Active: new fund Jan 2025 Verified 4 Nov 2026
Two Bear Capital
Whitefish, MT firm investing in founders working where life sciences and technology intersect.
- Type
- VC firm
- Location
- Whitefish, Montana, United States
- Stages
- Seed
- Backs
- Biotech and pharma, B2B software
- Sectors
- Biotech, Healthtech and life sciences, AI, Deep tech, Cybersecurity
- Fund size / AUM
- $122.8M Two Bear Capital Fund II (Form D amount sold, 2025)
- Latest fund or filing
- 27 May 2026
- Portfolio mix
- Biotech and pharma 39%; B2B software 39%; Medtech and digital health 11%; Hardware 6%; Deep tech 6% (n=18)
- Website
- twobearcapital.com
Fund filings (SEC Form D)
- Latest fund on file
- TWO BEAR CAPITAL FUND II
- Filed
- 27 May 2026 (amendment)
- Fund size
- $123M (amount sold)
- Fund vehicles filed in the last 12 months
- 1 (includes feeder and parallel vehicles)
See this fund's filings on SEC EDGAR
Contacts on file
For Two Bear Capital, the paid file holds: 8 named decision-makers with roles; how to pitch (the route the firm publishes); LinkedIn page.
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Notable investments
Abilita Therapeutics
Sources
- www.sec.gov/Archives/edgar/data/2001029/000147083126000490/
- www.twobearcapital.com/
- www.twobearcapital.com/portfolio/
- www.twobearcapital.com/contact/
- www.twobearcapital.com/team/
- www.twobearcapital.com/focus/
Last checked 4 Nov 2026. Is something wrong? Tell us.
Appears in 28 lists
Seed cybersecurity investors in the US (134)Seed biotech investors in the US (159)Seed cybersecurity investors (205)Seed deep tech investors in the US (205)Cybersecurity venture capital firms in the US (214)Biotech venture capital firms in the US (297)Seed biotech investors (300)Cybersecurity investors (316)Deep tech venture capital firms in the US (322)Seed healthtech investors in the US (437)Biotech investors (484)Seed deep tech investors (555)Seed SaaS investors in the US (666)Healthtech venture capital firms in the US (709)Seed AI investors in the US (724)Deep tech investors (763)Seed healthtech investors (800)Seed SaaS investors (1,010)Seed investors in the US (1,043)SaaS venture capital firms in the US (1,049)Seed AI investors (1,082)AI venture capital firms in the US (1,112)Healthtech investors (1,207)SaaS investors (1,529)Active venture capital firms in the US (1,574)AI investors (1,576)Seed investors (1,892)Venture capital firms in the US (2,975)