Modi Ventures has raised $88 million for its second fund to invest in companies at the intersection of artificial intelligence, biology, and medical technology. The venture capital firm, founded in 2022 and based in Houston’s TMC Helix Park at the Texas Medical Center, launched its first fund during the market downturn of 2022 and raised over $30 million in 2023. The successful close of its second fund within approximately three months brings the total committed capital to over $134 million.
Sahir Ali, Modi Ventures’ solo general partner, said, “Modi Ventures invests strategically at the convergence of technology and biology, employing a sophisticated and proprietary financial engineering framework rooted in modern portfolio theory and the efficient frontier principles.”
The second fund will continue to help build companies at the intersection of AI, biology, and medicine, focusing on pioneering advancements in digital biology and multi-omics, cellular reprogramming, AI-driven drug discovery, next-generation diagnostics, and therapeutics. Initial investments from the second fund include Lila Sciences, RTW Royalty Fund, Ignota Labs, Latus Bio, and Flagship Pioneering.
Modi Ventures secures major funding
William McKeon, President and CEO of Texas Medical Center, commented on the firm’s progress: “We’re proud to have witnessed the growth of Modi Ventures over the past few years at Helix Park, which is a cornerstone of Texas Medical Center’s vision to create a globally recognized hub for translational research and innovation. We look forward to continuing our partnership as we work together to build a world-class life sciences ecosystem right here in Houston.”
Modi Ventures Capital Management now manages $134 million and invests in innovators and companies shaping the future of humanity. The company’s primary focus is on emerging and disruptive AI and biomedical technologies.
Successful fund investments include Khosla Ventures, Section 32, Artis Ventures, Draper Associates, Yosemite, and Abingworth. Current holdings include Groq, Generate Biomedicines, Unnatural Products, Ozlo, and Oklo.