Venture Capital Firm Aimed at Biotech Startups Raises $350M in Inaugural Fund
Cure Ventures, a Boston-based life sciences venture capital firm focusing on company formation around groundbreaking curative technologies, said Tuesday it had closed its inaugural fund, Cure Ventures Fund I, L.P., at its targeted hard-cap of $350 million in capital commitments. The fund was supported by a strong syndicate of both U.S. and internationally-based investors.
Launched by VC veterans Richard Lim, David Fallace and Lou Tartaglia, Cure Ventures is focused on early-stage investments in life science and biotechnology, primarily focused in new therapeutics. Embedded Cure operators will work alongside portfolio company founders to drive day-to-day decision making.
“Biopharma venture capital is an enterprise in risk management that demands rigor, diligence and patience,” said Lim. “We are committed to working closely with founders to collaborate and operationalize capital, making us a true sweat equity partner.”
The successful close of Cure Ventures Fund I occurs in a local life sciences market buffeted by headwinds and therefore less active on the leasing front. Connect CRE reported earlier this year that Boston-area private companies have put growth needs on hold as funding has become harder to secure.
Pictured, from left: Cure Ventures founders Lou Tartaglia, Richard Lim and David Fallace.