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Breakout Ventures Fund III

United States
Seed
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About Breakout Ventures Fund III

San Francisco-based deep science VC. Fund III ($114M) backs seed-stage founders commercializing scientific breakthroughs with a focus on AI-enabled neuroscience and biology. LPs include JIMCO and Korea Omega Investment Corporation.

Investment Focus

Location / RegionUnited States
Funding StageSeed
Industry Focus
Ai Ml
Biotech
Deep Tech

Investor Signals Profile

active

Sweet Spot

Scientist-founder building AI-accelerated platform in neurotech, drug discovery, or diagnostics

AI-enabled science
deep biotech
neuroscience
scientist-founders
platform discovery

Bullish Signals

Fund III freshly closed at $114M with institutional LPs JIMCO and Korea Omegablog
Surf Bio acquired by Halozyme up to $400M; Noetik GSK deal $50M upfront — real exitsblog
Neuroscience concentration positioned as earliest institutional call on new inflectionblog
Leads ~50% of rounds with $500K–$5M checks; takes double-digit equity positionsblog
Portfolio spans biotech, chem-tech, materials — broad science frontier coveragewebsite
Backs pre-company founders; open to pre-launch stagewebsite
Deep corporate & next-stage investor network for BD tractionwebsite
Portfolio includes carbon, gene therapy, biofabrication — frontier diversitywebsite
10+ years at science-tech frontier — rare institutional longevitywebsite
Embedded in markets founders need with corporate & strategic partner networkswebsite
Team has technical depth and commercial fluency to anticipate roadblockswebsite
Invest early with conviction; disciplined tailored approach to each companywebsite
Catalytic network drives traction and accelerates milestone achievementwebsite

Contrarian Signals

Avoids AI for admin/workflow; rejects generic AI-bio positioning entirelyblog
Neuroscience has more failed funds behind it than almost any biotech sub-verticalblog
Modest $114M size is intentional — not competing with large multi-stage fundsblog
Wide thesis (bio, chem, materials) risks diluted focuswebsite
Pre-company bets increase execution risk at portfolio scalewebsite

Founder Do's

Come as a scientist-first founder with a defensible core scientific discovery
Target drug discovery, diagnostics, neurotech, materials science, or biomanufacturing
Be open to pre-seed or seed with no commercial PMF yet but strong scientific foundation
Highlight platform potential — acquirable and partner-valuable company architecture
Engage GPs at a technical peer level; they will go deep on the science

Founder Don'ts

Don't pitch AI tools for admin or workflow automation — explicitly out of scope
Don't come with software-wrapper-only business models dressed as deep tech
Don't expect a passive investor — Breakout leads ~50% of rounds and takes conviction positions

Key GPs & Partners

LF
Lindy Fishburne
Managing Partner
thesis-drivenex-foundercontrarian
JM
Julia Moore
Co-Managing Partner
thesis-driven
NR
Nima Ronaghi
Partner
ex-founderhands-on
DW
Dana Watt
Partner
ex-founderhands-on

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Fund Overview

Fund Size$114M
Saves0
Website
LinkedIn

Key People

Lindy Fishburne, Julia Moore

Lindy FishburneManaging Partner
Julia MooreCo-Managing Partner
Nima RonaghiPartner
Dana WattPartner

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