Proximal Ventures raises debut fund to back startups bringing AI to drug development

Proximal Ventures, founded by former SignalFire investor Sahir Raoof, has successfully raised its inaugural fund, totaling $27.5 million. The fund is dedicated to supporting startups that are leveraging artificial intelligence to advance drug development. This investment marks a significant step in the application of AI technologies within the pharmaceutical industry, aiming to enhance efficiency and innovation in the sector.