Firms to invest $400 million in seed and early-stage funding over the next four years to propel the next tech revolution.
In a move reflecting the shifting landscape of technology investing, SOSV and Mayfield are jointly doubling down on a commitment to early-stage life science startups. The effort, which they dub the “Genesis Consortium”, will provide a strong foundation for life science entrepreneurs, the early stage venture ecosystem, and society at large.
A key goal of the Genesis Consortium is to enable a greater range of VCs and corporates to be more active in investing in the future of human and planetary health. While the arrangement creates strong ties and shared relationships between the two founding firms, the initiative is geared to creating healthy ecosystems, and is not an exclusive arrangement. Others committed to life science investing are invited to join the Genesis Consortium.
“People accuse VCs of being heartless capitalists,” said Sean O’Sullivan, SOSV Managing General Partner. “In fact, to shepherd in a brighter future requires an immense network of educated and passionate financiers to fund and guide the next generation, the three hundred startups that will sustainably and abundantly provide a better quality of life for everyone on this planet.”