Jay Lichter, Avalon BioVentures CEO

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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