New $27,5 million investment fund for artificial intelligence-powered drugs
Sahir Raoof has raised $27.5 million for Proximal Ventures, his first solo venture fund backing pre-seed and seed startups bringing artificial intelligence to drug development. The fund issues checks from $500,000 to $1
Sahir Raoof has raised $27.5 million for Proximal Ventures, his first solo venture fund backing pre-seed and seed startups bringing artificial intelligence to drug development.
The fund issues checks from $500,000 to $1.5 million and has already backed seven startups, including ChronicleBio.
The fund will support startups that use artificial intelligence to help develop drugs. Raoof has previous experience as an investor in SignalFire and as an executive at two healthcare companies.
How will the new fund operate?
Proximal Ventures plans to invest in companies in their very early stages, offering amounts ranging from $500.000 to $1,5 million depending on the case.
The fund has already supported seven companies. One of them is ChronicleBio, which uses artificial intelligence to analyze medical and biological data with the aim of addressing chronic diseases and exploring potential treatments.
The investors who supported the venture
Investors who provided capital to create the fund include SignalFire, Kleiner Perkins, Bertelsmann Healthcare Investments, the co-founders of Dimension Capital, and Amy Abernethy.
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