Wellcome capital

The Wellcome Trust is launching an independent life sciences venture subsidiary to invest in companies. The move is a first for the foundation, which had confined its life sciences activities to grant programs and direct investment into companies.

The evergreen fund is operating under the working name Project Sigma and will have an initial £200 million ($316.5 million) to invest in drug, device, diagnostics and healthcare IT and services companies. It will invest in early and late-stage companies and plans to be a long-term investor, according to Project Sigma CEO Martin Murphy...