Ben Freeberg was an associate at a venture firm Alpha Partners when he suddenly passed out in the middle of the day. He sought medical help, and after running a few diagnostic tests, doctors didn’t find anything wrong with him. “They told me I was overreacting,” Freeberg told TechCrunch.
But a little less than twelve months later, he was diagnosed with Stage 3a cancer, and it became evident that the incident was the beginning of the disease. “If they detected my cancer earlier, I could have avoided multiple surgeries and maybe even a chemotherapy regimen.” Being a cancer survivor shaped not only his life but also his career.
He set his sights on launching a venture fund devoted to improving cancer care and research. Six and a half years after his diagnosis, Freeberg closed the inaugural Oncology Ventures fund with $30 million in committed capital. It’s no secret that it’s a challenging fundraising environment for emerging managers .
But Freeberg’s personal experience and his background as a vice president at United Health’s VC arm Optum Ventures and at an Andreessen Horowitz and Bessemer-backed cancer care startup Thyme Health, helped him. He attracted capital from prominent healthcare institutions including Cardinal Health, City of Hope and Moffitt Cancer Center. Unlike other cancer-focused VC firms, including Reed Jobs’ Yosemite, which raised $200 million for its debut fund last year, Oncology Ventures doesn’t invest in drug discovery.
The firm is focu.