KANSAS CITY, Mo., April 13, 2020 /PRNewswire/ -- Amid the economic difficulties posed by the Coronavirus pandemic, Spectrum Business Ventures founder and CEO Amit Raizada said on Friday that he is committed to continuing to invest in cutting-edge industries that deliver both significant returns and measurable social benefits.
Raizada's announcement came just hours after the Bureau of Labor Statistics released its March jobs report, which painted a bleak picture of the US economy in which more than 700,000 Americans lost their jobs. On Thursday, it was reported that more than 10 million Americans had filed for unemployment in the last two weeks.
"Over the course of my two decades in venture capital, I've always been committed to investing in people and the products that they need," said Raizada. "Americans are hurting right now. As we enter the first period of economic downturn since the Recession, it is important to continue to invest so that families can put food on the table and a roof over their kids' heads while we navigate this crisis."
Raizada has long been a prominent investor in biomedical technology, a field that will be particularly relevant during this public health crisis. He was a key investor in Dalent Medical, whose technology has revolutionized sinus care, and in a number of firms that develop cancer-fighting drugs.
"I've always sought out investment opportunities in biomedical technology firms because they tend to meet two of my main investment philosophies: they provide life-changing services to people in need and deliver returns to my firm and my partners," Raizada said. "Now, we're seeing the importance of medical investment on a macro-scale. I will continue to seek out opportunities that could help ward off future pandemics."
About Amit Raizada:
Amit Raizada is an entrepreneur, philanthropist, and the CEO of Spectrum Business Ventures, an investment firm that holds equity in a wide range of companies in fields from medical technology to consumer entertainment.
Spectrum Business Ventures
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SOURCE Spectrum Business Ventures