Johnston Associates, Inc (JAI) is a venture capital firm founded in 1968 by Robert F. Johnston. JAI provides seed capital to emerging companies in the general Princeton, New Jersey area for healthcare related start-up businesses, with emphasis in the pharmaceutical and biotechnology industries. JAI has started several companies by finding the technology, assembling the management team and raising the follow on money. Due to the time-consuming nature of start-ups, Johnston Associates typically invests in one enterprise a year.