![]() Tessera Technologies, which made protective packaging for computer chips and PPL Therapeutics, the Scottish firm that gave the world Dolly the cloned sheep. Cloherty was particularly drawn to investing in biotechnology firms and others in the high-tech sector, including Agouron Pharmaceuticals, a producer of protease inhibitors used for treating H.I.V. The firm grew into a multibillion-dollar international business, and she eventually became its co-chair and president. Ventures, which took early positions in Apple, Office Depot and the company later known as AOL. “She said she had no background in finance,” he recalled in a phone interview. Patricof believed she would excel at answering venture capitalism’s fundamental question: Which business ideas are worth betting on?
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