Mark S. Brooks

Foresite Capital, an investment firm that backs life sciences and healthcare companies, has raised a $900 million fund. The fund, Foresite’s sixth, will invest in companies focused on precision medicine, healthcare delivery and life sciences infrastructure, the San Francisco-based firm said in a statement Wednesday. In drug developers, specifically, the firm is looking for those using genetics and machine learning to identify potential therapies, managing director Vik Bajaj told BioPharma Dive.  #optimism #investment #investing #funding #refueling #capital #cellandgenetherapy #celltherapy #genetherapy #advancedtherapies #lifescience #healthcare #AI #drugdevelopment #precisionmedicine #genetics #machinelearning #drugdiscovery #therapies #therapeutics #infastructure #raisingfunds  ORI Capital Sands Capital NewVale Capital #venturecapital #venturefund #900m

40

1 Comment

Grant revenue is not revenue. I'm all for non-dilutive funding, if and only if the SBIR/STTR-funded project accelerates your strategy with development of a product that will be sold (so science fair projects). However... *grant revenue is not validation dollars on the top line.* What you have shown is an ability to write grants, the basis for the research that led to the startup (in the case of academic spin-outs) in the first place. What you have not shown is 💸 the desire for customers to purchase your product(s) ➡ an ability to articulate a go-to-market plan, or 🔐 a down in the trenches understanding of product-market fit. Startups are a game of the quick and dead -- take the time and money you would spend writing these grants early in the life of your company and hit the road, listen to your customers, learn where and how your products fit, and start selling. Your P&L shows me your real progress there -- As an investor and advisor, I would rather see $10,000 in revenue from sales from a handful of customers in 2 quarters than a X% chance you get a $1M grant in 9 months.

33

18 Comments

European Investment Fund (EIF) VC Survey 2023: Market sentiment, scale-up financing and human capital by Helmut Kraemer-Eis, Antonia Botsari, Frank Lang, Clarissa Hahn, and Annalisa Croce. Access the 73 page report at: https://lnkd.in/dsT4deVQ. Highlights: 1) Almost 9 in 10 venture capital-VC respondents are male. Nearly half of the VC respondents are middle-aged, between 45 and 54 years of age. Only about 7% are younger VCs, below 35 years old. 2) Gloomy VC perceptions of the current fundraising environment were shared by 70% of respondents. In addition, two out of the three biggest challenges in the VC business in 2023 are related to fundraising 3) Finding co-investors has become even more difficult; Divergent investment goals and approaches are the most frequently cited barriers in finding co-investors

8

ICYMI: The Biden administration's preliminary climate model for sustainable aviation fuel (SAF) subsidies is out. Ethanol producers will need to meet strict sustainability criteria, including using specific agriculture techniques, to qualify as a feedstock. While this may pose a challenge, it presents a significant opportunity for growth in the SAF sector. As we work towards decarbonizing transportation, collaboration between ethanol producers and SAF stakeholders will be key in achieving our sustainability goals. #Ethanol #SAF #Sustainability #TransportationDecarbonization #ArrowUp

6

Here's a nice column by John Thornhill in the Financial Times on SunTrain Co and #Trainsmission. SunTrain is "repurposing railways for solar energy transportation". We can roll batteries 5-10 years sooner than we can build new transmission lines. Decommissioned coal plants have both rail and substations to receive energy from PV and wind. We can connect parts of the grid waiting for wires, and connect new generation via rail to urban centers. Put batteries on trains; move electrons. Sounds crazy, perhaps, but the numbers work. Let's go. https://lnkd.in/g5NJgPxP

2

America’s Seed Fund, powered by the U.S. National Science Foundation, focuses on transforming scientific and engineering discoveries into products and services with commercial and societal impact. Each year, we award $200+ million in research and development (R&D) funding to about 400 startups across the United States. We invite you to attend a virtual question and answer session titled Office Hours: Intro to America’s Seed Fund at NSF: Thursday, Jan. 16, 2-3 p.m. EST In this session, an NSF Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) program director will answer questions about how to get started, the basics of eligibility, and what we look for when we review Project Pitches. REGISTER Before joining the webinar, we recommend that you: Visit the How It Works section to learn more about America's Seed Fund, powered by NSF, and the Project Pitch submission process Watch a recording of Introduction to America's Seed Fund, powered by NSF We invite you to share the Zoom link with colleagues you think may be interested in attending the webinar. Thank you, America's Seed Fund, powered by NSF, staff About America's Seed Fund powered by NSF America’s Seed Fund powered by the U.S. National Science Foundation (NSF) awards more than $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across virtually every discipline of science and technology can receive up to $2 million in non-dilutive funds to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. About NSF TIP The NSF Directorate for Technology, Innovation and Partnerships (NSF TIP) engages all Americans in accelerating critical and emerging technologies to advance U.S. competitiveness. The directorate partners across sectors to advance three primary focus areas – accelerating technology, fostering innovation and economic growth, and preparing the American workforce for better-quality, higher-wage jobs. For more information about NSF TIP, visit new.nsf.gov/tip/latest.

1

Every company builder wants to do more of what matters, and less of what doesn't. After the obvious things, what moves the needle is often only clear in hindsight. Thanks Bruce Booth for the chance to start this conversation by sharing a few observations about what really matters from my experience. In particular, some activities seemed less important to me at the time but made a huge difference. Others seemed important but did not move the needle. Curious what has moved the needle for you. https://lnkd.in/gxph2mJ7

58

2 Comments

Data from the International Energy Agency (IEA) illustrates the current "readiness" of #ClimateTechs + their potential impact on carbon reduction. As shown, many techs are at an early stage of being able to have a material impact. Concerningly, some tech funds recently returned capital back to investors recently + closed their funds - citing inability to fund capital intensive techs, found in areas like ClimateTech. This in part may be contributing to the $2 trillion shortfall in ClimateTech, that Deloitte estimates. What this may mean for the future? - The migration of LPs to global, super VC funds within ClimateTech, given the large capital pools needed to fund tech development - Greater specialization from smaller funds, energizing more niche elements of the ClimateTech market - but also altering their / LP's risk profile - A greater role to be played by debt financing in funding growth entities at an earlier stage - impacting cashflow dynamics Will be an interesting space to watch moving forward. We at The Proptech Connection are constantly working with all parts of the Proptech ecosystem. From the leading LPs, funds, techs and adopters in market, providing an independent view. Reach out to us today to find out how we can help. #InvestorTrends #Strategy #Global Ivo van Breukelen Stuart Daun Kiki C. Ethan Ward

9

2 Comments

Here is my list of what I believe could be some of the largest risks in 2025 that I been thinking about: 1. A Japanese pension crisis brought on by market volatility and aging demographics with spill over globally. 2. A new crop pathogen that impacts major crops like corn, wheat and soy. 3. Conflicts arising around resources (natural and communication) in space. 4. Tether peg to USD is broken, reason i’m not sure but potentially a government coin? 5. This one would be totally awesome but somehow AI leads to us discovering / cofnirming the existence of aliens. Please add to the list!

3

We're so excited to welcome Caladan Bio to Wireframe Ventures' portfolio and celebrate the launch of their first product, The Caladan 250! As biotech and life sciences investors, we've witnessed an explosion of companies building with novel gene sequencing and editing toolsets and the impact they've had on drug discovery and drug development over the last couple of decades. It's been clear that these same tools would transform the way we manufacture a wide range of products from materials to fuel to chemicals and even food. However, the scale up of synbio companies outside of life sciences has been limited by the available infrastructure -- built for companies with entirely different cost structures. Industrial biotech companies creating animal-free food and materials, next-gen specialty chemicals, and fossil fuel alternatives can only break out if they can meet cost parity with incumbent products. Caladan offers the tools to increase experimentation throughput while enhancing data availability and quality, allowing these companies to leverage modern AI and ML tools, all at half the cost of the industry standard. We're thrilled to partner with Michael Kobida and Rob Jauquet on this seed round, and invest alongside Twelve Below, Collaborative Fund, and Lerer Hippeau!

24

2 Comments

What Learned This Week...... I saw no reason to watch debates this week. Instead, focusing on arbitrage in the AgTech venture market, renewable fuels, and improving rural healthcare. We are at a point in the investment cycle where the answer to the $1.9T in healthcare cost of poor nutrition will come from the farmers and entrepreneurs who figure out how to take the pressure from healthcare, Ozempic, and climate and turn it into a set of innovations that solve for all three. The innovations will likely come from the co-optimization of seed genetics, soil health, and food science. Combined with increased leadership from farmers and decreased market power of the processors. AI is the enabling force multiplier if it integrates with practical on-farm knowledge to co-create affordable nutrition. 1) Affordable nutrition will replace cheap calories. 2) The $53M investment by Andreessen Horowitz in Mark Hyman, MD Function Health is noteworthy. 3) Midwest farmers have an opportunity to tackle health in their local community. Increasing production of local fresh regenerative produce and collaborating with the rural health system to reduce diabetes. 4) Does anyone have any idea what to do with all the excess soybean meal from renewable diesel? 5) Both presidential candidates will support expansion into sustainable aviation fuel and renewable diesel because it is what farmers and export markets want. 6) If the Feds back out of 45z, blue states, foreign markets, climate billionaires, and corporations will fund the $5B to $10B in subsidy needed to close the business case. 7) Crop genetics and microbiome innovators need to develop technology that positively correlates crop energy and nutrient density—concurrently optimizing soil and genetics. 8) US fruit and vegetable production should move from California to the Mississippi Delta region. 9) CPGs know enough about regenerative agriculture to be dangerous. Farmers need to define best regenerative practices that work in their region. CPGs should shape the branding and food science. 10) Farmers working in a collective of 500k+ acres have the power to disrupt Co-Ops, Processors, nutrient density, and health. 11) To understand agriculture, Nestle, Unilever, BlackRock, JPM, etc need to hire FFA alumni as fast as possible. (Scott Stump) 12) South Asia and Southeast Asia (SASEA) are globalization's next frontier. Taking manufacturing from China. SADEA is a growing early adopter market for soy-based foods. 13) 10% of GHG is agriculture. If capital does not step in to fund recent venture shortfalls, we will lose 10 years of AgTech innovation required for affordable GHG mitigation. 14) H2 2024 and H1 2025 AgTech investments will likely be the best vintage year returns in decades. 15) My 2 cents on the Presidential debate is that a nutrient-dense diet rich in fresh vegetables improves golf handicaps in octogenarians. #foodishealth Brad Fruth Ellen Brown Clint Brauer Erin W. Martin Katie Stebbins Shari Rogge-Fidler

57

26 Comments

Is a Science Board for Carbon Farming necessary? Though the report doesn't explicitly discuss a science board, it implies the need for specialized expertise on the board of category-creating companies like those in carbon farming. A science board is crucial in: 1. Bridging Knowledge Gaps: A science board can help translate between category-creation realities and traditional company metrics, which is essential when dealing with VCs who may not fully understand the unique challenges of carbon farming. 2. Informed Decision-Making: Scientific expertise on the board can ensure that crucial decisions about funding, milestones, and strategy are based on data and industry-specific knowledge rather than gut feelings or conventional wisdom. 3. Realistic Goal-Setting: A science board can help establish appropriate milestones and timelines that make sense for a carbon farming company, considering the unique challenges and timelines of carbon sequestration projects. 4. Credibility with Investors: Having recognized scientific experts on the board can lend credibility to a carbon farming company, potentially helping to secure funding even in challenging market conditions. 5. Long-Term Vision: Scientists can provide insights into emerging research and technologies, helping the company maintain a long-term vision even when facing short-term financial pressures. 6. Risk Assessment: A science board can better evaluate the technical risks and opportunities specific to carbon farming, providing a more comprehensive risk assessment for investors and the company alike. The report also underscores that for category-creating companies like those in carbon farming, traditional governance structures are insufficient. An independent director with scientific expertise could have potentially helped Nori navigate the challenges it faced, balancing the need for conventional metrics with the unique requirements of building a new market in carbon removal.

5

CRISPR, and other biotechnological tools, are integral components of climate adaptation technology (CAT), enabling farmers to address challenges posed by climate change. These advancements facilitate the development of crop varieties that are more resilient to water scarcity, extreme heat, pests, and diseases. By enhancing crop resilience, CRISPR technology supports sustainable agricultural practices and contributes to global food security in the face of environmental stressors.

2

Bullish on this. CRISPR technology is poised to play a crucial role in equipping farmers with the tools necessary to manage climate-change-induced risks, including water, extreme temps, pests, and invasives.

1

An interesting article this week in FoodDive on 'citrus greening'. The article (link below) highlights how Florida’s citrus industry is leveraging biotechnology, such as gene editing, to combat challenges from climate change and citrus greening disease. Tools like CRISPR are creating disease-resistant, climate-resilient citrus trees, showcasing biotechnology as a vital climate adaptation technology (CAT). These innovations help farmers adapt to climate-change-induced pest & invasive risks. This reflects a broader agricultural trend where biotech, including drought-resistant crops and heat-tolerant livestock, is critical for maintaining productivity in our new climate reality. #biotech #climateadaptation Article here https://lnkd.in/eHiqeyea

2

Expressions of Interest (EOIs) for the Beanstalk AgTech Drought Venture Studio close this Friday July 12th. Since launching the venture studio the team have been engaging with researchers and AgriTech innovators, scouting for technologies that can be validated and commercialised. For those still considering the opportunity, here are a few details: - The Drought Venture Studio is specifically designed to support technology development and commercialisation at the earliest stage, including pre business incorporation. - Technologies can target drought resilience across a broad range of crop types and applications in the field and the back office. Examples include, water and soil management, pest and weed control, financial resilience and supply chain management systems. - Up to $250k in funding will be available for projects once validated, to support development as well as salary funding for co-founders in the early stages. - Need a co-founder? The venture studio will facilitate the process of bringing a co-founder or CEO into validated businesses. This recent webinar provides a great overview of the venture studio, the team and the process. All the EOI details can be found here 👇 - Applications: https://lnkd.in/gyqYB4ww - Webinar video: https://lnkd.in/g8RqXm9n Marcus Agnew, Jeremy Chan-Youker, Cal Archibald #agritech #sustainability #drought #BeanstalkVentureStudio #FutureDroughtFund

15

Today, Pivot Bio was featured in the New York Times. We appreciate the opportunity to share the breakthrough and innovative work that is underway at Pivot Bio. Thanks to a world-class group of forward-thinking investors, Pivot Bio has developed innovative solutions that are successfully used by thousands of farmers on millions of acres across the United States. Pivot Bio began with a simple mission — to improve the lives of farmers and the health of our planet. For more than a decade, our scientists have worked side by side with America’s farmers to create products that improve nitrogen performance; this is important, as fertilizer is one of the most significant input costs for farmers and has a major impact on our environment. Yet, cutting-edge science in agriculture only succeeds when it works for farmers. As was pointed out in the article, our breakthrough solutions are helping farmers enhance their crops' resiliency and profitability while conserving the natural resources essential for effective growth in all types of weather conditions. A couple of points that are important to make – our products are nitrogen fixing microbes natively part of the crop’s own microbiome. They are also gene edited to be better at fixing nitrogen. The science shows clearly that while our microbes are highly effective and resilient, they are naturally less competitive than their wild counterparts in the soil. These strains, which are naturally occurring and remodeled to do what they need to do, work specifically within the plant's root zone and microbiome, which helps them focus on supporting the plant. As the plant matures and stops producing exudates (which provide nutrients for microbes), the microbes complete their job and die. At this stage, they are no longer detectable in the soil. We know that nitrogen loss is a significant risk to the environment. It has been identified as a planetary boundary that has been crossed and is a significant driver of climate change and biodiversity loss. That is why the U.N. has committed to halving nitrogen loss by the end of the decade. Pivot’s microbes are our best and safest tool to achieve the world’s nitrogen loss reduction target. We also appreciated Eric pointing out the results that are being delivered to farmers. We believe farmers are the heroes of the world’s food supply chain, and we’re all on the same team when it comes to supporting their efforts to feed a growing population and evolve our food system. Farmers are the ultimate conservationists, biologists and innovators, and they are vital partners as we work to build the next generation of products that will meet their evolving nitrogen-management needs. We appreciate this story from The New York Times shining a light on the important and challenging work that our team continues to undertake. https://lnkd.in/gmwUbK68

174

8 Comments

🚨 🚘 An exciting day here at 8090 Industries as we ‘roll out’ our latest investment in ENSO - 2023 Earthshot Prize Finalist, to revolutionize a stagnant industry undergoing the largest shift since its inception, with no solution in place, an aging workforce, lacking ingenuity and a business model out of touch with the dynamic needs of its customers - TIRES. World, meet Gunnlaugur Erlendsson, the industrialist pioneering a new dawn for the tire industry. But first, a quick history lesson: __________________________ In 1898, Franklin "Frank" Seiberling, jobless, with a wife and three children, borrowed $3,500 for a down payment from his brother-in-law, to purchase an old strawboard factory in Ohio, to open a rubber company. A science and history nut, he named it after Charles Goodyear, the pioneer of vulcanization, the main method of how rubber was produced. Over the next decade, they brought mechanization and technology to the cumbersome and time-consuming process of hand building tires — enabling one man to produce 60 tires in ten hours as opposed to five tires built by hand in a day. His Seiberling State machine revolutionized tire building and led to an explosion in tire production output. By 1907 - it caught the attention of Henry Ford who purchased 1,200 sets of tires for the Model T. And as they say, the rest is history. By 1913 - Over half the tires made in the U.S. were manufactured on Seiberling’s machines. By 1916 - The The Goodyear Tire & Rubber Company became the largest tire producer in the world. _____________________ Today much has changed. @Goodyear is no longer the largest tire producer and tire manufacturers no longer own the direct relationship to fleets. That capitalistic, swashbuckling energy and entrepreneurial spirit that built Goodyear and pioneered the tire industry is in short supply, just when it needs it most as a global transition towards EVs compels the greatest growth opportunity for the tire industry in over a century. Led by Gunnlaugur Erlendsson, Enso produces tires perfectly fit for a world increasing run on EVs - that are tailored to endure the heavy weight and torque, last longer, cheaper and increase range by more than 10% today while bringing circularity to the supply chain and data through owning the direct relationship with fleets.  Don’t just take our word for it, some of the largest fleets in the world from Amazon to city cab fleets in Europe are already running on Enso tires and this is just the beginning. 👀 Stay tuned. Much to come! cc Kerem Ozmen Wes Mendenhall Filip Vurdelja Haluk Sabanci Dincer Grant Brown Ishan Meswani Garuth A. Andrew Irwin #climatetech #decarbonization

119

20 Comments

https://lnkd.in/epW-S5CY Well worth a read. A very thoughtful market based piece by Alison Grantham on a concerning trend.

13