HomeUSABison Ventures Closes First Fund, at $135M

Bison Ventures Closes First Fund, at $135M

Bison Ventures, a Seattle, WA-based venture capital firm that invests in early-stage frontier technology companies, closed its maiden fund, at $135M.

Bison is dedicated to investing in and supporting teams using innovative science and deep technology to address some of the world’s most pressing challenges from climate change, to treating disease to demand for compute, via technical solutions that have potential for massive scale.

Founded in 2022 by Tom Biegala and Ben Hemani, who previously worked at Cascade Asset Management Co., the investment office that manages the assets of the Bill and Melinda Gates Foundation and Gates family members, Bison has already made six investments across multiple fields, including climate and sustainability, precision agriculture, behavioral health, generative AI, and computational drug discovery.

The members of the team, which is made up entirely of investors with engineering backgrounds, including Principals Ari Wright and Caleb Appleton, have worked for years to help entrepreneurs scale companies in areas including synthetic biology, computational drug discovery, semiconductors, climate tech, and robotics.

Commenting on the close of the fund, Founding Partner Ben Hemani, said: “Most venture dollars today continue to chase pure software companies. However, it was frontier technologies such as NVIDIA’s GPUs and Ginkgo Bioworks’ microbe engineering platform that enabled today’s revolutions in AI and synthetic biology respectively. With diversified engineering backgrounds, we are not afraid to deal in the physical and biological world. We know that the best solutions derive from technology integration from different industries and applications, and we are comfortable backing bold companies early on in their lifecycle when technical risk still exists.

Founding Partner Tom Biegala added: “Learning curves mean that today’s products are constantly getting better — just look at Moore’s Law. But there are thorny challenges ahead, and to address them, we’re not interested in incrementalism. We believe that backing 10x, step-change innovations at an early stage is the only way to build successful frontier tech companies, which is exactly what we founded Bison to do. We are more excited than ever to find the right companies to partner with and to build the next generation of industry in a world that needs it.”

VCWire

07/11/2023