Prebys Ventures invests $5 million in five San Diego healthcare startups
Dante Ulanday - News Moderator 
Prebys Ventures announced this week it has invested $5 million into five San Diego startup companies working on the cutting edge of healthcare research and development.
The venture fund created by San Diego’s largest private foundation made separate $1 million investments in AeroRX, Aspen Neuroscience, Crystalys Therapeutics, Protalys Pharmaceuticals, and Welby Health.
The companies are developing solutions for chronic obstructive pulmonary disease (COPD), Parkinson’s disease, gout, oncology, and chronic care management.
The funding comes at a time when venture investing is largely stalled across the nation.
“We’re very excited not only about the cutting-edge innovation of these five companies, but for what this means for San Diego’s entire innovation sector,” said Prebys Ventures Managing Director Mike Krenn. “At a time when investors are scaling back, we’re proud to be working to advance health technology while investing in the future of San Diego.”
Krenn added part of the fund’s vision is to attract more outside capital to the region, noting they’ve already brought a new investor to San Diego with one of their portfolio companies.
“We’re already actively sharing San Diego deal flow with outside investors, and we’ll continue to do so. We’re also very pleased with the incredibly well-regarded and established funds we’ve been able to invest alongside thus far, and we’re hoping to collaborate on more deals in the future,” he said.
Prebys Ventures was created earlier this year by the Prebys Foundation with a goal of investing $50 million into private ventures to grow capital that is in turn reinvested back into San Diego communities.
“We believe the innovation economy will play a vital role in San Diego’s future, opening up economic opportunity across our region,” said Prebys Foundation CEO Grant Oliphant. “We know that every innovation economy job creates 2.6 other jobs in the region.”
He said he believed the fund would become a model for other foundations.
