While many venture capital firms are still trying to convince investors that their business model isn't just a fancy way to lose money, Dimension Capital has been quietly doing the opposite. On Tuesday, the New York-based firm - which invests at the intersection of science and compute - announced an $800 million fund, a 60% increase over its $500 million second fund announced just 18 months ago.

When Zavian Dar and Adam Goulburn (formerly partners at Lux Capital) teamed up with Obvious Ventures alum Nan Li to launch the firm four years ago, they bet that founders would increasingly want to build deep-tech companies that straddle biotech and software. The three partners now admit they're impressed by how quickly that bet paid off.

In 2024, they co-led a $30 million seed investment in Chai Discovery, a startup developing open-source AI foundation models for drug development. Last week, Chai announced it raised $400 million at a $3.8 billion valuation - which is the kind of return that makes other VCs weep into their kombucha. The firm also backed anti-aging startup New Limit at its Series A in January 2025; earlier this month, New Limit - co-founded by Coinbase CEO Brian Armstrong - completed a Series C at a $3.1 billion valuation.

Other notable bets include inference company Modal Labs and Anthropic. Dimension received shares in the AI giant after Anthropic acquired its portfolio company, drug discovery platform Coefficient Bio, this spring for a reported $400 million. So yes, mixing science and compute is booming - who knew that combining lab coats with algorithms could be so profitable?