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Section 32

Venture Capital · Founded 2017 · San Diego, United States

#458 Investor Ranking 2026 Top 3% of investors worldwide

Venture capital fund founded by Bill Maris

92 Portfolio companies+48% in 5 years
28 Unicorns
5 Decacorns
128 Investments
Jun 2026 Last investment
02 · Biggest holdings

Section 32’s biggest current holdings.

Section 32 is a named shareholder in 4 companies. Dealroom estimates those stakes are worth about $796M in total — the disclosed percentage × each company’s latest valuation. The 4 biggest are below, each sized by that estimate.

#CompanyEst. stakeValuationEst. value
  1. 1 SandboxAQSecurity · Unicorn 6% $5.8B $345M
  2. 2 CohereEnterprise Software · Decacorn 1.5% $20.0B $300M
  3. 3 DialpadEnterprise Software · Unicorn 5.5% $2.2B $121M
  4. 4 FreenomeHealth · Unicorn 2% $1.5B $30M

Estimated value = Section 32’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. See the underlying shareholder registers on Dealroom →

03 · Exits

Section 32’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Section 32’s transaction record.

$6.6B IPO · 2019
Entered Series B+Now $215BSecurity
$86B IPO · 2021
Entered Series B+Now $38BFintech
$11B IPO · 2021
Entered Series B+Now $13BRobotics
$4.0B IPO · 2022
Entered Series ANow $4.1BFintech
$3.6B IPO · 2021
Entered Series ANow Health
$1.7B IPO · 2020
Entered Series B+Now $3.5BHealth
$3.4B acquisition · 2019
Entered Series B+Health
$1.6B IPO · 2026
Entered Series B+Now $2.4BTransportation
$2.3B IPO · 2021
Entered Series B+Health
$2.1B acquisition · 2020
Entered Series AHealth
$2.0B IPO · 2021
Entered Series B+Now $2.0BHealth
$1.3B IPO · 2021
Entered Series B+Now $137MFintech
04 · Portfolio analysis

Where Section 32’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 92 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA111
  2. UK3
  3. Canada2
  4. India2
  5. Argentina1
  6. Ireland1
  7. Israel1
  8. Netherlands1
  9. UAE1
By sectorCount
  1. Health77
  2. Enterprise Software19
  3. Fintech10
  4. Security8
  5. Media5
  6. Robotics4
  7. Transportation4
  8. Food3
  9. Marketing2
  10. Semiconductors2
  11. Telecom2
  12. Gaming1
By stage enteredCount
  1. Series B+48
  2. Series A33
  3. Seed11
By growth stageCount
  1. Late Growth69
  2. Breakout Stage44
  3. Early Growth11
05 · Portfolio market map

Inside Section 32’s portfolio.

The 60 highest-funded portfolio companies, of 92 tracked.

Aurora
Robotics · Decacorn
$13B
Cohere
Enterprise Software · Decacorn
$20B
EQRx
Health
SandboxAQ
Security · Unicorn
$5.8B
Lime
Transportation · Unicorn
$2.4B
Slack
Enterprise Software · Decacorn
$23B
Oscar
Health · Unicorn
$5.0B
Freenome
Health · Unicorn
$1.3B
Neuralink
Health · Unicorn
$9.7B
Cue
Health
23andMe
Health
$150M
GeneDx Inc
Health · Unicorn
$2.3B
Auris Health
Health · Unicorn
$3.4B
Gusto
Fintech
$9K
Celularity
Health
$55M
Vir Biotechnology
Health · Unicorn
$1.1B
NewLimit
Health · Unicorn
$3.1B
Sema4
Health · Unicorn
$2.0B
One Medical
Health · Unicorn
$3.7B
Relay Therapeutics
Health · Unicorn
$3.5B
Formation Bio
Health · Unicorn
$1.5B
Coinbase
Fintech · Decacorn
$38B
CrowdStrike
Security · Centicorn
$215B
Kobalt Music
Music
$484M
Dialpad
Telecom · Unicorn
$2.2B
MetroMile
Fintech
$137M
Infleqtion
Semiconductors · Unicorn
$1.8B
Dave.com
Fintech · Unicorn
$4.1B
Thrive Earlier Detection
Health · Unicorn
$2.2B
A2biotherapeutics
Health
$320M
Aspen Neuroscience
Health
$738M
Flatiron Health
Health · Unicorn
$1.9B
Arbor Biotechnologies
Health · Unicorn
$1.1B
Evidation
Health · Unicorn
$1.0B
Primer
Enterprise Software
$550M
Moma Therapeutics
Health
$600M
Brahma AI
Media · Unicorn
$1.4B
Autobahn Therapeutics
Health
$400M
Rome Therapeutics
Health
$385M
Alector
Health
$59M
Endor Labs
Enterprise Software
$372M
Neocis
Health
$360M
Pomelo
Fintech
$220M
Character Biosciences
Health
$550M
Fulcrum Therapeutics
Health
Meatable
Food
$235M
Exai Bio
Health
$286M
Legacy Health
Health
$125M
Verge Genomics
Health
$392M
Beacon Biosignals
Health
$430M
Nested Therapeutics
Health
$360M
Nusano
Health
$460M
Octave Bioscience
Health
$142M
Inceptive
Health
$400M
Inworld AI
Gaming
$500M
Vineti
Health
$175M
Brightside Health
Health
$250M
C2i Genomics
Health
$70M
Forward Networks
Telecom
$200M
Satellite Bio
Health
$440M
06 · Portfolio founders

Where Section 32’s portfolio founders come from.

174 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States139
  2. Argentina5
  3. Israel5
  4. Canada4
  5. Ireland3
  6. Sweden2
  7. United Kingdom2
  8. Australia1
  9. Austria1
  10. Netherlands1
UniversityCount
  1. Harvard University14
  2. Massachusetts Institute of Technology13
  3. Stanford University13
  4. University of California, Berkeley8
  5. University of Cambridge8
  6. Duke University5
  7. Harvard Business School4
  8. Harvard Medical School4
  9. Technion Israel Institute of Technology4
  10. UC Berkeley, Haas Business School4
Previous companyCount
  1. Alphabet | Google16
  2. IBM6
  3. MIT Media Lab5
  4. ClearCarbon4
  5. Deloitte4
  6. Harvard Medical School4
  7. Massachusetts Institute of Technology4
  8. MIT-IBM Watson AI Lab4
  9. PwC4
  10. Alantos Pharmaceuticals3