Arcus Holds 1st Close

Arcus Ventures has held a $25 million first close on its debut fund, and expects to wrap up the $50 million target later by the end of Q2. The New York-based firm is specifically focused on opportunities in the oncology space, whether that be therapeutics, devices or services. It is run by a pair of oncologists who were with Memorial Sloan-Kettering, before becoming venture partners with Cross Atlantic Partners in 2003.