As society has become more health conscious, a rise in the number of companies with a focus on increasing human longevity has occurred. However, fitness motivation can come from more than simply mobile apps. Biotechnology-focused illness prevention all the way to organ regeneration: these are only two examples of the kinds of longevity startups that are possible. According to Bank of America, the longevity industry might reach 600 billion by 2025, and the Aging Analytics Agency predicts that global investments in longevity-focused enterprises would exceed 40 billion in 2021.
Now, investors are raising significant sums; for example, Apollo Health raised 180 million for a fund in November, while Maximon, a Swiss longevity firm builder, raised €96 million for a fund.
Currently, a new American fund is entering the fray.
“Longevity for people and planet” is the stated mission of the 100 million fund Life Extension Ventures, situated in New York City. To put it into action, investors will have to support startup companies working to speed up research into how to extend human life.
This encompasses not only artificial intelligence, direct-to-consumer, Web 3.0 infrastructure-as-a-service, platforms, and markets, but also people, animals, agriculture, food, energy, and transportation.
As luck would have it, the fund’s creators have extensive experience between them, including several science PhDs, thriving firms, and Angel investment.
Investors and founders from other VCs, the creators of unicorns, and significant institutions are among Life Extension’s LPs.
Dr. Inaki Berenguer is on board as well; after attending MIT and Columbia, she founded Life Extension along with the rest of the team that includes Pixable (bought by Singtel) and CoverWallet (acquired by Aon in 2020).
Amol Sarva, PhD, the company’s co-founder, was educated at Stanford and Columbia in cognitive science and has taught at Columbia Business School. With his flexible office concept Knotel, he competed with WeWork, and he also founded Peek (acquired by SoftBank.)
The two have previously invested as angels in companies like DeepCell, which utilises artificial intelligence to construct a library of cell morphology, and Particle Health, which has raised 40 million. Galatea Bio is a DNA databank for genetic discoveries.
In a phone conversation, Sarva explained, “There was a clean Tech 1.0, a clean Tech 2.0, and something similar is happening in the Biotech realm right now.” A fresh and exciting possibility has arisen as a result of the convergence of software and research.
Berenguer added: “We are going to focus on the software and data-driven companies in this category. Most of the entrepreneurs that we are going to back are not the typical biologist in a lab doing experiments. They are going to simulate experiments, they are going to analyze that data. They’re going to, for instance, commercialize using API’s within marketplaces. So it’s very similar to what happened with the internet 20 years ago.”
Sarva went on: “The future of humanity depends certainly on what we do for people, but also for the planet we live on. It’s and it’s the same. It’s the same technologies and science. That’s having an impact. It’s biology and chemistry. It’s having an impact on people on agriculture, food, even energy production. This cutting edge science is really the key to it all. And so we decided, let’s go find where science and software intersect. That’s going to have a huge impact.”