Startups & Funding
Dimension Capital raises $800M third fund, its largest yet
Dimension Capital, a science-and-compute-focused VC firm, announced an $800 million third fund — 60% larger than its $500 million second fund raised just 18 months earlier.
While many newer venture capital firms are still struggling to raise fresh capital, Dimension Capital has moved in the opposite direction, raising increasingly larger funds in quick succession since its founding in late 2022. The New York firm, which invests at the intersection of science and compute, announced an $800 million third fund on Tuesday — 60% larger than the $500 million second fund it announced just 18 months earlier.
Dimension was launched four years ago when Zavian Dar and Adam Goulburn, formerly partners at Lux Capital, teamed up with Nan Li, an alum of Obvious Ventures. The three partners bet that founders would increasingly want to build deep-tech companies that crossed the boundaries of biotech and software — and now say they’ve been impressed by how quickly that thesis has played out.
In 2024, Dimension co-led a $30 million seed investment in Chai Discovery, a startup developing open-source AI foundation models for drug development. Chai Discovery announced last week that it had raised $400 million at a $3.8 billion valuation. Dimension also backed anti-aging startup New Limit, co-founded by Coinbase CEO Brian Armstrong, at its Series A round in January 2025; New Limit completed a Series C earlier this month at a $3.1 billion valuation.
The firm’s other notable investments include inference company Modal Labs and Anthropic. Dimension received shares in Anthropic after the AI company acquired Dimension’s portfolio company, the drug-discovery platform Coefficient Bio, this spring for a reported $400 million — giving the young firm exposure to one of the industry’s largest AI labs through an acquisition of one of its own bets.
Why it matters
The rapid fund progression — and Dimension’s ability to convert early-stage bets like Chai Discovery and New Limit into billion-dollar valuations within roughly a year — signals that investors still see room to underwrite science-heavy, compute-intensive startups even as many newer funds struggle to raise capital at all.