TLDR:
Key Points:
- Amplitude Ventures has closed $263 million for its second precision medicine venture fund.
- The fund enables investments in new precision medicine companies at the intersection of tech and healthcare.
Canadian investment firm Amplitude Ventures, based in Montreal, has closed a $263 million fund for its second precision medicine venture. The fund focuses on the health and life sciences sectors, with a specific emphasis on the intersection of biology and AI. The fund has already made four investments, including companies like Evommune, Tentarix Biotherapeutics, Reverb Therapeutics, and Evolved Therapeutics. Amplitude’s second fund is backed by a number of existing and new investors, including BDC Capital, RBC, Alberta Enterprise Corporation, and the Government of Canada’s Venture Capital Catalyst Initiative. The firm seeks to accelerate the progress of its portfolio companies to benefit patients and their families.
Amplitude Ventures is a spinout of BDC and led by former healthcare investing team members. The first fund closed with $204 million and focused on supporting three regional clusters in Canada’s precision health ecosystem. Notable investments from the first fund include Repare Therapeutics and Valence. For the second fund, Amplitude has partnered with Evotec to bring additional development capabilities for innovation. The firm’s focus on very early-stage companies and its goal of building scalable businesses remains consistent across both funds.
The new fund provides Amplitude with the financial resources needed to create and launch more companies in the precision medicine space. With over $500 million in assets under management, Amplitude aims to continue its investment strategy to drive innovation that benefits patients in the healthcare industry.
