Cowen has raised $108 million to steer toward health care investments. Photo: Gregory Bull / AP

Investment firm Cowen has raised $108 million for its venture capital fund focused on health care, according to a regulatory filing. A Cowen spokesman would not disclose details about the fund, which is led by Kevin Raidy. Cowen's health care unit invests in biopharmaceutical firms and other health care companies.

The big picture: Venture capitalists continue to pour money into health care, hoping to cash in on the next big drug discovery or get a different piece of the $3.2 trillion pie.

Go deeper

Students say they'll sacrifice fun if they can return to campus

Illustration: Aïda Amer/Axios

College students overwhelmingly plan to return to campus this fall if their schools are open — and they claim they'll sit out the fun even if it's available, according to a new College Reaction/Axios poll.

Why it matters: For many, even an experience devoid of the trappings of college life is still a lot better than the alternative.

32 mins ago - Health

Florida's coronavirus outbreak is getting worse

Reproduced from The COVID Tracking Project; Chart: Axios Visuals

Florida is the new domestic epicenter of the coronavirus pandemic, and it's on track to keep getting worse.

By the numbers: Of the 20 U.S. metro areas with the highest daily case growth, nine are in Florida, according to Nephron Research.

Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.