VC News | Oncology Ventures closes oversubscribed $30 million round
Nikon Corporation, through its Nikon Ventures Corporation, and Geodesic Capital HAVE launched NFocus Fund, an initiative funded at $51.5 million.
From New York City, NY:
Oncology Ventures has announced the close of its oversubscribed $30 million Fund I to invest in data-driven start-ups improving cancer care and research. With a strategic emphasis on driving commercialization success, Oncology Ventures aims to make cancer care more affordable, efficient, and accessible for patients and their families.
The firm is led by Ben Freeberg, a seasoned healthcare investor who is the Founder and Managing Partner. He previously served as Vice President at Optum Ventures and was the first hire at Alpha Partners. Additionally, his operational experience at cancer start-up Thyme Care and his personal experience as a cancer survivor uniquely position Freeberg to invest in and empower the next generation of cancer start-ups.
“Cancer care today is prohibitively expensive and overly complex. We will invest in cutting-edge data and AI solutions to tackle the most pressing challenges in oncology, from early detection to treatment optimization,” said Freeberg. “We are excited by the overwhelming support for our first fund to accelerate cancer innovation.”
The fund is backed by nine strategic investors (including Cardinal Health, City of Hope, and Moffitt Cancer Center) and a suite of institutional fund-of-funds, family offices, and individuals.
From Belmont, CA:
Nikon Corporation has announced that Nikon, through its Nikon Ventures Corporation, and Geodesic Capital launched NFocus Fund, an initiative funded at $51.5 million.
According to the news release from Nikon, the fund is tied to the corporation’s Medium-Term Management Plan (FY2022 – 2025) which calls for Nikon to become a key technology solutions company in a global society where humans and machines co-create seamlessly by 2030. In order to achieve this goal and further the growth of Nikon, NFocus Fund will invest in early to mid-stage start-ups and collaborate with partners to enhance Nikon’s technological innovation in several fields of strategic interest. Those areas were not identified.
From Atlanta, GA:
Terminus Capital Partners announced John Ale as its new Managing Partner. The two-time graduate of the University of Virginia moves over to Terminus from Noro-Moseley Partners where he was a General Partner for nine years.
From Chicago, IL:
G Squared, a venture capital firm dedicated to supporting the capital needs of dynamic technology companies throughout their life cycles, announced that it has raised $1.1B of committed capital for its sixth flagship fund, G Squared VI. In keeping with the firm’s long-standing strategy, the majority of G Squared VI will be allocated to secondary market opportunities, providing growth capital and critical liquidity to the next generation of disruptive tech companies and their stakeholders.
As its name implies, the firm focuses on investments in growth stage technology companies and has invested in more than 130 portfolio companies since it was founded in 2011.
From Evanston, IL:
Magnetar, a leading alternative asset manager, has announced the successful close of Magnetar AI Ventures Fund LP, a $235 million venture fund that invests in early-to-growth stage companies advancing the generative AI (artificial intelligence) revolution. The fund builds on Magnetar’s history of investing opportunistically across the private-public continuum and serving as a long-term partner to portfolio companies. The Fund’s investor base is comprised of leading global institutions and strategic partners, including PEAK6 Strategic Capital and Apex Fintech Solutions, the anchor investors in this initiative.
Magnetar AI Ventures will target companies operating across the AI stack – including models, infrastructure, and applications – as well as across modalities – including text, audio, and visual – focusing on companies with differentiated technology, execution-oriented management teams and demonstrable business traction. Portfolio companies stand to benefit from the comprehensive resources of Magnetar’s institutional platform, the firm’s financial and operational expertise, and its extensive network of relationships across AI/ML and the broader finance sector.
Others from New York City:
- Robot Ventures has raised $75 million for its fourth venture capital fund. Among the investors are TrueBridge Capital Partners, Haun Ventures, and A16z’s Marc Andreessen and Chris Dixon. Robot Ventures is an early stage investor in crypto start-ups.
- Blue Cloud Ventures is raising a fifth fund with a target of $300 million, according to a form filed with the Securities and Exchange Commission. No funds have been raised
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