Top Qs
Timeline
Chat
Perspective
Breakout Ventures
Part of the Thiel Foundation From Wikipedia, the free encyclopedia
Remove ads
Breakout Ventures, formerly Breakout Labs,[1] is a venture capital firm affiliated with the Thiel Foundation (a philanthropic organization created by Peter Thiel).[2]
Breakout Labs issued convertible grants[3] for early-stage commercialization of scientific research that was considered too speculative or long-term to interest the for-profit sector (such as angel investors and venture capitalists) but may have been unsuitable for traditional sources of funding for scientific research due to its radical or offbeat nature.[4] Grants were made through a competitive application and selection process.[5]
Remove ads
History
Breakout Labs was launched in November 2011.[6]
In 2016, Breakout Ventures was created.[7]
In 2017, its debut fund was closed with US$60.1 million in commitments.[8]
In December 2021, its second fund was oversubcribed with US$112.5 million in commitments.[9]
Recipients
Breakout Labs announced its first batch of grantees on April 17, 2012,[10] its second batch of grantees on August 15, 2012,[11] and its third batch of grantees in April 2013.[12] In total, Breakout Labs made 50 investments before winding down the program in 2021:[13]
The firm focuses on biotech with a mix of hardware. Its partners include Founders Fund, Formation 8, OATV, Lux Capital, Khosla Ventures among others.[14] Some of its recent investments include Noetik (cancer treatment),[15] Cytovale (medical diagnostics),[16] Passkey Therapeutics (synergistic multifunctional therapeutics),[17] Corpernic Catalysts (catalysts for ammonia production),[18] EnPlusOne Biosciences (RNA therapeutics),[19] Phantom Neuro (neurotechnology).[20]
Remove ads
Media coverage
The announcement of Breakout Labs (October 2011), as well as the announcements of its first batch of grantees (April 2012), received considerable media attention.[21] The first and second batches of grantees were covered by TechCrunch.[22][23] Breakout Labs was also covered in Nature[24] and Scientific American.[25]
References
External links
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads