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They’re an unlikely duo with an unlikely plan. If it works, it could change the lives of millions of seniors and upend assumptions about venture capital. It could also make the pair—who are already fabulously wealthy—even richer.
The duo in question is 85-year-old Alan Patricof, an investor who has helped build hundreds of companies including Apple and AOL, and Abby Levy, a much younger executive who has occupied prominent roles at Soul Cycle and Arianna Huffington’s Thrive Global.
On Wednesday, the pair announced the launch of Primetime Partners, a new style of venture capital firm that will bet on innovation related to aging and seniors. In practice, this means making early stage investments of $250,000 to $1 million in startups that products for seniors, while also seeking out