NEW YORK, Jan 26 – Tokyo-based Softbank plans to set up a $120 million fund to finance life science companies, a spokeswoman said Friday.
The fund will target companies in the US, Europe, and Asia, beginning in April or May.
Life science companies have much to gain from advances in information technology, said spokeswoman Misao Konishi, citing the role of computing power in the mapping of the human genome.
Softbank has not decided what percentage of the funds will go toward genomics businesses, Konishi said. The fund will invest in both start-ups and more mature companies.
Aozora Bank, which is also in Tokyo, will help finance the project, Konishi said, and other partners are expected to join as the project moves along.