appearances** - **2025** 1 round - **Oct** **[NewLimit](https://millionrounds.com/company/newlimit)** US · Ventureburn **$45M** With 11 others - **2013** 3 rounds - **Nov** **[Aileron Therapeutics](https://millionrounds.com/company/aileron-therapeutics)** Series E · US · finsmes.com **$30M** With 5 others - **Jun** **[Protagonist Therapeutics](https://millionrounds.com/company/protagonist-therapeutics)** Series B · AU · protagonist-inc.com **$14M** With 2 others - **Jan** **[Aileron Therapeutics](https://millionrounds.com/company/aileron-therapeutics)** Series D · US · finsmes.com **$12M** With 5 others - **2012** 3 rounds - **May** **[Sutro Biopharma](https://millionrounds.com/company/sutro-biopharma)** Series C · US · finance.yahoo.com **$17M** With 4 others - **Mar** **[Receptos](https://millionrounds.com/company/receptos)** Venture · US **$30M** With 5 others - **Mar** **[HemaQuest Pharmaceuticals](https://millionrounds.com/company/hemaquest-pharmaceuticals)** Series B · US · hemaquest.com **$13M** With 4 others - **2011** 2 rounds - **Dec** **[Cerulean Pharma](https://millionrounds.com/company/cerulean-pharma)** Series D · US · finsmes.com **$15M** With 4 others - **Jun** **[Nimbus Therapeutics](https://millionrounds.com/company/nimbus-therapeutics)** Series A · US · xconomy.com **$24M** With 2 others - **2010** 4 rounds - **Nov** **[Sutro Biopharma](https://millionrounds.com/company/sutro-biopharma)** Series C · US · finsmes.com **$37M** With 4 others - **Nov** **[Cerulean Pharma](https://millionrounds.com/company/cerulean-pharma)** Series C · US · finsmes.com **$24M** With 4 others - **Sept** **[Cylene Pharmaceuticals](https://millionrounds.com/company/cylene-pharmaceuticals)** Series D · US · socaltech.com **$12M** With 6 others - **Apr** **[HemaQuest Pharmaceuticals](https://millionrounds.com/company/hemaquest-pharmaceuticals)** Series B · US · fiercebiotech.com **$12M** With 3 others - **2009** 8 rounds - **Dec** **[FORMA Therapeutics](https://millionrounds.com/company/forma-therapeutics)** Series B · US · masshightech.com **$3.0M** With 3 others - **Dec** **[FORMA Therapeutics](https://millionrounds.com/company/forma-therapeutics)** Series B · US · altassets.com **$26M** With 3 others - **Nov** **[Receptos](https://millionrounds.com/company/receptos)** Series A · US · fiercebiotech.com **$25M** With 3 others - **Nov** **[Trinity Biosystems](https://millionrounds.com/company/trinity-biosystems)** Debt · US · deals.venturebeat.com **$7.5M** With 4 others - **Jul** **[Viamet Pharmaceuticals](https://millionrounds.com/company/viamet-pharmaceuticals)** Series B · US · sec.gov **$25M** With 6 others - **Jun** **[Aileron Therapeutics](https://millionrounds.com/company/aileron-therapeutics)** Series D · US · zibb.com **$40M** With 6 others - **May** **[Avid Radiopharmaceuticals](https://millionrounds.com/company/avid-radiopharmaceuticals)** Series D · US · avidrp.com **$35M** With 7 others - **Jan** **[Intradigm Corporation](https://millionrounds.com/company/intradigm-corporation)** Series B · US · fiercebiotech.com **$21M** With 7 others - **2007** 3 rounds - **May** **[Avid Radiopharmaceuticals](https://millionrounds.com/company/avid-radiopharmaceuticals)** Series C · US · avidrp.com **$26M** With 5 others - **Jan** **[Cylene Pharmaceuticals](https://millionrounds.com/company/cylene-pharmaceuticals)** Series C · US · rctech.com **$44M** With 7 others - **Jan** **[Fluidigm](https://millionrounds.com/company/fluidigm)** Series E · US · deals.venturebeat.com **$17M** With 9 others - **2006** 4 rounds - **Sept** **[Protagonist Therapeutics](https://millionrounds.com/company/protagonist-therapeutics)** Series A · AU · protagonist-inc.com **$9.0M** With 2 others - **Apr** **[MedManage Systems](https://millionrounds.com/company/medmanage-systems)** Series D · US · biospacejobs.com **$11M** With 3 others - **Feb** **[InnoCentive](https://millionrounds.com/company/innocentive)** Series A · US · innocentive.com **$9.0M** With 2 others - **Jan** **[Avid Radiopharmaceuticals](https://millionrounds.com/company/avid-radiopharmaceuticals)** Series A · US · avidrp.com **$8.9M** With 3 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team We hold **4** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **1+** funds on file numbered funds in its name ## Exits from the portfolio Companies it backed that were later bought or listed **4 in all** **[Receptos](https://millionrounds.com/company/receptos)** Bought by [Celgene](https://millionrounds.com/fund/celgene) **$7.3B** Jul 2015 **[Avid Radiopharmaceuticals](https://millionrounds.com/company/avid-radiopharmaceuticals)** Bought by [Eli Lilly](https://millionrounds.com/fund/eli-lilly) **$800M** Nov 2010 **[Intradigm Corporation](https://millionrounds.com/company/intradigm-corporation)** Bought by [Silence Therapeutics](https://millionrounds.com/fund/silence-therapeutics) **Undisclosed** Dec 2009 **[MedManage Systems](https://millionrounds.com/company/medmanage-systems)** Bought by Physicians Interactive **Undisclosed** Apr 2009 An exit counts when it came after the firm's first round in the company. From historical deal records. ## The cheque Debt Growth Seed Median round joined **$45M** the round, not its cheque Led 0 of 28 rounds **0%** - **Sole investor:** Never alone - **Last cheque:** Oct 2025 - **Exits:** 4 from the portfolio Rounds by stage said on their site - Series B *7* - Series D *6* - Series C *5* - Series A said *5* - Series E *2* - Debt said *1* - Growth said *-* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Novartis Venture Fund](https://millionrounds.com/fund/novartis-venture-fund) 8 - [SR One](https://millionrounds.com/fund/sr-one) 5 - [Alta Partners](https://millionrounds.com/fund/alta-partners) 4 - [Roche Venture Fund](https://millionrounds.com/fund/roche-venture-fund) 4 - [Venrock](https://millionrounds.com/fund/venrock) 4 - [AllianceBernstein](https://millionrounds.com/fund/alliancebernstein) 3 **Pitching Lilly Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Lilly Ventures. A count of rooms they were both in, not a relationship either has claimed. [**Novartis Venture Fund** Corporate VC **8** rounds together](https://millionrounds.com/fund/novartis-venture-fund)[**SR One** Corporate VC **5** rounds together](https://millionrounds.com/fund/sr-one)[**Alta Partners** VC firm **4** rounds together](https://millionrounds.com/fund/alta-partners)[**Roche Venture Fund** Corporate VC **4** rounds together](https://millionrounds.com/fund/roche-venture-fund)[**Venrock** VC firm **4** rounds together](https://millionrounds.com/fund/venrock)[**AllianceBernstein** VC firm **3** rounds together](https://millionrounds.com/fund/alliancebernstein)[**Amgen** Corporate VC **3** rounds together](https://millionrounds.com/fund/amgen)[**Apple Tree Partners** VC firm **3** rounds together](https://millionrounds.com/fund/apple-tree-partners)[**Bio*One Capital** Corporate VC **3** rounds together](https://millionrounds.com/fund/bio-one-capital)[**BioAdvance** VC firm **3** rounds together](https://millionrounds.com/fund/bioadvance-capital)[**Excel Venture Management** VC firm **3** rounds together](https://millionrounds.com/fund/excel-venture-management-llc)[**Novartis Option Fund** Growth equity **3** rounds together](https://millionrounds.com/fund/novartis-option-fund) ## Recently backed The latest companies Lilly Ventures put money into. [**NewLimit** $45M · Oct 2025](https://millionrounds.com/company/newlimit) ## Quick answers about Lilly Ventures ### What does Lilly Ventures invest in? Lilly Ventures invests most often at Series B and Series D (50% of the rounds on record), in sectors such as Health Care, Health Diagnostics and Impact Investing. ### How active is Lilly Ventures? 28 investments on record, 0 of them in the last 12 months. The most recent was in Oct 2025. ### What has Lilly Ventures invested in recently? Its most recent investments on record: NewLimit (Oct 2025). ### How big are Lilly Ventures's cheques? The median round it joins is $45M. ### Does Lilly Ventures lead rounds? Rarely, if at all: none of its 28 investments on record names it as the lead. ### Where does Lilly Ventures invest? Most of the companies it backs are in the United States (93%) and Australia (7%). ### Is Lilly Ventures investing now? No investments in the last 12 months; the latest was in Oct 2025. ### Who does Lilly Ventures invest alongside? Most often Novartis Venture Fund (8 rounds together), SR One (5 rounds together) and Alta Partners (4 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=lilly-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=lilly-ventures)