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Newpath Partners raises $350 million for second life science fund

Tom Cahill, the founder and managing partner of Newpath Partners.Newpath Partners

Newpath Partners, a Boston venture capital firm founded by academic scientist-turned-investor Tom Cahill, launched its second fund on Tuesday after raising $350 million.

Cahill said the firm, which focuses on life science companies, raised the money earlier this year and has identified four companies to invest in, three of which are still in stealth mode. It’s Newpath’s second fund in three years.

Since launching in 2018, Newpath has partnered with more than 15 scientific founders and participated in large funding rounds, including the $500 million launch of Neumora Therapeutics in October and the $315 million launch of Prime Medicine in July. As a relative newcomer to venture capital, Cahill said he has been able to access these deals because of his approach to working with academic founders.

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“I started out in theoretical chemistry... Scientists want to work with people who understand science,” he said in an interview. “It isn’t academics coming to me with companies; we are building companies based on ideas we are discussing over dinner... Often it takes three, four, five years.”

Cahill, 35, lives in the Fenway area and works from his firm’s office in the Prudential Center. Now at the helm of one of Boston’s up and coming VC firms, he said he’s guided by a principle he acknowledged “seems like what you would tell a five-year-old.”

“If you do the right thing, and you do it for the right reason, you often get good outcomes,” he said.

Harvard professor Stuart Schreiber, a founding core member of the Broad Institute of MIT and Harvard who cofounded two startups backed by Newpath, said “many scientists on the doorstep of breakthrough discoveries have found that academia is not the place for their ideas to flourish.”

“Whereas many other firms focus on incremental advancements, Newpath Partners identifies science that has the potential to change the status quo,” he said.

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Anissa Gardizy can be reached at anissa.gardizy@globe.com. Follow her on Twitter @anissagardizy8.