Andrew ‘Twiggy’ Forest is launching a new $250 million health-tech fund called Ten Mile. The fund will be part of the mining magnate’s family office, Tattarang. 

The VC fund will target early stage companies that otherwise wouldn’t get the support needed to commercialise their research and technology. 

“Our laser-focused approach means we can help early-stage companies, researchers and entrepreneurs tap into seed funding to help them when they need it most, and then provide follow-on support, which is often unavailable through government or public sector funds,” Dr Forrest said.

“Tenmile will help Australian researchers and Australian companies, through our extensive knowledge, global networks and dedicated capital to deliver life-changing products and medical treatments in a way that this country has not seen before.”

The fund has already invested in Emyria (ASX: EMD), a drug development company focussed on the therapeutic use of cannabis and psychedelics. 

Tenmile will be run by Executive Chair Dr Steve Burnell, who has deep experience in building healthcare businesses. 

“Health technology for us encompasses areas as diverse as medical devices, diagnostics, biotech, pharmaceuticals, and even healthcare services. We are particularly excited about emerging opportunities in immunology, oncology, digital health, the microbiome and microbial resistance.” says Dr Burnell

Tenmile is named after a permanent and reliable pool of clean water on the Ashburton River, in Western Australia.

The commitment to Tenmile follows the launch of a $100 million impact fund by the Minderoo Foundation, a charity seeded by the Forest family. 

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