From a public library whiteboard, a $350 million biotech venture fund

A new biotech VC firm started by veterans of the industry began around a whiteboard in two public libraries in suburban Massachusetts.

David Fallace, Richard Lim, and Lou Tartaglia began gathering at the Newton and Wellesley, Mass. libraries in 2021 — locations away from the prying eyes of the Boston biotech ecosystem that also happened to be open during the pandemic — where they could dissect what worked, and what didn’t, in venture capital.

Between the three of them, they had worked at five different venture firms, including Third Rock Ventures, Omega Funds, and Polaris Partners. Fallace invested in even more biotech VC funds through his work at the Alaska Permanent Fund Corp., which routinely gives money to venture capital firms to invest in startups.

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