Two Bear Capital
Overview
Two Bear Capital is a venture capital firm that invests in brilliant entrepreneurs who have breakthrough solutions to difficult and critical problems by harnessing life sciences and technology. The firm primarily focuses on early-stage, founder-led companies with disruptive innovations in life sciences and technology, specifically in biotech, bioinformatics, healthcare IT, machine learning and AI, and information security sectors. Two Bear Capital has offices in Menlo Park, San Diego, Boston, and New York, with its home base in Whitefish, Montana.
Investments
| Company | Date | Stage | Lead |
|---|---|---|---|
| Selector | Feb 2026 | Early Funding | Co-investor |
| CIQ | May 2022 | Series A | Lead |
| Graphiant | May 2025 | Series B Extension | Co-investor |
| Talus Bio | Aug 2024 | Seed | Lead |
| Dymium, Inc | Mar 2024 | Seed | Lead |
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Key People
Michael Goguen
Founder Managing Partner
J. Seth Strattan
General Partner
Jeff Miller
Operating Partner
Eric F.
Venture Partner
John L. Sullivan
Venture Partner
Avery Sonnenberg
Partner
Cris Neckar
Partner
Kevin Day
Partner, Head Of Capital Formation
Meagan Hennig
Partner, Head Of Operations
Jenna Aronson
Principal
Jennifer Howrigan
VP, Investor Relations
Tim Veil
Chief Information Officer
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Sector & Stage Mix
Industry, funding stage, and valuation band breakdowns.
FAQ
Where is Two Bear Capital based?
Two Bear Capital is headquartered in Whitefish, Montana, United States.
When was Two Bear Capital founded?
Two Bear Capital was founded in 2019.
How many portfolio companies does Two Bear Capital have?
Two Bear Capital has 20 portfolio companies in Caplight's dataset.
What are some companies in Two Bear Capital's portfolio?
Portfolio companies visible on Caplight include Selector, CIQ, Graphiant, Talus Bio, Dymium, Inc.
What was Two Bear Capital's most recent investment shown here?
Two Bear Capital's most recent investment in this portfolio sample was in Selector in 2026.
What sectors does Two Bear Capital focus on?
Two Bear Capital focuses on Healthcare & Life Sciences, Healthcare & Life Sciences, Healthcare & Life Sciences, Healthcare & Life Sciences, Healthcare & Life Sciences, Healthcare & Life Sciences, Cybersecurity, Cybersecurity, Cybersecurity, Cybersecurity, Healthcare & Life Sciences, AI, Data & Cloud Infrastructure, Cybersecurity, Telecommunications & Networking, Healthcare & Life Sciences, AI, Data & Cloud Infrastructure, AI, Data & Cloud Infrastructure, AI, Data & Cloud Infrastructure, Cybersecurity, AI, Data & Cloud Infrastructure, Frontier & Industrial Tech, AI, Data & Cloud Infrastructure, Enterprise Software, Telecommunications & Networking, Enterprise Software, Enterprise Software, AI, Data & Cloud Infrastructure, AI, Data & Cloud Infrastructure, Enterprise Software, AI, Data & Cloud Infrastructure, Enterprise Software, Enterprise Software, Enterprise Software, Enterprise Software.
What company stages does Two Bear Capital focus on?
Two Bear Capital typically invests at the Early stage.
What is Two Bear Capital's AUM?
Two Bear Capital's assets under management are estimated between $100.0M and $250.0M.