Section 32 (company)

Section 32 is a California-based venture fund founded by Google Ventures founder, Bill Maris. Section 32 funds technology, bio-technology, health care and the life sciences startups and has approximately $400 million under management.[2][3][4][5]

Section 32
Private
IndustryVenture Capital
FounderBill Maris[1]
Headquarters
San Diego
,
United States
Key people
Michael Pellini, MD
(Managing Partner)
Steve Kafka, PhD
(Managing Partner)
ServicesVenture funding
Websitesection32.com

History

Section 32's name is derived from Star Trek’s Section 31, a clandestine and autonomous intelligence and security organization authorized by Starfleet. Section 32 is based in San Diego.[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 $400 million 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]

Section 32 has notably invested $14 million (£10.5 million) in funds in Kobalt Music Group raising its growth capital to $89 million (£67.3 million). As a result, Bill Maris joined the board of Kobalt.[16][17]

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gollark: Rust.
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gollark: servant-generic:```This package has been merged into servant 0.14.1, please use that instead if available.```

References
  1. Heater, Brian. "Ex-GV CEO Bill Maris said to be launching health care investment fund, Section 32". Retrieved 17 January 2018.
  2. Loizos, Connie. "Bill Maris has closed his new fund with $150 million, to accommodate 'strong' investor interest". Retrieved 17 January 2018.
  3. "Pro Rata". Axios. Retrieved 17 January 2018.
  4. "Ex-Google Ventures CEO Maris Set to Raise $100 Million Fund". 14 March 2017. Retrieved 17 January 2018 – via www.bloomberg.com.
  5. "Ex-Google Ventures CEO Maris Raises $150 Million Venture Fund". 16 May 2017. Retrieved 17 January 2018 – via www.bloomberg.com.
  6. "Google Ventures founder Bill Maris is back. Again". Axios. Retrieved 17 January 2018.
  7. "Bill Maris - Founder of Google Ventures". Retrieved 17 January 2018.
  8. Mack, Heather (25 August 2017). "Maris's Section 32, Anne Wojcicki Back Freenome's Quest to Detect Cancer Earlier". Retrieved 17 January 2018 – via www.wsj.com.
  9. "Google Ventures founder Bill Maris: 'I'm leaving because everything is great.'". Retrieved 17 January 2018.
  10. "Eric Schmidt and Bill Maris are helping build a startup network in Southern California". Retrieved 17 January 2018.
  11. "Xconomy: Bill Maris Takes Stage for 2nd Act, Says New Fund Mostly Committed". 31 August 2017. Retrieved 17 January 2018.
  12. "The founder of Google Ventures is launching a new venture fund". Retrieved 17 January 2018.
  13. "Michael Pellini has just joined Bill Maris at Section 32 — focused on patient care and drug development". endpts.com. Retrieved 17 January 2018.
  14. Mack, Heather (5 December 2017). "Ex-Google Ventures Chief Bill Maris Hires Partner for Venture Firm". Retrieved 17 January 2018 – via www.wsj.com.
  15. https://www.sdbj.com/news/2018/may/01/venture-capital-fund-section-32-adds-another-gv-ve/
  16. "The former head of Google Ventures has joined the board of UK music startup Kobalt". Retrieved 17 January 2018.
  17. "The former head of Google Ventures has joined the board of UK music startup Kobalt". Retrieved 17 January 2018.
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