Google Ventures founder Bill Maris is out on a new voyage and has decided to devote his energies towards sectors like health-care and biotech. As per TechCrunch, Maris’s new venture capital fund has been confirmed and instead of the rumored $230 million, has a size of $100 million.
The fund is being called Section 32 and already has a website. Maris is planning to operate the fund out of San Diego. The choice of location certainly makes sense, considering that San Diego is a known hub for biotechnology.
Meanwhile, Maris has considerable experience of his own thanks to his stint at Google Ventures. For the uninitiated, Google Ventures was launched in in 2009 and is the venture capital arm of Alphabet, Inc. The firm has investments in over 300 companies including those in the fields of life science, healthcare, artificial intelligence, robotics, transportation, cyber security, and agriculture.
This time though, Maris is said to be looking to operate with greater independence. Which is also one reason why he is said to be shunning investment partners. Apparently, this time he wants to be able to use his better judgment while entering into deals.
The fund is expected to close either later this month or early the next. It is likely to invest in seed or early stage rounds.
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