London — A venture capital fund dedicated to finding new ways to prevent and treat dementia has raised $350m, far exceeding the initial target of $200m set on its launch in 2015. The Dementia Discovery Fund (DDF), an initiative of former UK prime minister David Cameron, brings together government, industry and charities. The total, announced on Monday, was reached following a $60m investment by AARP, the US nonprofit group representing Americans over the age of 50, plus new cash from companies including UnitedHealth, Aegon and Quest Diagnostics. Other existing backers include billionaire Microsoft co-founder Bill Gates and drug companies, including GlaxoSmithKline, Johnson & Johnson and Eli Lilly, as well as the UK government. Venture capital funds are a common source of finance for high-risk, early-stage life- science research, but the new fund is the first that focuses solely on dementia. The DDF has built an initial portfolio of 16 investments in biotech companies, mainly in Brit...

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