Refactor Capital Fund 5

About Refactor Capital Fund 5

Refactor Capital Fund 5 is a $50M hard-tech focused seed fund led by solo GP Zal Bilimoria. The fifth fund in the Refactor series, it was raised entirely from existing LPs with 100% re-up rate. The fund leads pre-seed and seed rounds in bio, climate, energy, aerospace, and advanced manufacturing, with six unicorns across prior funds and roughly $300M in total AUM.

Investment Focus

Location / RegionUnited States

Funding StagePre Seed

Industry Focus

Biotech

Climate Sustainability

Deep Tech

Energy Tech

Manufacturing

Investor Signals Profile

active

Sweet Spot

Pre-seed hard-tech founder in bio, climate, energy, or aerospace

hard-tech

bio

climate

energy

advanced-manufacturing

Bullish Signals

100% LP re-up, zero new investorsblog

6 unicorns across prior fundsblog

$300M AUM under single decision-makerblog

Contrarian Signals

Solo GP concentration riskblog

$50M cap limits follow-on capacityblog

Founder Do's

Build in atoms not bits

Lead pre-seed hard-tech rounds

Show defensible science IP

Target reindustrialization tailwinds

Demonstrate supply chain resilience angle

Founder Don'ts

Pitch pure software plays

Expect large check sizes above $3M

Ignore physical-world unit economics

Key GPs & Partners

Zal Bilimoria

Solo General Partner

solo-GPthesis-drivendisciplined

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Fund Overview

Fund Size$50M

Saves0

Website

Key People