Section 32

Section 32
Private
Industry Venture Capital
Founder Bill Maris[1]
Headquarters San Diego, United States
Key people
 Michael Pellini (Managing Partner)
Services Venture funding
Website section32.com

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

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 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]

References

  1. ↑ Heater, Brian. "Ex-GV CEO Bill Maris said to be launching health care investment fund, Section 32". Retrieved 17 January 2018.
  2. 1 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. 1 2 3 "Ex-Google Ventures CEO Maris Set to Raise $100 Million Fund". 14 March 2017. Retrieved 17 January 2018 – via www.bloomberg.com.
  5. 1 2 3 "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. 1 2 "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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