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A Leader in Venture Capital
In the competitive world of venture capital, few individuals have achieved the level of success and independence that Zal Bilimoria has. As a solo general partner at Refactor Capital, he has been making waves in the industry since 2018 with his unique approach to investing.
The Decision to Stay Solo
Bilimoria’s decision to remain a solo GP was not taken lightly. In fact, it was former colleague David Lee who convinced him to stay solo, and that was at a time when solo GPs were not in vogue. "He told me that since I love my independence and authority and love spending time with founders, I should stay solo," Bilimoria told TechCrunch.
A Unique Pedigree
Before joining Refactor, Bilimoria spent nearly three years as a partner at Andreessen Horowitz, where he helped get the firm’s $200 million Bio Fund off the ground. Prior to a16z, Bilimoria spent a decade building tech products at tech giants, including Google, Netflix, LinkedIn, and Microsoft. He was also the founder of consumer mobile startup Sniply.
Investing in the Future
With Refactor, Bilimoria is investing in companies "solving the biggest challenges facing society." In fact, the term ‘refactor’ comes from computer science and refers to making code more efficient. And being a solo GP hasn’t slowed him down; he went on to raise three additional funds and has now closed a fourth fund of $50 million in capital commitments to invest in areas such as biotech, climate, and hard tech startups.
A Track Record of Success
Since its 2016 launch, Refactor has invested in more than 100 companies, of which four have gone on to become unicorns. These include Solugen, which is using synthetic biology to take hydrocarbons out of the chemicals industry, and Astranis, which is making micro satellites.
A New Fund
Last week, Solugen received a $214 million loan from the Department of Energy Loan Programs Office to build their next Solugen Bioforge in Minnesota that will make chemicals from corn sugar rather than petroleum. Awarded to a small number of startups, the DOE awarded a similar loan to Tesla in 2010.
Raising the New Fund
Bilimoria was able to raise the new fund in less than 90 days, he said. Ninety percent of the fund was raised by existing limited partners, including firms like Knollwood Investment Advisory. A majority of the LPs are institutional investors, and the entire list can be found below:
Limited Partners:
- Knollwood Investment Advisory
- Firm X
- Firm Y
- …
A Message from Zal Bilimoria
"I’m thrilled to have raised this new fund," said Bilimoria. "I believe in the potential of these companies to change the world, and I’m excited to continue supporting them on their journey."
Conclusion
Zal Bilimoria’s success as a solo general partner at Refactor Capital is a testament to his dedication and expertise in the field of venture capital. With a unique approach to investing and a track record of success, he continues to be a leader in the industry.
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