Avalon Ventures spins off a separate fund to handle life science companies — armed with $135M
Avalon Ventures has been a major player in the investing games both in tech and in the biotech world, but now a new fund will be zeroed in on investing in the life science field.
Christened Avalon BioVentures, the venture capital firm will be committed to investing in early-stage biomedical companies and has officially closed the fund with $135 million on hand from new and existing investors. The company will be focused specifically on the life science space only and emerging from Avalon’s tech and life science approach. The company will continue to “leverage” Avalon’s team and accelerator; Avalon founder Kevin Kinsella will be brought in as an emeritus partner.
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