Breakthrough Properties raises $3 billion to develop life science ecosystems Breakthrough PropertiesTishman Speyer, Bellco Capital and a joint venture based in Los Angeles, CA, closed the Breakthrough Life Science Property Fund at $3 billion.

The venture raised $3 billion in direct capital and co-investments, to scale a global portfolio of ecosystems for dynamic early-, mid-, and late-stage life science companies. The fund and co-investment capital was raised from a diverse group of institutional investors, sovereign wealth funds and high net worth individuals spanning four continents. Founded in 2019, Breakthrough will use the newly raised funds to finance its ongoing developments, which are in various stages of design, construction and pre-development, and fuel its pursuit of additional opportunities throughout the United States and Europe. Through a range of ground-up campus developments, lab conversions and StudioLabs, the company’s proprietary flex lab program geared toward hyper-growth startups, Breakthrough provides environments to the full spectrum of life science innovators — ranging from venture-backed discovery companies to established big pharma anchors. It will continue to leverage the market expertise and vast relationship networks of Tishman Speyer, Bellco Capital and its Scientific Advisory Board to create environments for leading biotechnology innovators and offers services to support their long-term business needs. Breakthrough’s Chief Executive Officer and Co-Founder Dan Belldegrun is leading the company. Breakthrough also has The 105 by Breakthrough Boston, which is fully leased by CRISPR Therapeutics. The building will be open later in the year. It broke ground in 2021 on the Torrey View by breakthrough development, a 515,000-square foot research and development campus that spans 10 acres in San Diego. This development was signed by the biosciences arm BD (Becton, Dickinson and Company). The Torrey Plaza campus, which is an office-to lab conversion in San Diego, has been leased to many innovative companies, such as Tandem Diabetes Care, Janux Therapeutics, and Protego Biopharma, Inc.

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