Editor’s note: African-Startups is a sister publication of EU-Startups, bringing trusted coverage of startups, venture capital, and innovation across Africa.
OneBio Venture Studio, a Cape Town-based BioTech-focused venture studio, has announced the first close of its second fund. The firm has secured over $5.95 million (R100 million) as it sets its sights on a $17.85 million (R300 million) final target by mid-2027.
The first close aligns with the investor confidence we have seen in Africa’s emerging BioTech ecosystem and is a significant step in OneBio’s mission to support BioTech and life science founders across the continent. The firm states the funds raised will allow the studio to identify and support the next wave of biotech and life science innovators.
“This capital allows us to continue backing the next generation of biotech and life science innovators,” the firm stated in a LinkedIn post.
It has also extended an open invitation to prospective limited partners aligned with its vision to join the fund as it actively works toward its final close.
OneBio Venture Studio was founded in 2018 by the late Michael Fichardt and Dr Nick Walker. It is not a traditional fund but operates at the intersection of venture capital and company building. It aims to co-create companies from the ground up by providing not just capital but operational support, scientific expertise, and go-to-market infrastructure.
It is a well-known fact that Africa’s biotech industry, despite its potential, has remained relatively underfunded and venture studios like OneBio are positioning themselves as partners who can bridge the gap in terms of capital and operational support. With the continent facing a distinctive set of public health challenges, firms like OneBio can eliminate the risk associated with early stage and allow conventional investors to come in later.
With the second fund now partially capitalised, OneBio can focus on deepening its portfolio and potentially help new ventures come to life. Its portfolio currently includes Biomine, Aspyre Foods, LifeQ, Altera, B-Phage, CureRoot, Metanoia, Pandora Health, among others.
This month has already seen Botswana Tech Fund launch $67.5 million venture fund and Secha Capital reach second close of its $40 million SME fund. OneBio announcing the first close of its fund shouldn’t come as a surprise. The African startup ecosystem is riding a wave of sectoral momentum, with healthcare and life sciences getting interest from both local and international limited partners.
With roughly a year to close the gap between its current raise and its $17.85 million goal, OneBio’s specialist approach to BioTech investing could resonate with investors willing to take a long-term view on returns from deep science ventures.
