Two Bear Capital — Full Portfolio
29 tracked investments · listed companies and verified rows first
CIQ is an enterprise infrastructure software company that builds and supports the Linux, HPC, and AI infrastructure stack from the kernel to the orchestrator, serving enterprises, research institutions, and government agencies.
AI & Machine LearningCloud ComputingData & InfrastructureDeveloper ToolsReno, US
Gregory Kurtzer(Founder & CEO)inBjorn Hovland(President)inPeter Nelson(Chief Technology Officer)inMarlin Prager(CFO)in
Co-investorsRho Capital PartnersRho Ventures
Inimmune is a clinical-stage biotech company developing immunotherapies for allergy, cancer, infectious, and autoimmune diseases.
AI & Machine LearningBiotechDeep TechHealthtechWhitefish, US
Jay EvansinDavid BurkhartinHelene Bazin-LeeinKendal Ryterinalan joslynin
Sanavia discovers novel cancer-specific epitopes using proprietary immunization technology and AI to enable more effective antibody therapies for oncology.
AI & Machine LearningBiotechDigital HealthHealthtechMedical Devices
Arch builds agentic AI that acts as a virtual factory expert, analyzing manufacturing data to identify root causes and give operators, engineers, and shift leaders prescriptive next steps in real time.
Advanced ManufacturingAI & Machine LearningIoTPalo Alto, US
Andrew Scheuermann(CEO & Co-founder)inTim Burke(CTO & Co-founder)inJennifer Davis(Chief Operating Officer)inBen Freeman(SVP of Engineering)inGus Shahin(Director)
Board seatMichael Goguen· per SEC Form D
Co-investorsCapmontComet LabsHCVCMerus CapitalNeotribe VenturesStartX+3 more
Elisity provides an identity-based microsegmentation platform that turns existing network infrastructure (Cisco, Arista, Aruba, Juniper switches and Palo Alto firewalls) into policy enforcement points to discover devices and enforce least-privilege access without agents, new hardware, or re-IPing.
CybersecurityEnterprise SoftwareIoTSaaSSan Jose, US
Brian Thompson(Executive Officer)inJames Winebrenner(Executive Officer, Director)inBurjiz Pithawala(Founder)Srinivas Sardar(Founder)Sundher Narayan(Founder)
BoardBrian Long(Director)in
Board seatMichael Goguen· per SEC Form D
Co-investorsAllegisCyber CapitalAtlantic Bridge VenturesInsight PartnersRain CapitalALLEGIS CAPITALTCV
BiotechMissoula, US
Brian Conway(Executive Officer)inChristopher Booth(Executive Officer, Director)Sarjubhai Patel(Executive Officer, Director)
Board seatAvery SonnenbergMichael Goguen· per SEC Form D
Novoron develops lipoprotein-receptor small molecule therapies aimed at repairing damage and degeneration of the brain and spinal cord, including treatments for proteinopathies and neuroregeneration following traumatic injury.
BiotechDeep TechHealthtechMedical DevicesSan Diego, US
Travis Stiles(CEO & Co-founder)inShawn Gahr(COO & Co-founder)inDavid Weiner(Executive Chairman)Ryan McMillian(CFO & Financial Strategy)
Board seatMichael Goguen· per SEC Form D
Co-investorsBackstage Capital
PulseData builds patented machine learning and AI predictive analytics models that help healthcare organizations identify chronic diseases earlier and predict disease progression, with a focus on kidney disease and end-stage renal disease.
AI & Machine LearningDigital HealthHealthtechNew York, US
Hai Po Sun(Co-founder)inTeddy Cha(Co-Founder)inHai PoinDean Panovich(Chief Executive Officer)in
BoardDANIELLE WANG(Director)
Board seatMichael Goguen· per SEC Form D
Co-investorsAlumni VenturesArba LLCBloomberg BetaBlue CollectiveChicago VenturesMilkbox Partners+3 more
R2 Semiconductor develops power management semiconductor technology, including envelope tracking for RF power amplifiers and core power management for multi-core application processors and digital SoCs.
Deep TechHardwareIoTSemiconductorsSunnyvale, US
DAVID FISHER(Executive Officer, Director)ANDREW HARTLAND(Executive Officer)
BoardFAHRI DINER(Director)ROBERT SCHWARTZ(Director)BOB PAVEY(Director)RICHARD GOLD(Director)
Board seatMichael Goguen· per SEC Form D · $10M raise · filed Aug 2015
Co-investorsThird Point VenturesSigma Prime Ventures, Llc
TileDB builds a database platform for organizing, cataloging, and analyzing large-scale data across organizations.
AI & Machine LearningBiotechCloud ComputingData & InfrastructureEnterprise SoftwareCambridge, US
Stavros Papadopoulos(Founder)inSamuel Madden(Director)in
BoardAbhishek Sharma(Director)in
Board seatMichael Goguen· per SEC Form D
Co-investorsAlleyCorpBig Pi VenturesIntel CapitalNTT DOCOMO VenturesS VenturesSAV (Scale Asia Ventures)+3 more
Abilita Therapeutics is a drug discovery company focused on membrane protein targets, using its EMP (Enabled Membrane Proteins) technology based on directed evolution to create stability- and expression-enhanced protein variants for discovering and optimizing drug candidates.
BiotechDeep TechSan Diego, US
Mauro Mileni(Founder & Chief Executive Officer)inMatthew Ritter(Chief Business Officer)Jim Schmidt(Chief Financial Officer)Arshan Amiri(General Counsel)
Bain Capital Private Equity is an investment firm operating a private equity portfolio, with an investor portal for account holders.
Boston, US
Co-investorsBain CapitalBain Capital Double Impact Fund LPBain Capital Life SciencesBain Capital Tech Opportunities
Santa Monica, US
Alex Matrosov(Founder)Alex Matrosov Claudiu Teodorescu(Founder)
Co-investorsCanaan PartnersCisco InvestmentsOlive Tree CapitalStoneMill VenturesBlu Venture InvestorsEmerging Ventures
Conceal builds browser-based security that moves enforcement into the browser runtime and application layer, binding application access to identity rather than network location.
CybersecurityEnterprise SoftwareSaaSAugusta, US
Craig Whetstone(Executive Officer)inEric Cornelius(Director, Executive Officer)inGordon Lawson(Executive Officer, Director)inRonald Kolson(Executive Officer)
BoardSpencer Tall(Director)inRon Gula(Director)in
Co-investorsAllegisCyber CapitalGula Tech AdventuresRRE Ventures
Dymium is a data-centric, zero-trust platform that governs access to enterprise data in real time, applying identity-, role-, and context-based policies before data is returned.
AI & Machine LearningCybersecurityData & InfrastructureLos Gatos, US
Valentyn Kamyshenko(Founder)in
Co-investorsSINEWAVE VENTURES
Graphiant provides a software-based, unified network platform for connecting AI, cloud, SaaS, B2B, and branch environments.
Cloud ComputingData & InfrastructureEnterprise SoftwareSan Jose, US
Stefan Olofsson(Founder)in
Co-investorsHarpoon VenturesMVP VenturesSequoia CapitalAtlantic Bridge VenturesIAG Capital PartnersWa'ed Ventures
Gravwell is a security data platform that collects, stores, and analyzes unstructured logs and large data volumes in raw format without enforcing predefined schemas.
CybersecurityData & InfrastructureEnterprise Software
Kristopher Watts(Founder)in
Co-investorsGula Tech AdventuresInnosphere VenturesKickstartNext Frontier CapitalRevolution
Gula Tech Adventures invests in and supports cybersecurity companies, combining venture investments with philanthropy and cyber advocacy.
Cybersecurity
Ron Gula(Co-founder)inCyndi Gula(Co-founder)in
Co-investorsInner Loop Capital
Leapfrog Bio is an oncology therapeutics company that uses its Precision PGx Platform to identify and develop targeted cancer treatments, focusing on patients with loss-of-function mutations through synthetic lethality and pharmacogenomic screening.
AI & Machine LearningBiotechDeep TechHealthtechMedical Devices
Tomas Babak(Founder and CSO)in
Montara is a biotech company developing small-molecule therapeutics focused on neurodegeneration and diseases such as Alzheimer's.
AI & Machine LearningBiotechDeep TechSan Francisco, US
Kevan Shokat(Co-Scientific Founder & Chairman of the SAB)Thomas Südhof(Co-Scientific Founder & SAB Member)Seth Stratton(Director)Dirk Langdorf(Director)Nicholas Hertz(Executive Officer, Director)
Co-investorsBEVCDolby Family VenturesSV Health InvestorsDementia Discovery FundKdT Ventures
QuSecure provides a cryptographic management platform that discovers, remediates, and reports on encryption across cloud, on-premises, and legacy systems.
Crypto & Web3CybersecurityEnterprise SoftwareQuantum ComputingSan Mateo, US
Rebecca Krauthamer(Founder)inDave Krauthamer(Founder)in
Co-investorsKickstart InnovationStartXTechstarsAccenture VenturesBand of Angels
Rainfall Health provides a compliance and reimbursement-modeling platform built for the CMS TEAM Model, helping hospital CEOs and CFOs quantify and capture TEAM incentives across surgical episodes and the mandatory 30-day post-discharge window.
Digital HealthHealthtechSaaS
Ahmed 'Eddie' Qureshi(Founder)in
Co-investorsPack Ventures
Revenium provides real-time attribution and cost monitoring for AI spend, breaking down every model call, agent turn, and tool call by team, customer, feature, and agent.
AI & Machine LearningCloud ComputingData & InfrastructureFintechSaaS
John(Co-founder (Architecture Lead))inJason(Co-founder (Product Strategy))in
Co-investorsWestWave Capital
Selector builds an AI-driven observability platform that helps operations teams understand and manage complex infrastructure through natural language interaction and contextual intelligence.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSanta Clara, US
Kannan Kothandaraman(Founder)inNitin Kumar(Founder)in
Co-investorsAnsa CapitalAtlantic Bridge VenturesAzure Capital PartnersComcast VenturesSINEWAVE VENTURESAtlantic Vantage Point+2 more
Spiral Genetics develops software for analyzing and comparing whole human genome data across large populations to identify genetic patterns and variants.
AI & Machine LearningHealthtechSeattle, US
Adina Mangubat(Founder)inJeremy Bruestle(Director)Alindrina Mangubat(Executive Officer, Director)
BoardRichard Jacroux(Director)
Co-investorsSeaChangeY Combinator415 CapitalCP VenturesDFJEverHaüs+7 more
Talus develops a proprietary platform that measures and modulates the regulome—the body's gene expression control system—in native cellular contexts.
AI & Machine LearningBiotechDeep TechHealthtechSeattle, US
Alex Federation(Founder)inLindsay Pino(Founder)inAlex Federation, Ph.D.(Chief Executive Officer & Co-Founder)Lindsay Pino, Ph.D.(Chief Technology Officer & Co-Founder)
BoardOmri Amirav-Drory(Director)inJ. Seth Strattan(Director)in
Co-investorsFarvatn VentureFifty YearsFundersClubJude GomilaNFXPioneer+11 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.


















































































































