(Bloomberg)- By Ken Parks
Institute Pasteur Montevideo is launching a $35m venture capital fund to finance startup companies, the institution’s executive director Carlos Batthyany said in a webcast press conference.
- The fund, Lab+ Venture Builder, will invest in approx. 20 companies in Uruguay, Latin America during eight years
- “We know that some aren’t going to work out, but we have faith–because numbers around the globe prove it–that these projects deliver big returns for investors,“ Batthyany said
- Also speaking, Ficus Capital chairman Paul Elberse said his investment banking firm will raise the $35m for Lab+ Venture Builder in three funding rounds starting mid-2021
- Potential investors include family offices, high net worth individuals and institutional investors
- The fund will invest exclusively in life sciences companies
NOTE: New Biotech Venture Fund to Hunt for Latin American Unicorns