Section 32 (company) explained

Section 32
Type:Private
Industry:Venture Capital
Predecessors:-->
Successors:-->
Founder:Bill Maris[1]
Hq Location City:San Diego
Hq Location Country:United States
Areas Served:-->
Key People:Michael Pellini, MD

Steve Kafka, PhD
,
Andy Harrison
Services:Venture funding
Owners:-->

Section 32 is a California-based venture fund founded by Google Ventures founder, Bill Maris. Section 32 funds technology, biotechnology, healthcare and life sciences companies and has approximately $1 billion under management.[2] [3] [4] [5]

History

Section 32 was founded by the by Google Ventures founder, Bill Maris.[4] [5] [6] [7] [8] Bill Maris' background is in technology and neuroscience, and he retired from Google Ventures (later GV) after he declared "mission accomplished."[9] He founded Section 32 to invest in technology, healthcare and the life science companies.[10] [11]

The fund aimed to raise $100 million[4] however, citing a strong interest, the first fund raise was $160 million, and the firm now has approximately $1 billion under management.[5] [2] [12] [10]

In December 2017, Michael Pellini, the former CEO and standing Chairman of Foundation Medicine joined Section 32 as a Managing Partner along with another ex-Google Ventures senior leader, Jenn Kercher, who joined as Chief Operating Officer and General Counsel.[13] [14] Google Ventures former CFO, Jonathan Faerber, and Bill Maris' long term Executive Assistant and Chief of Staff from Google Ventures, Lindsey Archarya, both joined Section 32 in 2018.[15]

In early 2019, Section 32 announced that it had raised nearly $200M for a second fund.[16]

In November 2019, Steve Kafka, joined Section 32 as a Managing Partner. He served as both founding CEO and Executive Chairman of Thrive Earlier Detection, and President and Chief Operating Officer at Foundation Medicine.[17]

In 2020, Section 32 announced it was raising $350M for its third fund.[18] Sarah Larson, formerly at Third Rock Ventures, and Alice Cheung, formerly at Google and X, joined in March 2020 as Chief People Officer and Head of Talent.[19]

In March 2021, Andy Harrison joined Section 32 as a Managing Partner. He previously held executive leadership roles at Alphabet, including Verily Life Sciences (previously Google Life Sciences) and X (previously GoogleX). Sue Hager, formerly an executive at Foundation Medicine and EQRx, joined as Chief Investor Relations and Communications Officer, also in March 2021. Section 32 has notably invested in Kobalt Music Group, Thrive, Vir, Relay, Coinbase, Crowdstrike, Metromile, and Singular Genomics.[20] [21] [22] [23]

External links

Notes and References

  1. Web site: Ex-GV CEO Bill Maris said to be launching health care investment fund, Section 32. Brian. Heater. 5 December 2016 . 17 January 2018.
  2. Web site: Bill Maris has closed his new fund with $150 million, to accommodate 'strong' investor interest. Connie. Loizos. 16 May 2017 . 17 January 2018.
  3. Web site: Pro Rata. Axios. 17 January 2018.
  4. News: Ex-Google Ventures CEO Maris Set to Raise $100 Million Fund. Bloomberg.com. 14 March 2017. 17 January 2018. www.bloomberg.com.
  5. News: Ex-Google Ventures CEO Maris Raises $150 Million Venture Fund. Bloomberg.com. 16 May 2017. 17 January 2018. www.bloomberg.com.
  6. Web site: Google Ventures founder Bill Maris is back. Again.. Axios. 17 January 2018.
  7. Web site: Bill Maris - Founder of Google Ventures. 17 January 2018.
  8. News: Maris's Section 32, Anne Wojcicki Back Freenome's Quest to Detect Cancer Earlier. Heather. Mack. Wall Street Journal. 25 August 2017. 17 January 2018. www.wsj.com.
  9. Web site: Google Ventures founder Bill Maris: 'I'm leaving because everything is great.'. 10 August 2016. 17 January 2018.
  10. Web site: Eric Schmidt and Bill Maris are helping build a startup network in Southern California. 22 June 2017. 17 January 2018.
  11. Web site: Xconomy: Bill Maris Takes Stage for 2nd Act, Says New Fund Mostly Committed. 31 August 2017. 17 January 2018.
  12. Web site: The founder of Google Ventures is launching a new venture fund. Business Insider. 17 January 2018.
  13. Web site: Michael Pellini has just joined Bill Maris at Section 32 — focused on patient care and drug development. endpts.com. 17 January 2018.
  14. News: Ex-Google Ventures Chief Bill Maris Hires Partner for Venture Firm. Heather. Mack. Wall Street Journal. 5 December 2017. 17 January 2018. www.wsj.com.
  15. Web site: Venture Capital Fund Section 32 Adds Another GV Veteran. San Diego Business Journal. May 2018 .
  16. Web site: Xconomy: Bill Maris's VC Firm Section 32 Raises $200M for Second Fund. February 25, 2019. Xconomy.
  17. Web site: Xconomy: Why Steve Kafka Left Third Rock Ventures for Up-and-Comer Section 32. November 5, 2019. Xconomy.
  18. Web site: Section 32 targets $350 million for third fund. Elise. Reuter. April 24, 2020.
  19. Web site: Bill Maris, who started Google's VC arm, brings on Google walkout organizer at his new venture firm. Christina. Farr. May 20, 2020. CNBC.
  20. Web site: The former head of Google Ventures has joined the board of UK music startup Kobalt. Business Insider. 17 January 2018.
  21. Web site: The former head of Google Ventures has joined the board of UK music startup Kobalt. 17 January 2018.
  22. Web site: Sequencing Startup Singular Genomics Files for $100M IPO. 12 May 2021.
  23. Web site: Coinbase raises $100M Series D led by IVP. Brian. Armstrong. January 4, 2019. Medium.

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