As the world continues to navigate Covid-19, a group of Colorado investors has launched a new $100 million fund aimed at supporting innovation to combat the current and potential future pandemics.
Born as a member of Rockies Venture Club, the Pandemic Impact Fund is targeting $100 million in committed capital to invest in early stage, tech startup companies addressing pandemic detection, mitigation, response and future resilience.
The veteran team of investors includes Peter Adams, executive director of the Rockies Venture Network, Dave Harris, managing partner at RVC, and Sue Stash, a general partner at Rockies Impact Fund.
“We were working on an impact fund when the pandemic hit and we had this epiphany moment that this is what matters most now," Stash said. "It made sense to focus on this for now."
The goal of the fund is to invest in 20 to 30 hard, soft or deep tech companies that can make a material contribution towards pandemics through detection, mitigation or resilience.
Initial investments will range from $1 million to $5 million, as the fund prefers to lead early-stage investments and has reserved 50 percent to 60 percent for follow-on investments. Pandemic Impact Fund will primarily invest in early-stage U.S. tech companies, with a portion of its money carved out for select seed investments.
The Pandemic Impact Fund will focus on four areas of pandemic readiness: Know Faster, Fix it Faster, Make Work, Work and Do Better Next Time.
Using what we've all learned from Covid-19, the fund aims to back companies that can head off the next pandemic before it reaches this scale. Across these four areas, it plans to invest in a variety of companies, not just in the health care space.
"We need to be prepared for the next wave, the next pandemic, and they’re coming down the pipe way too fast," Stash said.
The Pandemic Impact Fund is currently fundraising, engaging with investors and partners to invest in pandemic innovators across the country.
Stash said the concept of impact is built into the DNA of Colorado's startup ecosystem, making this fund an ideal fit for the region.
"I’m assuming that through RVC we’ll have great access to the Rocky Mountain region," she said. "We will do deals on the coast, but our core team is here."
