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Ginkgo Bioworks raises $350M for new investment platform

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Ginkgo Bioworks raises $350M for new investment platform

Biotechnology start-up Ginkgo Bioworks Inc. attracted $350 million worth of commitments for its Ferment Fund platform that will invest in spinout ventures that employ Ginkgo's bio-engineering technology, Reuters reported, citing Ginkgo CEO Jason Kelly.

Ferment Fund will back two to three companies a year, according to Kelly. He added that the company has no immediate plans of going public.

Investors in the fund include General Atlantic Service Co. LP, Viking Global Investors LP and Cascade Investment LLC.

Ginkgo raised $290 million in a funding round it completed in September, raising its total financing to $719 million and its valuation to $4 billion, the newswire added.