Dimension Announces Raising Oversubscribed $500 Million Second Fund

– Dimension Capital, a two-year-old venture firm, raised an oversubscribed $500 million second fund, surpassing its $400 million target.

– The firm retained all LPs from its first $350 million fund and attracted new investors, turning away most who expressed interest.

– Dimension specializes in life sciences and technology, targeting drug discovery and AI-driven clinical applications.

– Dedicated to bridging biology and computer science.

– Founders:
– Zavain Dar (former Lux Capital GP).
– Adam Goulburn (former Lux Capital investor).
– Nan Li (former Obvious Ventures investor).

– Portfolio and Investments:
– Invested in ~20 companies since 2022, with half in stealth.

– Known investments include:
– Chai Discovery: Developing open-source AI foundational models for drug discovery; raised $30M in seed funding.
– Enveda: Using AI to develop natural compound-based medicines; raised $130M Series C.
– Monte Rosa Therapeutics: Publicly traded biotech using AI for drug development.

– Zavian Dar, Adam Goulburn, and Nan Li, Founders and Managing Partners stated: “We’ve built Dimension to be equal parts computer science and life science – indeed our entire team has technical degrees in either science or engineering. We’ve established a research function to document emerging theses, share critical intel, and provide unbiased sounding boards for our portfolio and the broader ecosystems we operate in.”

– Investment Strategy:
– Initially focused on early-stage; now stage-agnostic, investing from inception to public companies.
– Writes checks ranging from $1M to $30M+.
– Plans to maintain ~20 portfolio companies per fund.

– Portfolio Focus Areas:
– Split between drug discovery and software/infrastructure supporting biopharma.
– Includes a stealth startup building robots for lab automation.

– LP Composition:
– Endowments, hospitals, and research institutions are among its LPs.

– Distinct Approach:
– Biotech investments require teams with 25%-40% computational biologists, AI engineers, and roboticists collaborating with chemists and biologists.

– Entrepreneurial Talent:
– Founders entering the sector are technically skilled, scientifically literate, and ambitious.