KBA commits $50 million to venture capital funds

The Kansas Bioscience Authority will commit $50 million to venture capital for Kansas-based bioscience companies, the agency said today.

"Capital is the lifeblood of bioscience companies," KBA CEO Tom Thornton said in a news release.

He said those companies are suffering "for a lack of early stage capital."

The money will be invested in eight private venture capital funds "with a substantial presence in the state" and will be required to raise an additional $25 million in order to distribute the KBA funds.

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