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Venture report: Scion’s launch, rounds for Neurona, Attralus and Basking

ARTICLE | Finance

New firm, affiliated with NYC-based Petrichor, will put $310M fund toward company creation

By Paul Bonanos, Director of Biopharma Intelligence

February 9, 2024 12:51 AM UTC

Two veterans of Apple Tree Partners have teamed up with a founder of healthcare investment firm Petrichor to launch Scion Life Sciences, a new firm with a $310 million fund to invest in company creation.

Led by VCs Samuel Hall and Aaron Kantoff along with Petrichor founder and Managing Partner Tadd Wessel, Scion said it is already advancing four undisclosed projects. Although the firm may begin with investments in the thousands at the incubation stage, Scion said it is prepared to commit up to $60 million to each of its portfolio companies during their life spans…