Mirae Asset Capital Life Science, a new venture capital fund, launched on Thursday, joining several other new firms that have recently emerged with plans to invest in drug startups.
The fund is a spinout of Mirae Asset Financial Group, a global investment firm headquartered in South Korea that has previously backed young biotechnology companies such as Septerna and Crossbow Therapeutics.
Mirae is starting with $50 million and intends to primarily invest in biotech startups developing new medicines. However, it will also be “opportunistic” in backing diagnostics developers and the makers of high-powered computing tools for drug discovery.
