Breakout Ventures Announces Close of $112.5M Fund II

Breakout Ventures Announces Close of $112.5M Fund II




Breakout Ventures Announces Close of $112.5M Fund II

Fund continues investing in early-stage companies harnessing the power of cells to build solutions in human health and sustainability

SAN FRANCISCO–(BUSINESS WIRE)–Breakout Ventures, the home for creative bioscience entrepreneurs, today announced the close of its oversubscribed second fund with $112.5M in commitments. Fund II received strong support from existing limited partners including Dolby Family Ventures, Thiel Foundation, GRIDS Capital, S Cubed Capital and deep tech investors Chris & Crystal Sacca, Tony Fadell, Zack Bogue and Matt Ocko. The Fund welcomed new institutional investors including Cortes Capital (Love’s Private Equity), Cupola Funds managed by AMG National Trust, university and foundation endowments, and a leading bank.

Breakout Ventures will continue to back Seed through Series A-stage companies in creative biosciences where biology, chemistry and technology converge to scale solutions in human health and sustainability.

“Cells are the engine of the next decade as humans can now partner with biology in surprising ways,” said Lindy Fishburne, Managing Partner of Breakout Ventures. “With biology and chemistry being driven by computation, high-throughput science is enabling faster, stronger, smarter companies built by incredible talent.”

The firm invests across the intersections of technology and biology in diverse areas such as: computation-driven discovery and diagnostic platforms, synthetic biology, cell and gene therapy, biodefense, biomanufacturing and carbon transformation. Fund I investments include Immusoft, which is genetically modifying B cells to create sustained therapeutics in the body, and Checkerspot, a company using synthetic biology and chemistry to produce novel bio-derived oils. Other investments in Fund I include Strateos, Cytovale, Ecovative and Twelve.

Breakout Ventures has already begun deploying capital from Fund II with investments in single-cell analysis (CellChorus), synthetic biology enabling green chemistry (Zymochem) and reprogramming the tumor microenvironment (Parthenon Therapeutics).

“We invest where a novel hypothesis and scientific breakthrough converge with a high-value market,” said Julia Moore, Managing Partner of Breakout Ventures. “We are inspired by the ingenuity of our founders and their ability to validate and commercialize new science. We’ve spent years investing early and meaningfully partnering with our portfolio companies through the highs and lows of venture-building.”

In addition to Managing Partners, Lindy Fishburne and Julia Moore, the team includes, Dr. Dana Watt, PhD, Dr. Nima Ronaghi PhD and Renee Shenton to lead community building.

“Breakout Ventures has been a true partner when it comes to distilling complex issues and ensuring the company is on a successful path,” said Ajay Shah, CEO of portfolio company, Cytovale. “Breakout’s experience investing in our space along with their network of founders, corporate partners, and expert advisors helps us see around corners at critical moments.”

As founders of Breakout Labs at the Thiel Foundation, the Breakout team has spent a decade investing in and coalescing the ecosystem for early-stage, deep science companies. Breakout Labs was founded in 2011 to support these start-ups at a time when there was little infrastructure or investment available to move science startups from lab to commercial viability. The Breakout Labs portfolio has gone on to raise over $1B in follow-on capital and grants.

To learn more about Breakout Ventures, please visit: https://www.breakout.vc/.

About Breakout Ventures

Breakout Ventures is the home for creative bioscience entrepreneurs. We invest in early stage companies harnessing the power of cells to build solutions in human health and sustainability. Our team has spent the last decade supporting science-driven companies moving with urgency. We partner with bold founders throughout the entire life cycle, from seed to scale.

Breakout Ventures was founded in 2016 and is based in San Francisco, CA.

Breakout Ventures. Building a future powered by science.

Contacts

Brittany Solano

brittany@jones-dilworth.com
972-809-6832