Dimension Capital, a New York venture firm founded in late 2022 that invests at the crossroads of biotech and computing, has closed an $800 million third fund, 60% larger than its $500 million second fund raised just 18 months earlier. The rapid growth stands out at a time when many newer VC firms are struggling to raise capital, and reflects surging investor appetite for start-ups combining life sciences with artificial intelligence and computing power.

Founders Zavian Dar and Adam Goulburn, previously partners at Lux Capital, teamed up with Nan Li of Obvious Ventures to launch Dimension on the premise that founders would increasingly build deep-tech firms straddling biotech and software. That bet has paid off through investments including a $30 million seed round in Chai Discovery, which last week raised $400 million at a $3.8 billion valuation, and a Series A stake in anti-ageing start-up New Limit, co-founded by Coinbase CEO Brian Armstrong, which recently completed a Series C at a $3.1 billion valuation. The firm also holds stakes in inference company Modal Labs and, indirectly, in Anthropic, after Anthropic acquired Dimension's portfolio company Coefficient Bio this spring for a reported $400 million.