US venture firm founded in 2024 by Ethan Kurzweil, Mark Goldberg and Kristina Shen. Current official portfolio states first check through Series B; historical October 2024 launch focused Seed/Series A software. Fund I announced USD 350m deployable capital; Fund II regulatory USD 500m offering target is not a verified close.
Founded —
Type Venture capital 2 Chemistry Ventures Fund II 2026-06-25 2026-06-25 — SEC Form D filed 2026-06-25: USD 500m offering target, USD 0 sold, first sale yet to occur. Final close unverified; reopening filing in import returned inaccessible. No amount set as closed capital.
Chemistry Fund I 2024-10-22 2024-10-22 $350M Official launch announces deployable capital, not fundraising target or AUM.
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$20M $500K – $40M San Francisco, California $15M $100K – $50M San Francisco Bay Area $10M $3M – $25M San Francisco, California — — – — — — – — — — – — — — – — — — – — — — – —
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$40M 2026-09-01 Wafer Marathon Venture Capital , Chemistry , Fifty Years , Y Combinator $35M 2026-04-07 Yuzu Health General Catalyst , LGF , Chemistry , Neo , Timeless Ventures $35M 2026-04-06 Yuzu General Catalyst , Chemistry , Lachy Groom , Neo , Timeless Ventures , Anthology Fund , Bain Future Back Ventures , Menlo Ventures $30M 2026-02-12 Didero Chemistry , Kristina Shen $— 2026-01-29 Decagon Bain Capital , Definition Capital , Chemistry , Coatue Management LLC , Forerunner Ventures , Notion Capital , Accel $— 2026 Didero Chemistry $— 2026 Comfy Chemistry $35M 2026 Yuzu Health General Catalyst , Chemistry , Station F , Neo , Timeless Ventures $76M 2025-09-30 Assort Health Lightspeed , Felicis , First Round Capital , Chemistry , Quiet Capital , Liquid 2 Ventures , A* , First Round $200M 2025-04-30 Persona Founders Fund , Chemistry , Coatue Management LLC , First Round Capital , Ribbit Capital , Index Ventures $200M 2025-04-30 Persona Founders Fund , Matias Van Thienen , First Round Capital , Index Ventures , Chemistry , Coatue Management LLC , Ribbit Capital , First Round $200M 2025 Persona Founders Fund , Chemistry , Coatue Management LLC , First Round Capital , Ribbit Capital , Index Ventures $200M 2025 Persona Founders Fund , Matias Van Thienen , First Round Capital , Index Ventures , Chemistry , Coatue Management LLC , Ribbit Capital , First Round $— Unknown date Nova Intelligence Chemistry $— Unknown date Nova Intelligence Chemistry $— Unknown date Noon Chemistry $— Unknown date ComfyUI Chemistry $15M Unknown date Meticulous Y Combinator , Chemistry , Menlo Ventures , Stripe , Adobe , Cursor Capital $1.7B 2026-07-22 Atoms Ben Horowitz , Chemistry $47M 2026-04-27 Fathom Therapeutics Ethan Kurzweil , Chemistry $17M 2025-09-16 Comfy Org Chemistry
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team@apexlogos.ai · 3 hours ago
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities.
Fund and stages
Official launch https://www.chemistry.vc/post/introducing-chemistry (2024-10-22; accessed 2026-10-06) announces Chemistry Fund 1 with USD 350 million available and a Seed/Series A software mandate. It presents capital ready to deploy, not a fundraising target.
The current [official portfolio](https://www.chemistry.vc/portfolio ) (undated; accessed 2026-10-06) expands the stated range to first check through Series B. Thus Seed–Series A remains the historical launch mandate; the current public mandate includes Series B. Growth transactions do not by themselves establish an unrestricted growth strategy.
| Vehicle | Amount and status | Dated evidence |
| --- | --- | --- |
| Chemistry Fund 1 / Fund I, 2024 | USD 350M announced deployable capital; latest confirmed flagship announcement checked, not AUM | [Official launch](https://www.chemistry.vc/post/introducing-chemistry ), 2024-10-22 |
| Chemistry Ventures Fund II, L.P., 2026 | USD 500M offering target; June filing reports USD 0 sold and first sale yet to occur. Final close unverified | [SEC Form D](https://www.sec.gov/Archives/edgar/data/2136807/000123191926000700/xslFormDX01/primary_doc.xml ), filed 2026-06-25 |
[TechCrunch](https://techcrunch.com/2026/07/07/chemistry-ventures-is-raising-500m-for-its-second-fund/ ) (2026-07-07) reported a $500M second-fund raise, not a final close. Searches for newer close announcements did not verify one. Do not add Fund I and the Fund II target as confirmed AUM. [VCSpine](https://www.vcspine.com/firms/chemistry ) (undated; accessed 2026-10-06) labels June 2026 a close while also showing $500M “offered”; this conflicts with the directly read filing's zero sold. Its $355M Fund I figure differs from the official $350M headline and requires underlying filing review. Secondary [Getlev](https://getlev.co/venturegraph/firm/chemistry-ventures ) (undated; accessed 2026-10-06) separately lists a $10M Fund II-A vehicle; relationship to the main fund and potential double counting remain unverified.
Source access and completeness
All linked sources were accessed 2026-10-06. Publication dates are supplied at the claim/table row when available; Signal, homepage/portfolio, company landing pages and secondary filing aggregators are undated. Official investment announcements and the SEC filing were directly read; NFX was directly readable for public team/stage data but gated for introductions. Search-index secondary fund-vehicle figures are caveated and were not substituted for SEC amounts. This completed note provides verified examples and review gaps, not a full audit of every snapshot participation.
Funds recorded in Adex after this review:
| Fund | Disclosed amount | Announcement / filing date |
| --- | --- | --- |
| Chemistry Fund I | USD 350000000 | 2024-10-22 |
| Chemistry Ventures Fund II | Undisclosed / unverified | 2026-06-25 | SHOW MORE
team@apexlogos.ai · 4 hours ago
Match research 2026-10-06 / Chemistry / sha256:c263ddb78400fc7c16b821ee3c547b5e86cd50323e2042fa5c385f92ed1dc367 / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
- Roles for Jon Wang, Serena Ge, Yoland Yan, Jeff Lawson and Zach Perret resemble portfolio founder testimonial attributions on the official homepage, not employment evidence. Brad Lightcap appears in the firm's event series as OpenAI COO. Review those firm-role records; do not carry testimonial speakers into the investment team by inference. [Official homepage](https://www.chemistry.vc/ ), undated, accessed 2026-10-06.
- Signal's listed personal ranges are inconsistent with treating the snapshot's null firm check values as solved. Keep checks unknown absent a verified firm policy. The firm-branded LinkedIn description says commitments up to $30M; commitments are not necessarily initial checks. [Chemistry LinkedIn](https://www.linkedin.com/company/chemistryvc ), undated, accessed 2026-10-06.
- Unknowns: final Fund II close and size, relationship of parallel vehicles, firm-wide AUM, reserve policy, precise check amounts, and neurotech-specific thesis/track record. No database or Adex changes made.
## Source access and completeness
All linked sources were accessed 2026-10-06. Publication dates are supplied at the claim/table row when available; Signal, homepage/portfolio, company landing pages and secondary filing aggregators are undated. Official investment announcements and the SEC filing were directly read; NFX was directly readable for public team/stage data but gated for introductions. Search-index secondary fund-vehicle figures are caveated and were not substituted for SEC amounts. This completed note provides verified examples and review gaps, not a full audit of every snapshot participation. SHOW MORE
team@apexlogos.ai · 4 hours ago
Match research 2026-10-06 / Chemistry / sha256:c263ddb78400fc7c16b821ee3c547b5e86cd50323e2042fa5c385f92ed1dc367 / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# Chemistry
- Exact Adex ID: `Chemistry`; canonical record: https://adex.page/firms/Chemistry .
- Research date: 2026-10-06. Status: complete research for later Adex review.
- Identity: US early-stage venture firm founded by Ethan Kurzweil, Mark Goldberg and Kristina Shen in 2024; distinct from chemical-sector investment firms.
## Starting evidence
Saved snapshot `data/research/_sources/Chemistry.adex.json`, retrieved 2026-10-06, describes a $350M Seed–Series A software investor. It includes duplicate-looking Persona, Didero, Yuzu/Yuzu Health and Comfy/Comfy Org/ComfyUI participations. These are research leads, not independent confirmation. Check sizes are null. Some role records appear to mistake portfolio founder testimonials and event speakers for investor employment.
NFX Signal was directly read at https://signal.nfx.com/firms/chemistry-vc on 2026-10-06. It identifies San Francisco and lists Mark Goldberg and Ethan Kurzweil; Goldberg's profile range is $100K–$50M, sweet spot $15M; Kurzweil's $3M–$25M, sweet spot $10M. These are personal directory figures, not verified firm checks or fund sizes. Stage tags include Seed, Series A and Series B and can reflect prior careers. Intro-path features require login.
## Fund and stages
Official launch https://www.chemistry.vc/post/introducing-chemistry (2024-10-22; accessed 2026-10-06) announces Chemistry Fund 1 with USD 350 million available and a Seed/Series A software mandate. It presents capital ready to deploy, not a fundraising target.
The current [official portfolio](https://www.chemistry.vc/portfolio ) (undated; accessed 2026-10-06) expands the stated range to first check through Series B. Thus Seed–Series A remains the historical launch mandate; the current public mandate includes Series B. Growth transactions do not by themselves establish an unrestricted growth strategy.
| Vehicle | Amount and status | Dated evidence |
| --- | --- | --- |
| Chemistry Fund 1 / Fund I, 2024 | USD 350M announced deployable capital; latest confirmed flagship announcement checked, not AUM | [Official launch](https://www.chemistry.vc/post/introducing-chemistry ), 2024-10-22 |
| Chemistry Ventures Fund II, L.P., 2026 | USD 500M offering target; June filing reports USD 0 sold and first sale yet to occur. Final close unverified | [SEC Form D](https://www.sec.gov/Archives/edgar/data/2136807/000123191926000700/xslFormDX01/primary_doc.xml ), filed 2026-06-25 |
[TechCrunch](https://techcrunch.com/2026/07/07/chemistry-ventures-is-raising-500m-for-its-second-fund/ ) (2026-07-07) reported a $500M second-fund raise, not a final close. Searches for newer close announcements did not verify one. Do not add Fund I and the Fund II target as confirmed AUM. [VCSpine](https://www.vcspine.com/firms/chemistry ) (undated; accessed 2026-10-06) labels June 2026 a close while also showing $500M “offered”; this conflicts with the directly read filing's zero sold. Its $355M Fund I figure differs from the official $350M headline and requires underlying filing review. Secondary [Getlev](https://getlev.co/venturegraph/firm/chemistry-ventures ) (undated; accessed 2026-10-06) separately lists a $10M Fund II-A vehicle; relationship to the main fund and potential double counting remain unverified.
## Previous deep-tech investments
All amounts below are entire company rounds or announced financing, not Chemistry's check. Direct attribution is firm-level unless noted. “Deep tech” is an analytical technology classification, not a claimed exclusive mandate.
| Company | Technology rationale and Chemistry attribution | Financing, date and sources |
| --- | --- | --- |
| Atoms | Strong physical deep-tech fit: specialized robots, autonomous vehicles/mining trucks, shared mobility platform, sensors and autonomy. Chemistry explicitly says it invested its largest check, without disclosing its size. | Participated in USD 1.7B round led by a16z, 2026-07-22. [Official Chemistry announcement](https://www.chemistry.vc/post/the-robots-are-reporting-for-work ), 2026-07-22; [company website](https://atoms.co/ ), undated, accessed 2026-10-06. No formal Series label verified. |
| Wafer | Advanced AI compute infrastructure: continuous tuning across model serving engine, kernels and hardware. Technically substantive systems engineering; not a semiconductor fabricator despite its name. Chemistry and Marathon co-led. | USD 40M Series A, 2026-09-01. [Company funding announcement](https://www.wafer.ai/blog/series-a ), 2026-09-01; [Chemistry confirmation](https://www.chemistry.vc/post/our-series-a-in-wafer ), 2026-09-01. |
| Fathom Therapeutics, formerly Atommap | Strong science-based fit: quantum chemistry, AI and atomic-resolution simulation of protein motion for small-molecule drug design; lab-in-the-loop discovery. Chemistry named as participant, with Ethan Kurzweil quoted in his Chemistry role. | USD 47M Series A led by Sutter Hill Ventures, 2026-04-27. [Company-issued press release](https://www.prnewswire.com/news-releases/fathom-therapeutics-formerly-atommap-raises-47-million-in-oversubscribed-series-a-financing-to-translate-physics-and-ai-enabled-small-molecule-design-into-next-generation-medicines-302754272.html ), 2026-04-27; [company website](https://www.fathomtx.com/ ), undated, accessed 2026-10-06, currently minimal. |
| Comfy / Comfy Org / ComfyUI | Open-source node-based infrastructure for generative image/video/audio/3D workflows. Advanced AI tooling, but weaker science/hardware deep-tech fit than Atoms/Fathom; not evidence of original foundation-model research. Firm attribution independently confirmed by company and Chemistry. | Company announced USD 17M funding, 2025-09-16, naming Chemistry, Pace and Abstract; no stage label given in that source. [Company announcement](https://blog.comfy.org/p/comfy-raises-17m-funding ), 2025-09-16; [Chemistry announcement](https://www.chemistry.vc/post/why-we-invested-in-comfy ), 2025-09-16. |
Ordinary workflow investments in the baseline, such as Yuzu insurance administration, Assort patient communications, Nova SAP productivity and Didero procurement, do not automatically qualify as deep tech because they use AI or serve healthcare/manufacturing. This research does not classify them as direct neurotech.
## Previous neurotech investments
**No verified neurotech investment found in the sources checked.** Checks included the saved snapshot, directly read Signal firm page, current official portfolio and blog, Fathom's company-issued scientific/funding description, and searches combining Chemistry/Chemistry VC with neurotech, neuroscience, brain and brain-computer. None established a Chemistry investment in neural recording/stimulation, BCI, neural implants or brain measurement. General AI neural networks are not neurotechnology. Fathom is computational drug discovery; its reviewed release does not establish a nervous-system indication or direct neurotechnology product. Assort and Yuzu are healthcare operations/insurance, not brain technology. This is a scoped evidence gap, not a claim that no such investments exist.
## Conflicts, attribution caveats and later review notes
- Preserve the exact ID `Chemistry`. The word chemistry produces irrelevant chemical-industry and other venture-firm search hits; these were excluded.
- Update review candidates include the current first-check-through-Series-B strategy, Fund II as a target with status needing recheck, and directly verified Atoms, Wafer and Fathom investments missing from this snapshot. Keep scientific fit explicit rather than describing all software as deep tech.
- Review duplicate-looking Persona, Didero, Yuzu/Yuzu Health and Comfy/Comfy Org/ComfyUI company/round entries before any consolidation. In particular, the verified Comfy USD 17M announcement is dated 2025-09-16; the snapshot's undated Comfy Org `amount` should not be treated as Chemistry's USD 17M check. The snapshot also leads to a different reported 2026 Comfy round; do not merge rounds merely because company aliases overlap. This research verified the 2025 financing, not all subsequent participations.
- The official portfolio marks Persona and Decagon as pre-Chemistry investments. This does not disprove separately reported later Chemistry participation, but prior partner involvement is insufficient to verify those later rounds. Snapshot Persona Series D and Decagon 2026 claims need direct financing-source review before acceptance. SHOW MORE
team@apexlogos.ai · 22 days ago
MATCH 
Assort Health$76M · 2025-09-30
Persona$200M · 2025-04-30
Persona$200M · 2025-04-30
First Round
General Catalyst
Yuzu Health$35M · 2026-04-07
Yuzu$35M · 2026-04-06
Yuzu Health$35M · 2026
Menlo Ventures
Meticulous$15M · Unknown date
Y CombinatorWafer$40M · 2026-09-01
A*
Bain Capital
Decagon$— · 2026-01-29
Ben Horowitz
Felicis
Fifty Years
Forerunner Ventures
Didero$30M · 2026-02-12
Lightspeed
Notion Capital
Quiet Capital
Stripe
