The Autism Impact Fund (AIF) has closed its first fund with $60 million in capital.
Founded in 2021, AIF is focused on fueling new diagnostics and treatment for people with autism, neurodevelopmental disorders, mental health and other complex chronic conditions.
After his son was diagnosed with autism, Chris Male, co-founder and managing partner, began the fund, having witnessed firsthand the challenges of navigating autism care. Initial investors included a number of high-networth families that were also “tired of seeing a lack of progress in [autism] innovation in over 30 years,” Male said.
The fund expanded to include more family offices and, eventually, larger institutions.
“Now we have $60 million and we’ve deployed roughly half of it,” Male told Behavioral Health Business. “So we have dry powder to go do a handful more deals in the near term. But certainly, in the next nine-ish months, give or take, we’ll be looking at fund two. So we’re becoming that innovation and investment arm of the community.”
The fund’s portfolio includes 12 companies, including Cortica, SpectrumAi, Floreo, Helios, Auticon, Axial Therapeutics, BioROSA, Joshin, Juniper, MARAbio, Suggestic, and Yamo Pharmaceuticals.
“We invest in companies that will move the needle in how we diagnose, treat, and provide lifelong support to individuals with ASD, neurodevelopmental disorders, mental health issues, and other complex chronic conditions,” Robert Sarrazin, AIF’s managing partner and chief investment officer, said in a statement. “We are fortunate to work with a group of tremendous founders and executive teams who are addressing some of the most pressing issues in the mental health space.”
Rates of autism have increased over the past decade. According to the CDC, 1 in 36 kids in the U.S. are diagnosed with autism spectrum disorder. Male said the space is ripe for disruption.
“I think the scale, size and the complexity of the challenges facing millions and millions of people, not only in the U.S., but globally, requires new innovation,” Male said.
–Chris Larson contributed to this article