Prebys Foundation Launches $50M Venture Fund to Fuel Innovation and Economic Growth in San Diego
- Editor
- Feb 12
- 1 min read
Whats Happening:
Prebys Foundation is launching a $50 million impact investment fund called Prebys Ventures Impact Fund to support high-potential startups in San Diego's tech and life sciences sectors. The fund aims to drive growth and technological advancement in the region while aligning with the Foundation's mission of impact-driven investments.
Key Moves:
Prebys Foundation launches $50M Prebys Ventures Impact Fund
Fund to focus on San Diego-based tech and life sciences startups
Mike Krenn, CEO of Connect San Diego, to lead fund management
By The Numbers:
$50 million committed to Prebys Ventures Impact Fund
Mike Krenn raised over $800 million for San Diego innovation in last 8 years
Fund targets high-growth sectors including tech and life sciences
Key Quotes:
"The launch of Prebys Ventures is a major step forward in our ongoing commitment to align our investments with our values and mission on behalf of San Diego," - Grant Oliphant, Prebys Foundation CEO
"We believe in San Diego and are making a major commitment to its innovation leadership through Prebys Ventures." - Gil Alvarado, Prebys Foundation CFO
Bottom Line:
The Prebys Ventures Impact Fund represents a significant investment in San Diego's innovation ecosystem, aiming to address a critical resource gap for early-stage companies in the region. By focusing on both financial returns and measurable positive impact, the fund seeks to strengthen San Diego's position as a global innovation hub while creating lasting opportunities for local communities.
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