Breakout Ventures has finalized a $114 million Fund III to support AI-centric early-stage startups operating within scientific domains such as biology and chemistry.
The firm has already provided capital to three companies and aims to invest in a minimum of 20 companies via this fund, with typical investment amounts spanning from $500,000 to $5 million. Lindy Fishburne, executive director of Breakout Ventures, informed TechCrunch that the firm sought entities concentrating on “deciphering the intricacies of science using AI.”
Breakout originated from a grant program by the Thiel Foundation, and formally commenced operations in 2016. The entity had priorly secured two funds: a $60 million Fund I in 2017 and a $112.5 million Fund II in 2021, both similarly aimed at science startups.
“Our emphasis has perpetually centered on technology’s potential to unleash the capability of biology and chemistry, addressing significant unfulfilled demands and forging novel marketplaces,” she conveyed to TechCrunch.
Securing Fund III required approximately eighteen months, she stated, with investors comprising The Kraft Group, Pinegrove Venture Partners, and Cubed Capital.
“Founders supported by Breakout could be PhDs who pioneered the science they are bringing to market, or they might be hailing from the sector where they acutely grasp the demand and potential,” she added. “Regardless of their background, we seek alignment—the clear rationale indicating this is the most suitable individual to establish a particular enterprise.”
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