Point72, the firm investing hedge fund mogul Steven A Cohen’s personal wealth, gets into healthcare – TechCrunch

Point72 Ventures, the early stage investment firm that’s now solely investing the personal wealth of the multi-billionaire hedge fund magnate Steven Cohen, is getting into healthcare investing. The firm has hired Scott Barclay, a former partner at the life sciences and frontier technology …

Curated via Twitter from TechCrunch’s twitter account….

At Point72 Ventures, Barclay and the team he’s bringing on board will compliment efforts that the firm has launched to back startups focused on financial technologies and services, artificial intelligence and machine learning, and enterprise software and cybersecurity. “At Point72 Ventures, our goal is to be foremost experts in the areas in which we invest,” Granade added. “Scott has a 15-year track record and real passion for working with innovative, healthcare-focused founders.

Entrepreneurs can expect the new fund to invest roughly $50 million per year across a range of early stage startups. “The entry point is anywhere from incubation to large, modern day, Series A deals,” said Barclay. “It’s a wide aperture.

While he won’t pursue pure therapeutic investment opportunities — leaving those deals to the Arch Capitals and 5AM Ventures — Barclay said that he would look to invest in care applications that push computing, diagnostics, and therapeutics closer to patients.

But a back of the envelope calculation should see the firm committing roughly $300 million to its healthcare efforts, according to Point72 Ventures managing partner, Matthew Granade.

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