23andMe Goes Public as $3.5 Billion Company With Branson Aid (3)

Consumer DNA-testing company 23andMe Inc. has entered into a deal to merge with VG Acquisition Corp., a special purpose acquisition company founded by billionaire Richard Branson.

The agreement values the Silicon Valley company at $3.5 billion, with Chief Executive Officer Anne Wojcicki and Branson each investing $25 million into a $250 million private investment in public equity offering. Bloomberg News reported news of a potential deal last week.

Other investors include Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital and Foresite Capital. Current shareholders of 23andMe will own 81% of the combined company, ...