“VC firms are raising fewer, larger funds—and concentrating early-stage bets on teams that can scale science into platforms. For founders, the bar to raise a successful Series A is higher but clearer.”
— Bain & Company, Global Venture Capital Outlook 2025 (source)

If you’re raising a Series A in the U.S., it is essential to understand how American venture firms evaluate the team, risk, timing, and upside potential. At Series A the focus shifts from possibility to probability, from potential to plan.

In this INSIGHTS session, Craig Asher, co-founder and managing partner of OMX Ventures. will share how U.S. venture firms evaluate early-stage life science companies, what separates a pass from a pre-term sheet deep dive, and how founders can navigate the often-unspoken decision criteria behind a successful Series A raise.

Craig Asher helped build a portfolio of 27 early-stage companies across therapeutics, bio tools, synthetic biology, and diagnostics, guiding them toward transformative milestones and favorable exits.

Before launching OMX Ventures with a $150m fund in 2020, Craig had a successful track record as an early-stage biotech investor. From 2009 to 2020, he partnered with management teams at QuantaLife, 10X Genomics, Twist Bioscience, Ginkgo Bioworks, and CD Diagnostics, helping these companies grow into industry leaders. These investments, centered on generating and applying high-quality biological data, returned 4x net to Craig and his investor syndicate. Craig’s early experiences as a manufacturing engineer, followed by roles at Trigo Technologies (later IBM), helped shape his expertise in data systems and predictive algorithms—foundations that continue to inform his approach to biotech investment.

Craig graduated from Stanford University and earned an MBA and MS in Industrial Engineering from Northwestern University. Outside of OMX, he enjoys studying biology and chemistry, traveling (fluent in French, German, and Spanish), running, visiting art museums, cheering for Fulham FC and the Washington Nationals, and exploring the intersection of science, business, and economics.