Gates Foundation Vets Raise $200M for New Biotech and Digital Health Fund
There’s a newcomer to the digital health and biotech investment worlds. The two founders of Biomatics Capital come with a strong pedigree, having worked for the Bill & Melinda Gates Foundation.
Boris Nikolic and Julie Sunderland, who (respectively) were the chief adviser for science and technology to Bill Gates at the Foundation and the director of programming investments, picked up $200 million for the venture fund that they formed last year.
With one company already on its roster, the venture firm hopes to add 15-20 more in the near future.
Biomatics will boost firms in the big data-driven digital health and genomics space. It’s already invested in AiCure, a company that uses smartphones to see whether or not patients are taking their medications. “It’s our goal to seek out radically innovative solutions—the outliers,” said Sunderland in a statement.
The outfit plans to pour about $5 million to $10 million in initial funding into 15 or 20 companies (that figure could rise to $20 million for particularly promising firms).