Cure Ventures, a Boston-based life sciences venture capital form, has closed its debut fund on about $350 million.
Fund I listed a target of $400 million in its initial filing with the SEC on May 24, 2021. It officially raised $350.4 million from 44 investors, according to its latest filing.
The firm did not disclose the names of any LPs, but said they include state and city public pension funds, foundations and endowments, funds of funds, hospital and health systems, sovereign wealth funds and family offices.
“Biopharma venture capital is an enterprise in risk management that demands rigor, diligence and patience,” Cure Ventures co-founder and managing partner Richard Lim said in a statement. “At Cure, we aren’t just signing a check. We are committed to working closely with founders to collaborate and operationalize capital, making us a true sweat equity partner. We look forward to sharing more about our investments in the near future.”
In addition to Lim, the firm’s founders include managing partners David Fallace and Lou Tartaglia.
Cure Ventures was founded in 2021. It makes early-stage investments in life sciences and biotechnology, primarily focused in new therapeutics.
“We founded Cure with a grand ambition: to eradicate life-debilitating and life-ending diseases with curative technologies,” Fallace said. “We know it is people who drive the development of therapeutics that change patients’ lives, not capital.”