KdT Ventures announced the closing of its oversubscribed fourth fund (Fund IV), raising over $100 million to support early-stage, science-driven companies. And Fund IV is the firm’s largest fund to date, and follows KdT’s previous $80 million Fund III which was announced in 2022. The firm’s total assets under management now exceed $250 million.
KdT will focus on companies applying cutting-edge technologies to physical systems, covering diverse sectors ranging from therapeutics, digital health, industrial biotechnology, and climate at the earliest inception stages. In recent years, most venture capital firms have raised successively larger funds, requiring the deployment of larger and later-stage checks to drive returns. As an early-stage fund, KdT also believes the current fund size enables the firm to remain committed to its mission of supporting scientific innovations at the earliest stages of its founding.
By partnering with founders at the earliest stages, KdT Ventures also often provides the first institutional investment in a company, writing initial checks ranging from $500,000 to $5 million. And the firm also has the capacity to evaluate later-stage opportunities, leveraging its institutional LP base for larger investments.
As part of the growth strategy, KdT is announcing two key promotions:
1.) Phil Grayeski, Ph.D., has been promoted to Managing Partner. Grayeski played a major role in shaping KdT’s investment strategy since Fund I in March 2018, with significant experience in biotechnology and genetic medicine. And Grayeski was previously involved with spinning out several biotechnology companies from academia, including Torque Bio, StrideBio, and Ribometrix, as an early operator and founder.
2.) Patrick Malone, M.D., Ph.D., has been promoted to Partner. And he brings expertise in neuroscience and machine learning and started his investment career at Northpond Ventures.
Founded by Cain McClary in 2017, KdT Ventures features an investment team of Scientific Athletes, with nine advanced degrees, 48 years of combined graduate scientific and clinical training, and experience co-founding four biotechnology companies.
Plus, the depth of the KdT portfolio, which now stands at 65+ companies across multiple physical layer supply chains, enables deep market understanding and creative insights at the convergence of legacy industries. This blend of technical expertise and entrepreneurial acumen enables KdT to provide deep technical and strategic support to a select few early-stage investments annually, enabling portfolio company growth.
KEY QUOTES:
“Scientific breakthroughs are rapidly transforming our physical world, and we remain committed to backing the most ambitious founders who are harnessing these advances to build groundbreaking companies. Our investments target technical founders who are leveraging cutting-edge chemistry, biology, compute and other scientific disciplines to create revolutionary products and technologies.”
– Cain McClary, M.D., Founder and Managing Partner, KdT Ventures
“Our team’s unique scientific and operational experience provides strategic insights at inception to maximize the potential of technological platforms across the diverse verticals covered by the firm. In practice, we’ve repeatedly demonstrated our ability to find and support disruptive companies across each vertical of focus.”
– Phil Grayeski, Ph.D., Managing Partner, KdT Ventures
“Our approach has always been to find and support entrepreneurs who are solving complex challenges by leveraging the convergence of computational tools and science. With our deep technical expertise, outsized team and relentless desire to be the best early stage science firm, we’re well positioned to provide the hands-on support that founders need to build transformative companies.”
– Mack Healy, J.D., Managing Partner, KdT Ventures
