Just days after launching second fund, firm makes investment in early stage biotech startup
701 Fund 2 announced on Tuesday that they have made their first investment from the second fund. The fund generally invests $50,000 to $150,000 in each startup company at this time. The company is currently operating in "stealth mode", but the 701 Fund team mentioned that it was a biotech company that is developing life-changing technology.
Greg Syrup, the Managing Director for 701 Fund shared, "We are really excited to make this first investment. This is a great opportunity and we think they can change the world. The management team of this particular is someone we know well and they are some of the best in their industry. We're fortunate to be able to be involved and support their venture."