Freeflow Ventures Thrives Amid Venture Capital Downturn, Raising $90 Million Since Founding

While many venture capital firms struggle in the current market, Pasadena-based Freeflow Ventures has leveraged its ties to Caltech and focuses on deep tech to achieve significant growth, raising three funds totaling $90 million since its founding in 2018.

The early-stage venture firm raised $50 million in its latest funding round, bringing its total assets under management to $90 million at a time when many in the venture capital industry faced multiple challenges.

Freeflow’s success can be attributed to its strong connection to the entrepreneurial communities at Caltech and the Jet Propulsion Laboratory (JPL), where it has tapped into core science breakthroughs and deep tech innovations. The firm’s investment strategy centers on solutions addressing human and planetary health challenges.

Since its inception, Freeflow Ventures has expanded its reach beyond Caltech, recently investing in Berkeley-based Catena Biosciences, a biotechnology company specializing in protein conjugation and medical research. The move signals the firm’s growing influence in the broader tech ecosystem.

The company’s rapid growth is evident in its fundraising history. Freeflow has raised three funds to date: Fund One at $25 million, Fund Two at $35 million, and an Opportunity Fund closed in early 2024 at $15 million.

In addition to these funds, Freeflow has offered $15 million in SPVs (Special Purpose Vehicles) for standout companies in its portfolio. This diverse funding approach has allowed the firm to support a wide range of innovative startups.

Freeflow Ventures’ leadership team brings a wealth of experience to the table. David Fleck, founder and managing partner, has a background in finance, deal-making, and technology, having worked as a CPA at PwC, a Consultant at Bain & Company, and at Google and various startups.

Partner Kevin Barrett contributes nearly three decades of experience in healthcare services, medical devices, and life sciences, including roles with Bain Capital Ventures, SV Life Sciences, PolyMedica Corporation, BG Medicine, and Synergy Informatics.

Steve Roy, operating partner, brings expertise in startup marketing and brand consulting, with experience at companies such as A123 Systems, Disqus, VendOp, Aloft AI, Philips, Johnson & Johnson, The National Cancer Institute, and GE.

The firm’s investment model is tailored to the needs of high-potential, science-driven companies, often serving as their first venture investors. Freeflow has invested in over 30 companies, building a portfolio that leverages proprietary intellectual property, AI, and machine learning.

Freeflow reports that its portfolio companies have attracted more than 100 co-investors from venture and corporate capital, further validating its investment strategy and the potential of its chosen startups.

For more information, visit https://freeflow.io/.