Firms
Two Bear Capital
Two Bear Capital is a venture capital firm founded in 2019 by Mike Goguen, a former Sequoia Capital investor. It backs early-stage companies combining life sciences and technology, including AI and machine learning, computational biology, drug discovery, diagnostics, quantum security and enterprise infrastructure. The firm pairs investment capital with scientific, technical, operating and company-building support. Its team includes investors, platform and operating specialists, research and finance staff, and an advisory network. It operates from Whitefish, Montana, with offices in Menlo Park, San Diego, Boston and New York. Its publicly listed portfolio includes Montara Therapeutics, Novoron, Abilita Therapeutics, Talus Bio, Revenium, Selector and TileDB. Two Bear co-led Montara's initial seed round in July 2024 and participated in its March 2025 seed expansion.
- Founded
- 2019
- Type
- Venture capital
Funds3
Team
Operations and support
 Amalia ColangeloPrincipal |
 Ashley ArchibequeExecutive Assistant |
 Avery SonnenbergPartner |
 Bria IulianoExecutive Assistant |
 Cris NeckarPartner |
 Ellen LubmanBiopharmaceutical Adviser |
 Erika BoldenOperations Manager |
 J. Seth StrattanGeneral Partner |
 James AllisonAdviser |
 Jeff MillerOperating Partner, Enterprise |
 Jenna AronsonPrincipal |
 Jim CaggianoAdviser |
 Joe PintoAdviser |
 John DelaneySenior Biopharmaceutical Adviser |
 John SullivanVenture Partner |
 Kevin DayPartner, Head of Capital Formation |
 Kristen GetchellPartner, Head of Platform |
 Lavinia PlaterinkAssociate |
 Linda JahnExecutive Assistant |
 Liz MarchiHead of Community Engagement |
 Mark AdamsPartner |
 Meagan HennigPartner, Head of Operations |
 Mike GoguenFounder & Managing Partner |
 Neil WhitePartner |
 Nikki JohnsHead of Strategic Talent |
 Padmanee SharmaAdviser |
 Rachel Tsunemoto HislopHead of Research |
 Tim VeilChief Information Officer |
 Zander MykytiukOperating Associate |
Co-investing
Dementia Discovery Fund
Montara Therapeutics$20M · 2025-03-13- Montara Therapeutics$8M · 2024-07-30
Dolby Family Ventures- Montara Therapeutics$20M · 2025-03-13
- Montara Therapeutics$8M · 2024-07-30
KdT Ventures- Montara Therapeutics$20M · 2025-03-13
- Montara Therapeutics$8M · 2024-07-30
Alumni Ventures
PULSEDATA$16M · 2021
Bain Capital- PULSEDATA$16M · 2021
BEVC- Montara Therapeutics$20M · 2025-03-13
BoxOne Ventures
Talus Bioscience$11M · 2024-08-20
- PULSEDATA$16M · 2021
Harpoon Ventures
Graphiant$62M · 2023-03-30
NFX- Talus Bioscience$11M · 2024-08-20
Troy Wilson- Montara Therapeutics$20M · 2025-03-13
- Talus Bioscience$11M · 2024-08-20
Y Combinator- Talus Bioscience$11M · 2024-08-20
Investments
| $20M2025-03-13 | Montara Therapeutics | Dementia Discovery Fund, Two Bear Capital, Dolby Family Ventures, KdT Ventures, Troy Wilson, BEVC |
| $19M2025 | Graphiant | Sequoia, Wa'ed Ventures, Two Bear Capital, IAG Capital Partners |
| $11M2024-08-20 | Talus Bioscience | Y Combinator, BoxOne Ventures, NFX, WRF Capital, Two Bear Capital |
| $8M2024-07-30 | Montara Therapeutics | Dementia Discovery Fund, Two Bear Capital, Dolby Family Ventures, KdT Ventures |
| $62M2023-03-30 | Graphiant | Sequoia, Atlantic Bridge, Wa'ed Ventures, Harpoon Ventures, Two Bear Capital, IAG Capital Partners |
| $12M2022-12-21 |  Novoron Bioscience | Two Bear Capital |
| $3M2021-11-16 | Novoron Bioscience | Two Bear Capital |
| $16M2021 | PULSEDATA | Bain Capital, Alumni Ventures, Two Bear Capital, Chicago Ventures |
| $33M2020-12-09 | Graphiant | Sequoia, Two Bear Capital, Atlantic Bridge |