ARTICLE | Financial News

PureTech raises $55M

October 21, 2014 2:38 AM UTC

Science and technology development firm PureTech Ventures (Boston, Mass.) raised $55 million from Invesco Perpetual and other investors including endowments, angels and pharma companies. The funding builds on about $32 million in prior investments, according to CEO Daphne Zohar.

PureTech typically provides seed funding to new companies that are set up as operating subsidiaries, then seeks outside investors as the newcos mature. Zohar said the new round will allow it to provide $2-$10 million in follow-on funding to multiple programs. ...