/Investor DB

Two Bear Capital — Full Portfolio

29 tracked investments · listed companies and verified rows first

CIQciq.comin𝕏May 2022 · $26M✓ verified

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

Inimmuneinimmune.comin𝕏Series A · Jul 2020 · $22M✓ verified

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 Oncologysanavia.bioin✓ verified

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 Systemsarchsys.ioin𝕏Jul 2022 · $15M

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

Elisityelisity.comin𝕏Series A · Mar 2024 · $37M

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

FYR Diagnosticsfyrdiagnostics.comin𝕏Aug 2024

BiotechMissoula, US

Brian Conway(Executive Officer)inChristopher Booth(Executive Officer, Director)Sarjubhai Patel(Executive Officer, Director)

Board seatAvery SonnenbergMichael Goguen· per SEC Form D

Novoronnovoron.comin𝕏Dec 2022 · $3M

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

PULSEDATApulsedata.ioinApr 2021

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 Semiconductorr2semi.comAug 2015SEC filingmedium confidence

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

TileDBtiledb.comin𝕏Series A · Sep 2023 · $15M

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 Therapeuticsabilitatx.comin

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)

Abilitabioabilitabio.com

Abilita Therapeutics is a drug discovery company built on its EMP (Enabled Membrane Proteins) technology, which uses directed evolution to create stability- and expression-enhanced membrane protein variants.

BiotechDeep Tech

Bain Capital Private Equitybaincapitalprivateequity.comin𝕏Apr 2021 · $16.5M

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

Binarlybinarly.ioin𝕏Seed · Mar 2024 · $11M

Santa Monica, US

Alex Matrosov(Founder)Alex Matrosov Claudiu Teodorescu(Founder)

Co-investorsCanaan PartnersCisco InvestmentsOlive Tree CapitalStoneMill VenturesBlu Venture InvestorsEmerging Ventures

Concealconceal.ioin𝕏Oct 2025 · $26M

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

Dymiumdymium.ioinSeed · Mar 2024 · $7M

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

Fyr Biofyr.bioin𝕏

FYR develops a platform to analyze extracellular vesicles from blood samples and generate multiomics insights for disease understanding and personalized treatment selection.

AI & Machine LearningBiotechMedical Devices

Graphiantgraphiant.comin𝕏Series A · May 2025 · $62M

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

Gravwellgravwell.ioinOct 2025 · $15.4M

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 Adventuresgula.tech𝕏Oct 2025 · $15.4M

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 Bioleapfrog.bioin

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 Therapeuticsmontaratx.comin

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

QuSecurequsecure.comin𝕏Feb 2025 · $28M

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 Healthrainfallhealth.com

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

Reveniumrevenium.aiinSeed · Apr 2026 · $13.5M

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 AIselector.aiin𝕏Feb 2026 · $32M

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 Geneticsspiralgenetics.comSeedacquired by Omicia

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 Biotalus.bioin𝕏Jul 2024

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.

Abilita Bio

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.