# SR One: portfolio, investments and team

> SR One is a corporate vc based in United States. 139 investments on record, 12 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/sr-one (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# SR One

Last cheque observed Oct 2026; 139 cheques on record.

Email

Deploying now New fund $237M, Oct 2025 Corporate VC

Seed Series A Series B Telehealth Health-tech Well-being

Follow SR One and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fsr-one)

Deploying now

**67%** of best year **12** **cheques in 12 months**, 139 on record

Since the last cheque **2** days **00** hrs **00** min **00** sec

Median round **$66M** Rounds led **2 of 139** Sole investor **5 rounds** Exits **7 from the portfolio** Mostly in **United States, 68%**

Pitch SR One

## SR One highlights

- 01 12 cheques in the last 12 months
- 02 Mostly Series B and Series A: 65% of its rounds
- 03 Sole investor in 5 rounds, median $1.5M
- 04 7 exits from the portfolio

## What they do

> A biotechnology venture capital firm, partnering with founders and entrepreneurs to translate innovative science into medicines. From their own website

- **Type:** Corporate VC (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Telehealth Health-tech Well-being
- **Based in:** San Francisco, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **139 appearances**

- **2026** 11 rounds
- **Oct** **[Dren Bio](https://millionrounds.com/company/dren-bio)** US · Wowtale **$350M** With 13 others
- **Jul** **[Crystalys Therapeutics](https://millionrounds.com/company/crystalys-therapeutics)** Series B · Frazier Life Sciences **$130M** With 10 others
- **Jul** **[FORE Biotherapeutics](https://millionrounds.com/company/fore-biotherapeutics)** Series D · US · Ventureburn **$67M** *Led*
- **Jul** **[Draig Therapeutics](https://millionrounds.com/company/draig-therapeutics)** Series B · GB · Jefferson Life Sciences **$65M** With 6 others
- **Jul** **[Spero Therapeutics](https://millionrounds.com/company/spero-therapeutics)** Debt · US · HealthCare Royalty **$105M** With 3 others
- **Apr** **[VeraDermics](https://millionrounds.com/company/veradermics)** US **$384M** With 3 others
- **Mar** **[Immutrin](https://millionrounds.com/company/immutrin)** Series A · GB **$87M** With 2 others
- **Jan** **[Alumis](https://millionrounds.com/company/alumis)** US **$345M** With 6 others
- **Jan** **[AirNexis Therapeutics](https://millionrounds.com/company/airnexis-therapeutics)** Series A · US **$200M** With 2 others
- **Jan** **[CORXEL Pharmaceuticals](https://millionrounds.com/company/corxel-pharmaceuticals)** Series D **$287M** With 5 others
- **Jan** **[Poplar Therapeutics](https://millionrounds.com/company/poplar-therapeutics)** Series A · US **$50M** With 1 other
- **2025** 13 rounds
- **Dec** **[Addition Therapeutics](https://millionrounds.com/company/addition-therapeutics)** Series A · US **$100M** Sole investor
- **Oct** **[VeraDermics](https://millionrounds.com/company/veradermics)** Series C · US **$150M** With 2 others
- **Oct** **[MISSION Therapeutics](https://millionrounds.com/company/mission-therapeutics)** Venture · GB **$13M** With 3 others
- **Oct** **[Zenas BioPharma](https://millionrounds.com/company/zenas-biopharma)** US **$120M** With 4 others
- **Sept** **[ARS Pharmaceuticals](https://millionrounds.com/company/ars-pharmaceuticals)** Debt · US **$100M** With 2 others
- **Sept** **[Odyssey Therapeutics](https://millionrounds.com/company/odyssey-therapeutics)** Series D · US **$213M** With 4 others
- **Sept** **[Crystalys Therapeutics](https://millionrounds.com/company/crystalys-therapeutics)** Series A · US **$205M** With 3 others
- **Sept** **[Avenzo Therapeutics](https://millionrounds.com/company/avenzo-therapeutics)** Series B · US **$60M** With 5 others
- **Jun** **[Draig Therapeutics](https://millionrounds.com/company/draig-therapeutics)** Series A · GB **$140M** With 2 others
- **May** **[Fore Biotherapeutics](https://millionrounds.com/company/fore-biotherapeutics)** Series D · US **$40M** With 3 others
- **May** **[ORIC Pharmaceuticals](https://millionrounds.com/company/oric-pharmaceuticals)** US **$125M** With 3 others
- **Feb** **[ADARx Pharmaceuticals](https://millionrounds.com/company/adarx-pharmaceuticals)** Venture · US **Undisclosed** With 6 others
- **Jan** **[Windward Bio](https://millionrounds.com/company/windward-bio)** Series A · CH **$200M** With 4 others
- **2024** 9 rounds
- **Dec** **[Antag Therapeutics](https://millionrounds.com/company/antag-therapeutics)** Series A · DK **$84M** With 4 others
- **Dec** **[Akamis Bio](https://millionrounds.com/company/akamis-bio)** Series A · GB **$60M** With 2 others
- **Sept** **[Nomic](https://millionrounds.com/company/nomic)** Series B · CA **$42M** With 2 others
- **Aug** **[Elektrofi](https://millionrounds.com/company/elektrofi)** Series C · US **$112M** With 5 others
- **Jul** **[Renalys Pharma](https://millionrounds.com/company/renalys-pharma)** Series A · JP **$39M** With 1 other
- **Jul** **[Asceneuron](https://millionrounds.com/company/asceneuron)** Series C · CH **$100M** With 4 others
- **Jul** **[Dren Bio](https://millionrounds.com/company/dren-bio)** Venture · US **$25M** With 4 others
- **May** **[Zenas BioPharma](https://millionrounds.com/company/zenas-biopharma)** Series C · US · Tellus BioVentures **$200M** *Led*
- **Jan** **[Effector Therapeutics](https://millionrounds.com/company/effector-therapeutics)** US **$15M** With 2 others
- **2023** 2 rounds
- **Nov** **[Arcellx](https://millionrounds.com/company/arcellx)** US **$200M** With 4 others
- **May** **[Morphic Therapeutic](https://millionrounds.com/company/morphic-therapeutic)** US **$276M** With 5 others
- **2022** 5 rounds
- **Dec** **[Pulmocide](https://millionrounds.com/company/pulmocide)** Series C · GB **$52M** With 3 others
- **Sept** **[Spero Therapeutics](https://millionrounds.com/company/spero-therapeutics)** US **$9.0M** With 3 others
- **Jun** **[Ancora Biotech](https://millionrounds.com/company/ancora-biotech)** Series A · US **$60M** With 1 other
- **Jun** **[MiroBio](https://millionrounds.com/company/mirobio)** Series B · GB **$97M** With 3 others
- **Jan** **[Simcha Therapeutics](https://millionrounds.com/company/simcha-therapeutics)** Series B · US **$40M** 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

Named by the firm itself, on a filing, its Form ADV or its company registration **5 named**

JC **James Chalmers Macadam** CFO i Form ADV

MF **Matthew Foy** Partner of GP i Filing they signed

RD **Rajeev Dadoo** Limited Partner; Managing Partner; COO i Form ADV

SO **Sasha Oshrine Keough** CCO i Form ADV

SJ **Simeon John George** Managing Member of the Ultimate Managing Member i Filing they signed

We also hold **17** 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

**$2.4B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** SR ONE Capital Management, LP
- **SEC number:** CRD 306361

Funds on its Form ADV

**17** private funds, **$1.6B** in gross assets · filed Jul 2024

- SR One Capital Fund II Aggregator, L.P. *Private equity* 69 investors $580M
- SR One Capital Fund I Aggregator, L.P. *Private equity* 34 investors $505M
- SR One Capital Opportunities Fund I, L.P. *Private equity* 7 investors $203M
- AMZL, L.P. *Private equity* 2 investors $150M
- SR One Co-Invest II, LLC *Private equity* 2 investors $65M
- SR One Co-Invest III, LLC *Private equity* 2 investors $18M
- SR One Co-Invest IV, LLC *Private equity* 2 investors $18M
- SR One Co-Invest XI, LLC *Private equity* 5 investors $15M
- SR One Co-Invest IV-A, LLC *Private equity* 4 investors $11M
- SR One Co-Invest VI, LLC *Private equity* 2 investors $5.5M

And 7 more on the filing.

Who backs their funds

## 1 LP on record in SR One's funds

- **Committed:** $841M
- **Funds:** 4
- **Vintages:** 2023 to 2025

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Mar 2026.

- [**California Public Employees' Retirement System (CalPERS)** 4 funds *$841M*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed SR One Capital Fund III 2025 $79M AMZL 2023 $600M SR One Capital Fund II-A 2023 $90M SR One Capital Opportunities Fund I 2023 $72M

## Exits from the portfolio

Companies it backed that were later bought or listed **7 in all**

**[Alios BioPharma](https://millionrounds.com/company/alios-biopharma)** Bought by [Johnson & Johnson](https://millionrounds.com/fund/johnson-and-johnson) **$1.8B** Sept 2014

**[iPierian](https://millionrounds.com/company/ipierian)** Bought by [Bristol-Myers Squibb](https://millionrounds.com/fund/bristol-myers-squibb) **$175M** Apr 2014

**[NuPathe](https://millionrounds.com/company/nupathe)** Bought by Endo Health Solutions **$105M** Dec 2013

**[Syntaxin](https://millionrounds.com/company/syntaxin)** Bought by [Ipsen](https://millionrounds.com/fund/ipsen) **$206M** Jul 2013

**[Semprus BioSciences](https://millionrounds.com/company/semprus-biosciences)** Bought by Teleflex **$30M** Jun 2012

**[NuPathe](https://millionrounds.com/company/nupathe)** Listed **Undisclosed** Aug 2010

**[Ablynx](https://millionrounds.com/company/ablynx)** Listed **Undisclosed** Nov 2007

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$237M**

raised in Oct 2025

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$66M** the round, not its cheque Alone, median **$1.5M**

Led 2 of 139 rounds **1%**

- **Sole investor:** 5 rounds
- **Last cheque:** Oct 2026
- **Exits:** 7 from the portfolio

Rounds by stage said on their site

- Series B said *36*
- Series A said *35*
- Series C *20*
- Series D *11*
- Venture *8*
- Seed said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [OrbiMed](https://millionrounds.com/fund/orbimed) 15
- [Atlas Venture](https://millionrounds.com/fund/atlas-venture) 13
- [Novartis Venture Fund](https://millionrounds.com/fund/novartis-venture-fund) 10
- [Novo Holdings](https://millionrounds.com/fund/novo-ventures) 9
- [Roche Venture Fund](https://millionrounds.com/fund/roche-venture-fund) 8
- [Abingworth](https://millionrounds.com/fund/abingworth) 7

**Pitching SR One?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as SR One. A count of rooms they were both in, not a relationship either has claimed.

[**OrbiMed** Private equity **15** rounds together](https://millionrounds.com/fund/orbimed)[**Atlas Venture** VC firm **13** rounds together](https://millionrounds.com/fund/atlas-venture)[**Novartis Venture Fund** Corporate VC **10** rounds together](https://millionrounds.com/fund/novartis-venture-fund)[**Novo Holdings** VC firm **9** rounds together](https://millionrounds.com/fund/novo-ventures)[**Roche Venture Fund** Corporate VC **8** rounds together](https://millionrounds.com/fund/roche-venture-fund)[**Abingworth** VC firm **7** rounds together](https://millionrounds.com/fund/abingworth)[**Cormorant Asset Management** Private equity **7** rounds together](https://millionrounds.com/fund/cormorant-asset-management)[**GlaxoSmithKline** VC firm **7** rounds together](https://millionrounds.com/fund/glaxosmithkline)[**Johnson & Johnson Development Corporation (JJDC)** VC firm **7** rounds together](https://millionrounds.com/fund/johnson-and-johnson-development-corporation)[**Kleiner Perkins Caufield & Byers** VC firm **7** rounds together](https://millionrounds.com/fund/kleiner-perkins-caufield-and-byers)[**New Enterprise Associates** VC firm **7** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**Sofinnova Partners** VC firm **7** rounds together](https://millionrounds.com/fund/sofinnova-partners)

## Recently backed

The latest companies SR One put money into.

[**Dren Bio** $350M · Oct 2026](https://millionrounds.com/company/dren-bio)[**FORE Biotherapeutics** $67M · Jul 2026](https://millionrounds.com/company/fore-biotherapeutics)[**Draig Therapeutics** $65M · Jul 2026](https://millionrounds.com/company/draig-therapeutics)[**Spero Therapeutics** $105M · Jul 2026](https://millionrounds.com/company/spero-therapeutics)[**VeraDermics** $384M · Apr 2026](https://millionrounds.com/company/veradermics)[**Alumis** $345M · Jan 2026](https://millionrounds.com/company/alumis)

## Quick answers about SR One

### What does SR One invest in?

SR One invests most often at Series B and Series A (65% of the rounds on record), in sectors such as Telehealth, Health-tech and Well-being.

### How active is SR One?

139 investments on record, 12 of them in the last 12 months, and it led 2. The most recent was in Oct 2026.

### What has SR One invested in recently?

Its most recent investments on record: Dren Bio (Undisclosed round, Oct 2026), Crystalys Therapeutics (Series B, Jul 2026) and FORE Biotherapeutics (Series D, Jul 2026).

### How big are SR One's cheques?

The median round it joins is $66M.

### Does SR One lead rounds?

Sometimes: it led 2 of its 139 investments on record (1%).

### Where does SR One invest?

Most of the companies it backs are in the United States (68%), the United Kingdom (18%) and Switzerland (5%).

### Is SR One investing now?

Yes: it is actively investing, with 12 investments in the last 12 months.

### Who does SR One invest alongside?

Most often OrbiMed (15 rounds together), Atlas Venture (13 rounds together) and Novartis Venture Fund (10 rounds together).

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