Refactor Capital Fund 5

United States
Pre-Seed
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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, bio/climate/energy/aerospace, defensible IP

hard-tech
bio
climate
energy
aerospace

Bullish Signals

100% LP re-up, zero new investorsblog
6 unicorns across prior fundsblog
$300M AUM under single decision-makerblog
40+ exits including IPOs, unicornswebsite
Direct inbox access to solo GPwebsite
40+ portfolio exits (Coinbase, Clover, Spotify acq)website

Contrarian Signals

Solo GP concentration riskblog
$50M cap limits follow-on capacityblog

Founder Do's

Build in atoms not bits
Lead pre-seed rounds $1–2M
Show defensible science IP
Target reindustrialization tailwinds
Demonstrate supply chain resilience angle

Founder Don'ts

Pitch pure software plays
Expect checks above $2M
Ignore physical-world unit economics

Key GPs & Partners

ZB
Zal Bilimoria
Solo General Partner
solo-GPthesis-drivendisciplined

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Fund Overview

Fund Size$50M
Saves0

Key People

Zal Bilimoria

Zal BilimoriaSolo General Partner

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