Fund Overview

Breakout Ventures announced the close of its third fund, a $114 million vehicle dedicated to backing early‑stage companies that leverage artificial intelligence to tackle challenges in biology, chemistry and related scientific domains. The fund aims to write checks to at least 20 companies, with typical investments ranging from $500,000 to $5 million per company.

Early Investments

Since closing the fund, Breakout has already written checks to three portfolio companies, signaling the firm’s rapid deployment of capital into its target space.

Strategic Focus

According to Managing Director Lindy Fishburne, Breakout looks for founders who can “unlock the complexity of science with AI.” The firm seeks teams that either consist of PhDs who have developed the underlying science or industry veterans who deeply understand market needs. The goal is to fund companies that can create new markets by solving massive unmet needs in biology and chemistry.

Background and Track Record

Breakout Ventures originated from a grant program run by the Thiel Foundation and officially launched in 2016. Prior to Fund III, the firm raised a $60 million Fund I in 2017 and a $112.5 million Fund II in 2021, both focused on science‑oriented startups.

Limited Partners

The new fund’s limited partners include The Kraft Group, Pinegrove Venture Partners and S‑Cubed Capital. Fishburner noted that it took roughly a year and a half to raise the capital from these investors.

Investment Philosophy

Breakout’s investment thesis centers on the belief that technology can unlock the power of biology and chemistry to address large‑scale problems. The firm evaluates founders based on fit and the obvious reason why a particular individual is best suited to build a specific company.

Used: News Factory APP - news discovery and automation - ChatGPT for Business