Prysm Capital Closes Inaugural Growth Equity Fund at $305M

Prysm Capital, a growth equity firm that invests in the technology, consumer and healthcare sectors, closed its inaugural fund, Prysm Capital Fund I with $305 million in commitments. The fund received support from a diverse institutional investor base, spanning public pension funds, corporate pension funds, university endowments, family offices and foundations.

The firm was founded in 2019 by Jay Park, Muhammad Mian and Matt Roberts, who previously worked together at BlackRock for nearly a decade. With offices in New York, Princeton and San Francisco, the firm currently manages over $1 billion in assets. Read more.

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Feds Shut Down Missouri Christian Nonprofit that was Supposed to Cover Medical Bills

Since its creation in 2013, Medical Cost Sharing has — by the government’s estimates, based on access to its financial records — collected roughly $7.5 million in membership fees from members around the country. But over that time, an estimated $246,000 — or 3.5% of money collected — actually went toward sharing the cost of health care bills.