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Office Locations:
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Thiel Foundation
One Letterman Drive, Bldg. C, Suite 400
San Francisco, CA 94129
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Life Sciences & Healthcare
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Breakout Labs is the Thiel Foundation's newest program that looks to invest in early stage science and technology companies. Projects should fall within the categories of revolutionary platforms (molecular design, instrumentation, assays, or therapeutic interventions), proof of concept for next-stage funding, or research on topics outside the scope of federal funding. Funding agreements are made on a rolling basis and typically range from $50,000 to $350,000 in the form of grants. Breakout Labs does not fund clinical trials or programs that target specific diseases or conditions as an end goal. Through the Breakout Labs grant agreement, funded companies retain IP that arises from the project while committing a capped royalty stream and a small percentage of equity in their company to the firm. The portfolio of 50 deep science companies has raised over $1B in follow-on funding.
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Investment Firm Key
VC = Venture Capital
PE = Private Equity
A = Angel
I = Incubator
MB = Merchant Bank
VD = Venture Debt
FI = Family Investment Office
FOF = Fund of Funds
ED = Economic Development Office
TT = Technology Transfer Office
CVC = Corporate Venture Capital
SEC = Secondary Purchaser
HF = Hedge Fund/Mutual Fund
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| COMPANY STAGE | REVENUE |
| Venture Capital | |
Seed Stage
(includes "pre-seed," or
concept stage) | No Revenue |
| Early Stage | Minimal
Revenue |
Growth Stage
(also called Mid-stage) | $2M-$7M |
Expansion Stage
(also called Late-stage) | $7M and greater |
| Private Equity | |
| Lower Middle Market | $10M-$249M |
| Middle Market | $250M-$499M |
| Upper Middle Market | $500M-$1B |
| Large Cap | >$1B |
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