Section 32 Venture Capital Raises $740 Million Fund

<p><strong><span class&equals;"xn-location">SAN DIEGO<&sol;span><&sol;strong> &&num;8212&semi; Venture capital firm Section 32 has closed its fourth fund&comma; raising approximately <span class&equals;"xn-money">&dollar;740 million<&sol;span> from returning and new investors&period; Investors in Fund 4 include leading philanthropic and non-profit organizations&comma; educational endowments and foundations&comma; and leaders from the technology and healthcare sectors&period;<&sol;p>&NewLine;<p>Section 32 Fund 4 will support companies across all stages that are pioneering innovations at the forefront of technology and healthcare&period; With the closing of its oversubscribed Fund 4 and to support its continued growth&comma; Section 32 also announced the appointment of <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3347056-1&amp&semi;h&equals;822425152&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fsection32&period;com&percnt;2Fnina-labatt&amp&semi;a&equals;Nina&plus;Labatt" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener"><span class&equals;"xn-person">Nina Labatt<&sol;span><&sol;a> to the role of Chief Operating Officer and Chief Financial Officer&period;<&sol;p>&NewLine;<p>&&num;8220&semi;I&&num;8217&semi;m so pleased that Nina has joined this team and I look forward to what this growing group will achieve together&comma;&&num;8221&semi; said <span class&equals;"xn-person">Bill Maris<&sol;span>&comma; founder of Section 32&period; &&num;8220&semi;What a privilege it is to close this fourth fund&comma; and to thus have the continued opportunity to try to use capital as a lever to accelerate the profound positive impact technology can have on healthcare and humanity&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Maris is a former Google Vice President who helped found Google Ventures&comma; the company&&num;8217&semi;s venture capital arm&comma; now known as GV&period;<&sol;p>&NewLine;<p>The closing of Fund 4 brings assets under management for Section 32 to over <span class&equals;"xn-money">&dollar;1&period;8B<&sol;span>&period; To-date&comma; Section 32 has made investments in more than 70 companies including Coinbase &lpar;Nasdaq&colon; <a class&equals;"ticket-symbol" href&equals;"https&colon;&sol;&sol;www&period;prnewswire&period;com&sol;news-releases&sol;section-32-raises-740-million-venture-fund-301416494&period;html&num;financial-modal" data-toggle&equals;"modal">COIN<&sol;a>&rpar;&comma; Crowdstrike &lpar;Nasdaq&colon; <a class&equals;"ticket-symbol" href&equals;"https&colon;&sol;&sol;www&period;prnewswire&period;com&sol;news-releases&sol;section-32-raises-740-million-venture-fund-301416494&period;html&num;financial-modal" data-toggle&equals;"modal">CRWD<&sol;a>&rpar;&comma; Relay Therapeutics &lpar;NASDAQ&colon; <a class&equals;"ticket-symbol" href&equals;"https&colon;&sol;&sol;www&period;prnewswire&period;com&sol;news-releases&sol;section-32-raises-740-million-venture-fund-301416494&period;html&num;financial-modal" data-toggle&equals;"modal">RLAY<&sol;a>&rpar;&comma; Thrive Earlier Detection &lpar;Acquired by Exact SciencesNASDAQ&colon; <a class&equals;"ticket-symbol" href&equals;"https&colon;&sol;&sol;www&period;prnewswire&period;com&sol;news-releases&sol;section-32-raises-740-million-venture-fund-301416494&period;html&num;financial-modal" data-toggle&equals;"modal">EXAS<&sol;a>&rpar;&comma; and Vir Biotechnology &lpar;NASDAQ&colon; <a class&equals;"ticket-symbol" href&equals;"https&colon;&sol;&sol;www&period;prnewswire&period;com&sol;news-releases&sol;section-32-raises-740-million-venture-fund-301416494&period;html&num;financial-modal" data-toggle&equals;"modal">VIR<&sol;a>&rpar;&period; Section 32 has made eight investments from Fund 4 following an initial close of the fund in <span class&equals;"xn-chron">July 2021<&sol;span>&period;<&sol;p>&NewLine;<p>Since its inception in 2017&comma; Section 32 has grown to 16 people&comma; including four managing partners&colon; <a href&equals;"https&colon;&sol;&sol;section32&period;com&sol;bill-maris&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Bill Maris<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;section32&period;com&sol;michael-pellini-md&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Michael Pellini&comma; M&period;D&period;<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;section32&period;com&sol;steve-kafka-phd&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Steve Kafka&comma; Ph&period;D&period;<&sol;a>&comma; and <a href&equals;"https&colon;&sol;&sol;section32&period;com&sol;andy-harrison&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Andy Harrison<&sol;a>&comma; with offices in <span class&equals;"xn-location">San Diego<&sol;span>&comma; Silicon Valley and <span class&equals;"xn-location">Boston&period;<&sol;span> The team&&num;8217&semi;s cumulative career experience includes contributing to more than 130 company exits &lpar;through acquisition or public offerings&rpar; and helping to build and finance more than 50 companies with valuations in excess of <span class&equals;"xn-money">&dollar;1 billion<&sol;span>&period;<&sol;p>&NewLine;