Zal Bilimoria: The Solo General Partner of Refactor Capital

Sydney Times

— 2 min read
Zal Bilimoria: The Solo General Partner of Refactor Capital

Introduction

Zal Bilimoria has been a solo general partner at Refactor Capital since 2018, a decision he credits to his former colleague David Lee. Lee co-founded Refactor Capital with Bilimoria in 2016, where they initially raised a $50 million fund together. After Lee's retirement in 2018, he encouraged Bilimoria to continue as a solo GP at Refactor.

Journey to Solo General Partner

  • Before joining Refactor, Bilimoria was a partner at Andreessen Horowitz, where he helped launch the firm's $200 million Bio Fund.
  • With a background in building tech products at companies like Google, Netflix, LinkedIn, and Microsoft, Bilimoria also founded the consumer mobile startup Sniply.
  • At Refactor, he focuses on investing in companies addressing major societal challenges, reflected in the term "refactor," which comes from computer science and signifies making code more efficient.

Transition to Solo GP

  • Despite initial apprehension, Bilimoria embraced the role of a solo GP at Refactor based on Lee's advice.
  • Being a solo GP grants full authority over investment decisions and fundraising, but also entails full responsibility without partner input.
  • Bilimoria values the independence and authority of being a solo GP, as well as the direct interaction with founders.

Achievements at Refactor

  • Since its inception in 2016, Refactor has invested in over 100 companies, with four achieving unicorn status, including Solugen and Astranis.
  • Solugen, a startup utilizing synthetic biology for sustainable chemicals production, received a $214 million loan from the Department of Energy's Loan Programs Office.
  • Bilimoria successfully raised multiple funds at Refactor, with the latest $50 million fund attracted primarily institutional investors.

Future Investments

  • The new fund at Refactor will continue leading pre-seed and seed investments in areas such as novel battery technologies, cancer therapies, IVF advancements, and chemicals.
  • Check sizes typically range from $1 million to $2 million, supporting 20 to 25 companies over the next three years.
  • Bilimoria is already committed to allocating capital from the fourth fund, building on the success of previous investments.

In conclusion, Zal Bilimoria's journey as a solo general partner at Refactor Capital showcases his dedication to supporting innovative startups addressing critical global challenges. His strategic approach to investments and commitment to making a positive impact on society underscore the success of Refactor as a leading venture capital firm.

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