Freeflow Ventures Funding Targets US-Based DeepTech Startups
Freeflow Ventures has raised $90 million to support early-stage deep-tech startups. The Freeflow Ventures funding was raised through multiple vehicles namely Fund Two, Opportunity Fund, and Fund One.
A press release published on BusinessWire shows that Freeflow Ventures raised $35 million through Fund Two, $25 million through Fund One, and $15 million through Opportunity Fund. The firm raised $15 million through special-purpose ventures.
The venture capital firm invests Freeflow equity funding in science-driven innovations that address planetary and human challenges.
Rich Background
Freeflow was established in the Caltech area of Pasadena, California in 2020. Since then, the venture capital firm has invested in 30 companies. It was founded by leading global scientists including three Chemistry and Physiology Nobel Laureates.
In recent years, the venture capital market has experienced challenges. But even in the face of the challenges, Freeflow has grown its fundraising twice, from Fund One to Fund Two.
Additionally, the venture capital firm launched an investment into Catena Bio recently. This is the first Freeflow deeptech investment that the company is making in startups within the Berkeley ecosystem.
Catena Bio is pioneering the next-generation Antibody Drug Conjugate (ADC) technology. The technology comes with a novel conjugation that facilitates varying payload capabilities in cancer treatment. These capabilities can improve patient outcomes significantly. Catena Bio’s co-founder and CEO, Marco Lobba previously worked on the technology that underlies the ADC approach. At the time, he was taking his PhD at the University of California, Berkeley. Catena Bio is a member of the Bakar BioEngenuity Hub at the University.
DeepTech in Berkeley
Breakthrough science and deepTech innovation are prominent in Berkeley. The two share similarities across Pasadena. From its inception, Freeflow Ventures funding has laid a strong investment foundation in Caltech. Now, the venture capital firm is looking to bring its tested ecosystem-based operating model to Berkeley. For Freeflow, this move is set to attract deals from two globally recognized scientific communities.
“This new funding enables us to expand our model to Berkeley, an important addition to our operating model because it shares so many similarities to Caltech and JPL where amazing founders working on large-scale solutions to important problems continue to create high-quality investment opportunities. These two communities align very well with our focused thesis on human and planetary health,” Freeflow Ventures Founder and Managing Partner, David Fleck said.
