OneBio Raises $6 Million to Transform Lab Research into Global Biotech Companies

Cape Town-based venture studio OneBio has announced a R100 million ($6 million) first close for its second fund, targeting R300 million ($18 million) by mid-2027. This positions the firm as a key player in deepening Africa’s biotechnology market—a sector that currently receives less than 5% of venture capital despite significant potential.

Addressing Critical Gaps in African Biotech

The founders, Michael Fichardt, Nick Walker, and Gian-Marco Melfi, are betting they can turn the constraints facing biology startups into an investment advantage. Unlike traditional VCs, OneBio operates as both investor and company builder—creating biotech ventures from scratch.

This approach tackles challenges like:

• Weak lab infrastructure: OneBio provides access to world-class facilities and expertise
• Fragmented regulation: The team navigates complex regulatory landscapes
• Limited clinical trial depth: They build partnerships for robust testing
• Shallow exit markets: By creating globally competitive companies, they expand potential acquirers

Track Record of Success Amidst Challenges

OneBio’s portfolio demonstrates both promise and the sector’s realities. While 16 investments have yielded 8 exits and 6 shutdowns, several ventures show strong traction:

• LifeQ: Raised over $47 million across two rounds and continues to generate revenue
• CapeBio: Capitalized on pandemic-era demand for diagnostics into a sustainable business
• Altera Biosciences: Recently secured pre-seed funding after showing promising early results

These successes validate OneBio’s model of combining capital with hands-on company building—a strategy inspired by US firms like Flagship Pioneering but adapted to Africa’s unique context.

OneBio’s first close represents a milestone for African deep science, suggesting that venture capital may be expanding beyond fintech and e-commerce to include more complex industries requiring longer development cycles. If this model proves sustainable, it could signal a broader shift in how investors view scientific innovation on the continent.