We launched Refactor Capital four years ago to support the best founders solving fundamental human problems in areas such as bio and health. We observed that many of the best founders were flocking to these problems, and so David and I teamed up to be one of the first seed funds focused on those areas to help fill this need.
Today, I’m excited to announce our second fund, a $30M vehicle, to continue our mission. This fund will allow us to continue supporting the best founders in areas such as synthetic biology, consumer wellness, chemicals, computational drug discovery, consumer biology, as well as other fundamental human problems in areas such as aerospace, agriculture, and transportation. I’ve written (and tweeted!) about these sectors before, and given that they represent half of global GDP ($1T pharma industry, $1.2T chemicals industry, and the $7T healthcare industry) — they’re hardly niche categories.
I’m also excited about our new structure that will enable Refactor to succeed for years to come. I will be the sole General Partner moving forward with David Lee serving as Chairman. This will help us to be even more decisive and responsive to founders — the “All Partner Meeting” becomes a meeting of one! We hope that this new structure will create a nimbleness that serves founders in this fast, ever-changing environment.
Finally, I want to give a shout out to David. He will continue to be a sounding board — my “consigliere” — for me on any decision. David will also serve this role to any and all Refactor founders. I believe he’s among the best in the world at this role, and many successful founders will agree. I’m very grateful to have him in my corner as I build Refactor moving forward.