Omega Funds closed its eighth venture fund at $647 million, matching its previous 2021 fund size and surpassing its $600 million target. The Boston and Geneva-based life sciences investor plans to continue backing innovative biotechs in the U.S. and Europe addressing severe unmet medical needs. Omega’s portfolio boasts 50 acquisitions and 47 IPOs, with recent successes including Scorpion Therapeutics and EyeBio. The fundraise comes amid a biotech venture capital downturn, highlighting Omega’s sustained market confidence and strategic positioning.