Investor profile

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Two Bear Capital

VC

United StatesCanadaBio/PharmaHealthtechAI/MLCybersecurityB2B SaaSDeep Tech

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Investment thesis

Two Bear Capital invests in founders with breakthrough ideas to solve urgent, complex problems by harnessing life sciences and technology. The firm focuses on disruptive innovations at critical inflection points in biotechnology, bioinformatics, healthcare IT, machine learning & AI, and information security. Two Bear Capital provides early-stage capital and mentorship to turn boot-strapping startups into companies built to endure. Their portfolio companies operate at the intersection of technology and life sciences—often in areas where the two are so seamlessly integrated as to form a new, unified discipline. These are companies that will cure disease, reveal insights hidden in vast quantities of data, and create safer, more efficient networks for individuals and enterprises.

Notable quotes

Effectively harnessing the incredible power of the human immune system has the potential to prevent or cure the most devastating diseases faced by humanity – from Covid-19, to cancer, to neurodegenerative diseases and more – and the need for solutions today is more urgent than ever. The team at Inimmune combines world-class immunology and vaccine expertise, proven track records and a passion for solving some of the most important medical crises of our time.

Mike Goguen · Inimmune Series A Announcement · 2020-07-09

Two Bear Capital is proud to be leading the seed funding round for Binarly. Binarly's technology platform stands out for its ability to address firmware and software supply chain issues at scale, a critical concern for businesses worldwide.

Mike Goguen · Binarly Seed Funding Announcement · 2024-06

Team

Mike Goguen

Founder & Managing Partner

CybersecurityBio/PharmaAI/MLDeep Tech

J. Seth Strattan

General Partner

Bio/PharmaHealthtechAI/ML

Cris Neckar

Partner

Cybersecurity

Avery Sonnenberg

Partner

Bio/PharmaHealthtech

Neil White

Partner

Rachel Tsunemoto Hislop

Principal, Director of Research

Bio/PharmaHealthtech

Recent investments

CompanyRoundSizeDate
Rainfall HealthSeries A2026-02
SelectorSeries B2026-02
ReveniumSeed2025-11
GravwellSeries A2025-10
ConcealSeries B2025-05
Montara TherapeuticsSeed$8m2024-07
BinarlySeed$11m2024-03
ElisitySeries B$45m2024-04
TileDBSeries B$34m2023-10
GraphiantSeries B$62m2023-03

Frequent co-investors

VC firmDeals together
WestWave Capital4
Canaan Partners3
Cisco Investments3
Liquid 2 Ventures3
BLU Venture Investors3
Sequoia Capital1

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