Dimension Capital closes $800M third fund as science-compute startups attract record venture interest
Dimension Capital closed an $800 million third fund, 60% larger than its previous raise, as startups blending AI with biotech deliver outsized returns. Portfolio companies Chai Discovery and New Limit have each reached multi-billion-dollar valuations.
Dimension Capital announced an $800 million third fund on Tuesday, marking a 60% increase from its $500 million second vehicle raised 18 months prior. The New York-based firm, founded in late 2022 by former Lux Capital partners Zavian Dar and Adam Goulburn alongside Obvious Ventures alum Nan Li, focuses on deep-tech companies that blend biotech with software and AI.
The fund's rapid growth reflects tangible returns from the firm's core thesis. In 2024, Dimension co-led a $30 million seed round in Chai Discovery, a startup developing open-source AI foundation models for drug discovery. Last week, Chai announced a $400 million Series B at a $3.8 billion valuation. The firm also backed New Limit, an anti-aging startup co-founded by Coinbase CEO Brian Armstrong, at its Series A in January 2025. The company recently closed a Series C at a $3.1 billion valuation.
Dimension's portfolio includes inference infrastructure firm Modal Labs and a stake in Anthropic, acquired after the AI company purchased the firm's drug discovery platform Coefficient Bio for approximately $400 million this spring.
For investors tracking the VC market, the data signals demand for founders tackling hard problems at the intersection of biology and computation. While many newer venture firms still struggle to raise capital, Dimension's ability to close increasingly larger funds in quick succession suggests limited partners view the science-compute thesis as a proven category rather than speculative bet.
