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Two Bear Capital is a venture capital firm founded in 2019 by Mike Goguen. The firm is headquartered in Whitefish, Montana, with additional offices located in Menlo Park, New York, San Diego, and Boston. Since its inception, Two Bear Capital has focused on investing in founders who are addressing complex challenges through innovative solutions in technology and life sciences.
The firm currently manages a portfolio of 30 companies and primarily invests in early-stage rounds, including Pre-seed, Seed, Series A, and Series B. Two Bear Capital aims to build enduring companies that can deliver significant impact through their innovations. The firm has established a reputation for its expertise in life sciences and technology, which it leverages to support its portfolio companies.
Notable milestones include the establishment of a diverse portfolio that spans various sectors, including biotechnology, healthcare IT, and machine learning. The firm is committed to creating economic opportunities for innovative founders and has positioned itself as a key player in the venture capital landscape.
Two Bear Capital invests in sectors that are at critical inflection points, including biotechnology, bioinformatics, healthcare IT, machine learning & AI, and information security. The firm seeks to identify and support disruptive innovations that can significantly impact these fields. Their investment strategy emphasizes early-stage investments, primarily targeting Seed and Series A rounds, while remaining open to Pre-Seed and Series B opportunities.
The typical check size ranges from $3 million to $10 million, allowing the firm to provide substantial support to its portfolio companies. Geographic focus includes the United States and Canada, reflecting a commitment to fostering innovation in these regions. Two Bear Capital looks for founders with innovative ideas aimed at addressing complex problems, particularly in life sciences and technology.
In addition to financial support, Two Bear Capital provides strategic guidance and facilitates connections within the industry, enhancing the potential for success among its portfolio companies. The firm’s investment thesis revolves around partnering with visionary founders who are committed to making a meaningful impact through their work.
Two Bear Capital's portfolio includes a diverse range of companies that are positioned to deliver significant impact through their innovations. Notable portfolio companies include:
Mike Goguen - Founder & Managing Partner. Mike has extensive experience in venture capital and has led numerous successful investments in technology and life sciences.
Mark Adams, PhD - Partner. Mark holds a PhD and brings expertise in biotechnology and healthcare investments.
Jenna Aronson, PhD - Principal. Jenna has a strong background in life sciences and focuses on identifying innovative startups.
Amalia Colangelo, PhD - Principal. Amalia specializes in healthcare IT and has a track record of successful investments in the sector.
Eric Fulton - Venture Partner. Eric provides strategic insights and guidance to portfolio companies.
Rachel Tsunemoto Hislop, PhD - Principal, Director of Research. Rachel leads research efforts to identify emerging trends in technology and life sciences.
Jeff Miller - Operating Partner, Enterprise. Jeff has a background in enterprise software and supports portfolio companies in scaling operations.
Cris Neckar - Partner. Cris focuses on investments in consumer and fintech sectors.
Avery Sonnenberg, PhD - Principal. Avery has expertise in bioinformatics and contributes to the firm's life sciences investments.
J. Seth Strattan, PhD - General Partner. Seth has a strong background in venture capital and technology investments.
Neil White - Partner. Neil focuses on investments in climate and sustainability sectors.
Tim Veil - Principal. Tim supports the firm's investment strategy in technology and innovation.
Kevin Day - Partner, Head of Capital Formation. Kevin leads efforts to raise capital for the firm's funds.
Meagan Hennig - Partner, Head of Operations. Meagan oversees the firm's operational strategies and processes.
Jennifer Howrigan - VP, Investor Relations. Jennifer manages relationships with investors and stakeholders.
Nikki Johns - VP, Talent Acquisition. Nikki focuses on recruiting top talent for portfolio companies.
Liz Marchi - Head of Community Engagement. Liz works to build relationships within the startup community.
To pitch to Two Bear Capital, founders should use the contact form available on their website. It is important to include a clear overview of the business model, market opportunity, and team background in the pitch deck. The firm prefers concise presentations that highlight key metrics and milestones.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial, as they can enhance the likelihood of a favorable review.
As of March 2023, Two Bear Capital has been actively engaging in the venture capital space, focusing on building a diverse portfolio that delivers significant impact through innovation. The firm has not publicly disclosed any recent blog activity or specific updates, but its ongoing investments reflect a commitment to supporting founders in critical sectors.
Two Bear Capital continues to expand its presence in the venture capital landscape, leveraging its unique location in Montana to access emerging technology ecosystems. The firm remains focused on identifying and supporting innovative startups that align with its investment thesis.
What are Two Bear Capital's investment criteria?
Two Bear Capital primarily invests in early-stage companies, focusing on Seed, Series A, Pre-Seed, and Series B rounds. The firm targets sectors such as biotechnology, healthcare IT, AI, fintech, consumer, and climate.
How can I apply or pitch to Two Bear Capital?
Founders can pitch their companies through the contact form available on the Two Bear Capital website. The firm accepts pitches from companies based in the United States and Canada.
What makes Two Bear Capital different from other venture capital firms?
Two Bear Capital distinguishes itself by focusing on sectors at critical inflection points and investing in disruptive innovations. The firm emphasizes strategic guidance and industry connections to enhance the success of its portfolio companies.
What is the geographic scope of Two Bear Capital's investments?
The firm primarily invests in the United States and Canada, reflecting its commitment to fostering innovation in these regions.
What is the typical fund size and check size for Two Bear Capital?
While specific fund sizes are not disclosed, Two Bear Capital typically invests between $3 million and $10 million in its portfolio companies.
What kind of post-investment involvement does Two Bear Capital have?
Two Bear Capital provides strategic guidance and facilitates connections within the industry, actively supporting its portfolio companies beyond just financial investment.
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