Yongmee Michele Kang, founder and CEO of Cognosante Ventures, bought a Palm Beach condo for $5.5 million.
Records show Kang bought the four-bedroom, four-bath condo at 101 Worth Avenue from the Kevin J. Collins 2002 Revocable Trust. Robert W. Sheehan is named as a trustee.
Cognosante Ventures is a Falls Church, Virginia-based venture capital firm that provides seed money to technology startups. Kang founded the company in 2008.
The Kevin J. Collins Trust had paid $2.3 million for the 4,130-square-foot Kirkland House unit 0031 in 1999, according to records.
The 20-unit condo building, which is across the street from the ocean, was built in 1974. Kang’s purchase equates to $1,332 per square foot.
Palm Beach has seen a number of high-priced sales this month. Billionaire real estate and casino magnate Neil Bluhm bought a Palm Beach townhouse for $7.4 million. A spec house sold for $5.7 million, and the family of Andy Warhol muse Jane Holzer bought a Palm Beach home for $8 million.