4 VCs and 4 funds investing in biotech
Co-Founder & Partner
Founders Fund
Check: $1M-$100M+ (multi-stage, also invests personally and through Thiel Capital)
The original contrarian VC. 'We wanted flying cars, instead we got 140 characters.' Seeks companies that can become category-defining monopolies in markets others ignore. First principles thinking is non-negotiable. The key question: 'What important truth do few people agree with you on?' Backs revolutionary technology, not incremental improvements. The Venn diagram of 'right' and 'different' is where he invests. Thiel's intellectual framework is deeply philosophical — draws from René Girard's mimetic theory (competition is imitation, and imitation destroys value), Leo Strauss, and libertarian economics. Founders Fund's motto: 'We wanted flying cars, instead we got 140 characters' — a critique of Silicon Valley's focus on trivial consumer apps instead of transformative technology. Thiel distinguishes between 'definite optimism' (having a concrete plan to build a better future) and 'indefinite optimism' (vaguely hoping things get better). He champions the former. Created the Thiel Fellowship ($100K grants for young people to drop out of college and build companies) — alumni include Vitalik Buterin (Ethereum), Austin Russell (Luminar Technologies), and others.
Founder
Khosla Ventures
Check: $500K-$50M+ (across seed fund and main fund)
Explicitly optimizes for ~70% failure rates to back 'black swan' outcomes. Actively seeks opportunities that appear 'crazy' to most of the market. Capital-intensive, science-heavy bets. Believes fusion and superhot geothermal will be primary energy sources by mid-2030s. Bets on the future being radically different from the present. Co-founded Sun Microsystems. Famous for saying 'expertise is the enemy of imagination' — believes experts are often the worst at predicting disruption in their own fields because they're anchored to existing paradigms. Has been one of the most aggressive climate tech investors, putting billions into energy transition companies. Views AI as the most transformative technology in history, predicting it will replace 80% of jobs in 80% of occupations within decades. Runs both a seed fund (for earlier, riskier bets) and a main fund (for larger investments). Willing to lose money on most investments if the winners are transformational.
Co-Founder & Managing Partner
Lux Capital
Check: $1M-$50M+
'Atoms, not bits.' The biggest opportunities are in companies that manipulate the physical world, not just software. Willing to fund multi-year R&D timelines. Just raised the firm's largest fund ever ($1.5B, Jan 2026, oversubscribed). Invests at the intersection of science and engineering where structural technical advantages create durable moats. Core belief: the 'directional arrow of progress' in science is inevitable — you can bet on where science is going because it only moves forward. Lux looks for 'narrative violations' — moments when consensus is wrong and reality is about to prove it. Josh believes the best founders have 'a secret' — proprietary technical insight that others can't see or don't believe. Has been vocal that the defense tech renaissance is just beginning, not a trend.
Founder
Gil Capital (Solo GP)
Check: $500K-$10M+ (flexible, has written checks as large as $50M+ in later-stage co-investments)
One of the largest and most successful solo GP funds ever ($1B+). Unusually dense hit rate across breakout companies — has invested in more unicorns than most institutional funds. Invests based on pattern recognition from decades of operating and investing. Moves fast, decides fast — known for making investment decisions in a single meeting. Written 'The High Growth Handbook,' the definitive guide on scaling from Series B to IPO. Being on your cap table is a strong signal to other investors — 'Elad Gil is on the cap table' has become a credibility marker in Silicon Valley. Currently most excited about AI as a platform shift comparable to mobile and cloud. Has shifted from primarily angel investing to writing larger checks ($5-50M+) as his fund has grown. Views the current AI wave as the most important technology shift since the internet.