On Wednesday, three venture capitalists unveiled an exciting new endeavor: Dimension I, a $350 million fund to revolutionize the biotech industry. With this bold move, these investors are set to make a lasting impact on the future of modern science.
Dimension’s co-founders – Adam Goulburn, Zavain Dar, and Nan Li – have a wealth of life science investment experience as general partners at their respective previous firms. However, they have noticed a lack of tech focus in the space, a problem that is only exacerbated by the over 150,000 layoffs across tech in the last six months – even giants such as Google and Amazon have been affected. With this in mind, the trio of long-time friends have decided to join forces and create Dimension to address this need.
With technology and biotech disciplines trapped in antiquated capital markets, something had to change. The group recognized this and set out to transform the way these two disciplines interacted.
The collision of technology and life sciences was inevitable, and it’s already happening. For future entrepreneurs, this is an exciting opportunity to be part of a revolutionary movement that could reshape the world as we know it.
Tomorrow’s biotech won’t just be a collaboration between a biologist and a chemist, but will also include a computer scientist. This trifecta of expertise is sure to open up a world of possibilities that will revolutionize the field.
In March 2022, three ambitious entrepreneurs left their established companies to launch Dimension, a new fund that has already exceeded expectations by closing Wednesday with $350 million – an oversubscription!
Dimension is committed to providing financial support to startups and recently led the Series B round for Enveda Biosciences, a biotech company on a mission to create a high-resolution chemical map of nature to tackle the toughest challenges in drug discovery.
At Enveda, we’ve chosen Dimension as our long-term partner due to their unparalleled commitment to blending technology and biology. With their laser focus on this mission, they offer a unique and invaluable resource that we are thrilled to have on our team.
Technology Transforming Biopharma
The venture capital firm has made a big splash with their recent investments, backing Enveda, Kaleidoscope Bio, Lamin AI, and a fourth company who’s identity remains under wraps. Their investments in these innovative startups promise to have a major impact on the industry, as each company brings something unique and exciting to the table.
In 2021, the biopharma sector was dealt a major setback as VC funding plummeted by 50% compared to the previous year. According to Evaluate Vantage, the end of an era of cheap money meant investors were more wary of taking a chance on drug development, a notoriously high-risk venture.
In a move to maximize their R&D success and reduce risk, pharmaceutical giants Sanofi and Pfizer have joined forces with tech company CytoReason to leverage their data reservoirs. This strategic partnership is sure to revolutionize the way big pharma approaches research and development.