This is the inaugural fund from Cure Ventures.

Cure Ventures has raised $350 million in its inaugural fund to provide funding to biotech startups. City and state pension funds, a U.S.-based sovereign fund, foundations, endowments, and hospital systems committed to the new fund.

Cure Ventures will focus on smaller seed rounds to de-risk science and elevate larger breakthroughs. The company plans to invest in about 20 seed rounds ranging from a few hundred thousand to a couple of million dollars and fund around 12 to 15 companies for Series A funding. Earlier this year the firm closed Cure Ventures Fund I LP, a fund focused on financing at the seed stage. (Fierce Biotech)

Cure will also embed management as early C-suite members and prioritize genetic validation to increase clinical success.

David Fallace, co-founder and managing partner emphasized the role of people in driving the development of therapeutics that positively impact patients’ lives, rather than just capital. The firm is committed to continually examine and confirm technology to identify the most effective course of action in partnership with founders, he said.

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