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| Illumina Accelerator head Amanda Cashin |
Illumina's ($ILMN) new business accelerator, Illumina Accelerator Boost Capital, got a $40 million cash infusion from hedge fund Viking Global Investors. Illumina Accelerator will use the cash to fund investments in promising genomic startups, spurring innovation and providing dollar-for-dollar matching funds for every graduate company that raises between $1 million and $5 million during the funding cycle. "This capital commitment will be instrumental in driving value for our startups as they advance breakthrough applications in genomics," Amanda Cashin, head of Illumina Accelerator, said in a statement. Statement | More