STAT Plus: A rare investment mechanism is helping to fund some health tech companies’ coronavirus projects
Extraordinary times call for extraordinary financing instruments, according to one California venture capital firm.
A San Francisco-based early-stage investor, Fifty Years, has offered $25,000 to 14 of the health tech companies it’s already invested in, all of which are now working on coronavirus-related projects — and that money is coming with far fewer strings than usual. It’s hoping the extra money will allow its portfolio companies to produce tests, treatments, or basic needed supplies like masks or hand sanitizers.
