1. Philanthropic disease foundations rival VCs in life sciences
The third in the Business Journal’s three-part series on philanthropy and business focuses on disease foundations and venture capital. Nonprofit investors maintain that despite their similarities to venture capital firms, the model also has drawbacks, including misaligned incentives, reports Rowan Walrath. Scroll down for more.
2. At last: A biotech IPO
Rowan also reports on a rarity for 2023: A biotech company just went public in a $250 million IPO, at a $2.7 billion valuation.
3. Cambridge Health Alliance to require masks starting today
Cassie McGrath reports that Cambridge Health Alliance has reinstated its mask mandate for its patients, visitors and employees in all patient care areas.
4. VC investors to take a huge hit on 2021 Instacart investment
Sequoia Capital and Andreessen Horowitz, two of Silicon Valley’s most high-profile venture firms, are poised to take a massive hit on their last investment in grocery delivery company Instacart, a deal that closed in 2021 as tech stocks were soaring. Boston-based Fidelity also participated in that 2021 round, CNBC reports.
5. Shannon O’Brien got suspended. Here’s what she had to say.
Cassie also reported that State Treasurer Deb Goldberg on Friday suspended Cannabis Control Commission Chair Shannon O’Brien just one year into her five-year term. O’Brien had something to say about it.
The cover story of the latest weekly edition is the third of a three-part series on the state of philanthropy in Boston. The Business Journal newsroom reported and published a series of three stories on philanthropy and business as part of a new partnership with the Chronicle of Philanthropy, The Associated Press and The Conversation US. The partnership included a small financial grant from the Lilly Endowment, administered by the Chronicle, whose purpose is to expand coverage of philanthropy and nonprofits. We used the grant to hire an intern who helped with research and reporting for the stories.
The first story leveraged our exclusive survey-based lists from the past 20 years to show that philanthropic giving declines in most cases when a company’s executive suite is acquired and/or moves to another city.
