"We've always been focused on the opportunity for technology to unlock the power of biology and chemistry to solve massive unmet needs and create new markets. Breakout founders may be PhDs who developed the science they are commercializing, or they may be emerging from industry where they deeply understand the need and opportunity. Either way, we look for fit - the obvious reason why this is the best person to build a specific company."
"Breakout Ventures has closed a $114 million Fund III to back AI-focused early-stage startups working in scientific fields such as biology and chemistry. The firm has already written checks to three companies and plans to invest in at least 20 companies through this fund, with average check sizes ranging from $500,000 to $5 million."
Breakout Ventures has successfully closed its third fund with $114 million in capital dedicated to supporting AI-driven early-stage startups in scientific domains including biology and chemistry. The firm has already deployed capital to three companies and plans to invest in a minimum of 20 companies through this fund, with typical investment sizes between $500,000 and $5 million. Breakout seeks companies focused on using AI to unlock scientific complexity and solve unmet needs. The firm originated from a Thiel Foundation grant program and launched officially in 2016. Previous funds included a $60 million Fund I in 2017 and a $112.5 million Fund II in 2021. Fund III took approximately 18 months to raise from limited partners including The Kraft Group, Pinegrove Venture Partners, and Cubed Capital. The firm prioritizes founders with either deep scientific expertise as PhDs or industry experience understanding market needs.
#ai-in-science #early-stage-venture-capital #biology-and-chemistry-tech #scientific-startups #fund-raising
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