RiverVest Venture Partners announced this week that it has raised $15 million for a fund that will focus primarily on St. Louis.
RiverVest’s Archer Seed Fund plans to invest in drug startups that come out of Washington University, St. Louis University and other area institutions.
Karen Gheesling Mullis, a former Pfizer executive, will run the new fund from an office at BioGenerator, where she’ll be near lab space shared by 50 startups.
“There’s abundance of skilled talent here, and that human capital is the bedrock we are going to build Archer on,” Mullis said Thursday.
Read more: St. Louis Post-Dispatch