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Former Foundation Medicine CEO joins VC firm

Mike Pellini, the former CEO of cancer companies Foundation Medicine and Clariant, has joined Section32, the venture capital firm launched earlier this year by Google Ventures founder Bill Maris.

Why it matters: Pellini is the first partner-level hire at Section32, which closed on $150 million for its debut fund back in May.

Backgrounder: Pellini and Maris have known each other for years, as Google Ventures was an original investor in Foundation Medicine, which went public in 2013 and currently has a market cap of around $2.5 billion. Pellini stepped down as CEO earlier this year, but remains company chairman. His official title at Section32 is managing partner, and he is expected to focus primarily on healthcare investments.

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