Newswire Bloomberg quotes Eli Lilly executive as saying it would commit up to 20% of each of the three venture funds that could raise $250m each.

US drugs company Eli Lilly is expected to commit up to $150m in three venture capital funds as a cornerstone investor.

Darren Carroll, vice president of Lilly Ventures, the drug company’s corporate venturing division, said in an interview with newswire Bloomberg it would commit up to 20% of each of the three funds that could raise $250m each.

Bloomberg said CMEA Capital, a US-based venture-capital firm, started raising money in August for one of the funds with Lilly.

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