Venture Capital Firm Westlake Village BioPartners Raises $500M

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

Venture Capital Firm Westlake Village BioPartners Raises $500M
Photo by Vladimir Solomyani on Unsplash

Westlake Village BioPartners, the two-year-old Los Angeles venture capital firm investing in life science and therapeutic companies, has raised two new funds totaling $500 million. The announcement Tuesday brings the firm to $820 million in capital to date.

The first fund, called Opportunity 1, carves out $70 million for Westlake to invest Series B or later-stage rounds for companies they incubated or invested in previously.

Meanwhile, Westlake Village BioPartners 2 Fund is a $430 million stash for incubating and investing in about 12 Series A startups. The VC firm will also use that fund for other Series B or late-round investments.


"Los Angeles is an emerging biotech community that is fresh and exciting, and we are seeing an explosion of new startups in this region," said Westlake's co-founding managing director Beth Seidenberg in a statement.

According to a recent report from Biocom, the nonprofit tracking life science companies across California, L.A. County brought in over $1.1 billion in government funding last year — the most of any county in California. The industry also employed over 93,000 people in the county.

The firm has so far invested in three new companies using that larger fund — a gene therapy startup in San Diego and two L.A. companies.

One of those is ACELYRIN, a biopharma company focused on immunology that today launched with a Series A round backed by Westlake. The funding amount was not disclosed.

More than half of the 11 companies Westlake has invested in or incubated using its first fund, set up in 2018, are L.A.-based.

"We believe technology can come from anywhere, but our preference is to build companies in Los Angeles to help build out a new ecosystem," Seidenberg said. "With these two new funds, we will be managing more early stage venture capital solely from the greater Los Angeles area than any other firm."

https://twitter.com/frosebillington
francesca@dot.la

Subscribe to our newsletter to catch every headline.

Why Women’s Purchasing Power Is a Huge Advantage for Female-Led Leagues

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Why Women’s Purchasing Power Is a Huge Advantage for Female-Led Leagues
Samson Amore

According to a Forbes report last April, both the viewership and dollars behind women’s sports at a collegiate and professional level are growing.

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
LA Tech Week Day 5: Social Highlights
Evan Xie

L.A. Tech Week has brought venture capitalists, founders and entrepreneurs from around the world to the California coast. With so many tech nerds in one place, it's easy to laugh, joke and reminisce about the future of tech in SoCal.

Here's what people are saying about the fifth day of L.A. Tech Week on social:

Read moreShow less

LA Tech Week: How These Six Greentech Startups Are Tackling Major Climate Issues

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

LA Tech Week: How These Six Greentech Startups Are Tackling Major Climate Issues
Samson Amore

At Lowercarbon Capital’s LA Tech Week event Thursday, the synergy between the region’s aerospace industry and greentech startups was clear.

The event sponsored by Lowercarbon, Climate Draft (and the defunct Silicon Valley Bank’s Climate Technology & Sustainability team) brought together a handful of local startups in Hawthorne not far from LAX, and many of the companies shared DNA with arguably the region’s most famous tech resident: SpaceX.

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
RELATEDEDITOR'S PICKS
Trending