Key Takeaways
- • Floating Point, an early-stage venture capital firm investing in complex sectors, closed its second fund at $70 million, per a Business Wire announcement dated April 10, 2024.
- • The firm now manages more than $150 million in assets for institutional, private equity, and family office investors, including 53 Stations, the venture arm of The Pritzker Organization.
- • Founded in 2021 by Eddie Segel and John Loser, former Bridgewater hedge fund investors who later served on the founding team of Oscar Health (NYSE:OSCR).
- • The firm targets healthcare, supply chains, climate, defense, and manufacturing, sectors it argues are poorly served by mainstream venture strategies.
- • Portfolio companies include Altana, Commons Clinic, Sun Day, Floodbase, and Wheeler Bio, with Altana having raised over $160 million from investors including Google Ventures and Activate Capital.
Summary
Floating Point, an early-stage venture capital firm focused on complex sectors, has closed its second fund at $70 million, according to a Business Wire announcement. The firm says it now manages more than $150 million in assets on behalf of a range of institutional, private equity, and family office investors, including 53 Stations, the venture arm of The Pritzker Organization.
The firm was founded in 2021 by Eddie Segel and John Loser, who previously spent fifteen years working together, first as hedge fund investors at Bridgewater and then on the founding team of Oscar Health, where they led product, data, and risk management. Segel, co-founder and general partner, said that the most needed areas for innovation, including healthcare, supply chains, climate, defense, and manufacturing, do not fit today's dominant venture strategies. Loser said the firm looks for founders bringing cutting-edge technology and industry credibility to large markets that outsiders may not recognize.
Floating Point describes its approach as differentiated underwriting aimed at building a concentrated portfolio of founders bringing technology to legacy industries. Its portfolio includes Altana, which applies AI to global trade; Sun Day, a technology-driven car wash rollup; Wheeler Bio, rapid biomanufacturing for therapeutics; Floodbase, flood tracking for climate insurance; TimberEye, timber supply chains; Dandelion, hospital data for clinical AI; Cofactr, semiconductor supply chains; Mevo, Brazil's e-prescription infrastructure; and Commons Clinic, an orthopedic surgery platform.
The firm's venture partners include Evan Moore, co-founder of DoorDash; Serkan Piantino, co-founder of Facebook AI Research and VP Product at Reddit; Vin Mitta, M.D., Medical Officer at CMS; Jesse Horowitz, CPO at Oscar Health; and Bruce Gottlieb, COO of Flatiron Health. Evan Smith, CEO and co-founder of Altana, praised Floating Point as a trusted partner since before its investment, and noted that Altana has raised over $160 million from investors including Google Ventures and Activate Capital.
The firm was founded in 2021 by Eddie Segel and John Loser, who previously spent fifteen years working together, first as hedge fund investors at Bridgewater and then on the founding team of Oscar Health, where they led product, data, and risk management. Segel, co-founder and general partner, said that the most needed areas for innovation, including healthcare, supply chains, climate, defense, and manufacturing, do not fit today's dominant venture strategies. Loser said the firm looks for founders bringing cutting-edge technology and industry credibility to large markets that outsiders may not recognize.
Floating Point describes its approach as differentiated underwriting aimed at building a concentrated portfolio of founders bringing technology to legacy industries. Its portfolio includes Altana, which applies AI to global trade; Sun Day, a technology-driven car wash rollup; Wheeler Bio, rapid biomanufacturing for therapeutics; Floodbase, flood tracking for climate insurance; TimberEye, timber supply chains; Dandelion, hospital data for clinical AI; Cofactr, semiconductor supply chains; Mevo, Brazil's e-prescription infrastructure; and Commons Clinic, an orthopedic surgery platform.
The firm's venture partners include Evan Moore, co-founder of DoorDash; Serkan Piantino, co-founder of Facebook AI Research and VP Product at Reddit; Vin Mitta, M.D., Medical Officer at CMS; Jesse Horowitz, CPO at Oscar Health; and Bruce Gottlieb, COO of Flatiron Health. Evan Smith, CEO and co-founder of Altana, praised Floating Point as a trusted partner since before its investment, and noted that Altana has raised over $160 million from investors including Google Ventures and Activate Capital.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.