New Venture Capital Fund Eyes Latin American Science Startups
- Fund partners plan to raise up to $25m through mid-2024
- Fund will focus on life sciences projects in Latin America
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The backers of a new venture capital fund that aims to finance startups in Latin America focused on life sciences are bucking a funding crunch by tapping family offices and wealthy investors.
Investment banking firm Ficus Advisory and scientific research center Institut Pasteur de Montevideo expect to close its first funding round for $10 million by mid-June with about 15 European and Latin American investors, Ficus Chairman Paul Elberse said. Lab+ Ventures LP has commitments for more than half that amount so far, he said.