Venture capitalist Laura Deming is doing really cool things.
The 23-year-old announced in late August that she closed her second round of investments in her venture capital fund, Longevity Capital, after raising $22 million from investors.
Venture capital funds like Longevity focus on providing money to early stage companies that are often still researching their products. Longevity put the first fundraising campaign - worth $4 million - they completed to work at five biotechnology companies.
Deming completed her first fundraiser when she was just 17 years old. She had spent a few years working in a biotechnology lab at the University of California, San Francisco, before starting her studies at MIT. Soon, though, she dropped out and became a Peter Thiel fellow (only one of two women in its inaugural class). Then, she founded Longevity.
Deming runs the fund as a sole partner, meaning she is in charge of the investment decisions.
This second fund Deming raised will be deployed to biotech companies that focus on researching the process of aging, as well as those working to extend life expectancy.
Deming told TechCrunch that she expects to put the latest capital raise to work at eight to 10 companies.
- Alicia McElhaney / She Spends Issue #19