Dimension Capital closes $800 million third fund, underscoring deep-tech boom
The venture capital firm, founded in late 2022, targets companies at the intersection of science and compute, with a portfolio including Anthropic and Chai Discovery.
Dimension Capital has closed its third fund at $800 million, marking a significant expansion for the New York-based venture capital firm. The new vehicle represents a 60 per cent increase from its second fund, which was valued at $500 million and raised just 18 months ago. The announcement highlights the firm’s ability to secure capital in a broader venture capital landscape where many newer firms continue to struggle with fundraising.
Established in late 2022 by Zavian Dar, Adam Goulburn, and Nan Li, Dimension Capital focuses on deep-tech companies operating at the intersection of science and compute. Dar and Goulburn, formerly partners at Lux Capital, joined forces with Obvious Ventures alum Nan Li to launch the firm. Their investment thesis posited that founders would increasingly build deep-tech ventures crossing the boundaries of biotech and software, a trend the partners say has played out more quickly than anticipated.
The firm’s portfolio includes several high-profile companies that illustrate this convergence. In 2024, Dimension Capital co-led a $30 million seed investment in Chai Discovery, a startup developing open-source AI foundation models for drug development. Chai Discovery recently announced it had raised $400 million at a $3.8 billion valuation. Additionally, the firm backed anti-aging startup New Limit at its Series A round in January 2025. Co-founded by Coinbase CEO Brian Armstrong, New Limit completed a Series C round earlier this month at a $3.1 billion valuation.
Beyond these recent deals, Dimension Capital holds investments in inference company Modal Labs and AI giant Anthropic. The firm received shares in Anthropic after the AI company acquired its portfolio entity, drug discovery platform Coefficient Bio, in the spring for a reported $400 million. These holdings underscore the firm’s early positioning in the AI and biotech sectors.
The rapid succession of funds raised by Dimension Capital contrasts with the challenges faced by many peers in the venture capital industry. By securing an $800 million third fund just four years after its founding, the firm demonstrates strong investor confidence in its strategy of backing companies that merge computational power with scientific discovery.
