The Brain Trust Accelerator Fund is looking to raise up to $25 million for a fund that will invest in companies developing brain cancer treatments and diagnostics.
Brain Trust has targeted between $20 million and $25 million for what would be the investment firm’s second fund, VentureWire reports. The Brain Trust fund was started by America Online co-founder Steve Case as a sort of partnership between the private sector and nonprofits. Brain disease charities will be given a portion of the management fee and carried interest in the fund that would usually have gone to the general partner, Forbes reported.
So far, Brain Trust has made three investments: Amnestix, a biotech developing therapeutics to improve the human memory; NeuroFluidics, a developer of treatments for neurological disorders; and Satoris, which is creating tests for degenerative brain diseases.
John Reher, co-founder of Medicus Venture Partners, is Brain Trust’s managing director.
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