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Investor profile

Section 32

Venture capital firm · Founded 2017 · Active in 2026

Section 32 is a venture capital firm based in USA, founded in 2017. The page below shows 34 Power Law outcomes from Section 32's portfolio — 31 unicorns ($1B+ valuation) and 0 additional thoroughbreds (companies that crossed $100M+ in revenue without yet reaching $1B+ valuation).

Outcomes are concentrated in Biotech & Life Sciences · Health Tech & Medtech · Fintech; top portfolio geographies are USA · UAE · Canada. Section 32 ranks #458 in Global in the 2026 Dealroom Power Law Investor Ranking by cross-stage outcomes.

34 Power Law outcomes Power Law Ranking #458 · Global · 34 Power Law outcomes · Active 2026
Unicorns ↑ 19% 5y
31
Decacorns → 0% 5y
4
Thoroughbreds ↑ 45% 5y
18
01 · Exits

Section 32’s biggest exits.

Section 32 portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.

$6.6B IPO · 2019
Entered Series B+Now $164B
$73.6B IPO · 2021
Entered Series B+Now $46.0B
$15.7B IPO · 2019
Entered Series B+Now $23.4B
$11.0B IPO · 2021
Entered Series B+Now $12.7B
$1.7B IPO · 2020
Entered Series B+Now $3.7B
$3.5B IPO · 2021
Now $150M
$3.4B acquisition · 2019
Entered Series B+
$45M IPO · 2022
Entered Series ANow $3.0B
$1.7B IPO · 2021
Entered Series B+Now $2.5B
$1.7B IPO · 2020
Entered Series B+Now $2.3B
$2.2B IPO · 2019
Entered Series B+Now $1.2B
$2.2B acquisition · 2020
Entered Series A
$2.0B IPO · 2021
Entered Series B+Now $2.0B
$1.9B acquisition · 2018
Entered Series B+
$1.8B IPO · 2025
Entered Series B+Now $1.8B
$1.5B IPO · 2019
Entered Series ANow $61M
$1.3B IPO · 2019
Entered Series B+Now $75M
02 · Estimated holdings

Section 32’s selected top holdings.

An estimate of Section 32’s largest live positions — disclosed shareholding × Dealroom’s latest valuation — across 4 companies where Section 32 is a named shareholder, worth about $796M in estimated equity value.

#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 cap tables on Dealroom →

03 · Portfolio analysis

The 34 Section 32 Power Law outcomes ($100M+ revenue or $1B+ valuation).

Snapshot of where the outcomes are concentrated by country, sector, and stage entered.

By countryCount
  1. USA32
  2. UAE1
  3. Canada1
By sectorCount
  1. Biotech & Life Sciences15
  2. Health Tech & Medtech4
  3. Fintech4
  4. Cybersecurity3
  5. AI3
  6. Transportation2
  7. Other B2B Software1
  8. Other1
  9. Food1
By stage enteredCount
  1. Series B+26
  2. Series A6
04 · Portfolio market map

Section 32's 34 Power Law outcomes.

Stage entered
Outcome tier
Region
Group by
34 of 34 Power Law outcomes
05 · Power Law comparison

How does Section 32 stack up?

Section 32 in orange, your selection in blue and other colours. Pick from the global roster of 35 peer investors — scope by startup location or hit "Find similar shapes" to auto-pick the three closest. The funnel matrix mirrors the spider chart on the ranking page; the line chart shows each firm's share of unicorns minted in the selected startup location — peaks reveal vintage years.

Compare against

Share of new unicorns per year

% of global unicorns minted that year, year by year · hover the chart to see which unicorns

Stage focus

Companies by entry stage and outcome tier

Sector focus

Companies per investor across the 10 highest-volume sectors
Source: Dealroom Power Law dataset. Investors shown are the 2026 Power Law top 35 by combined entry-to-outcome score, drawn from the overview and locations_data sheets. Funnel-matrix axes rescale per-axis using the maximum among the currently selected investors, so the polygons always fill the chart for shape comparison.
06 · Portfolio founders

Where Section 32's portfolio founders come from — and where they studied.

90 founders across the 34 Power Law outcomes — split by country of origin, university attended, and the company they worked at before founding. Stanford University and Alphabet | Google are the deepest single pipelines.

LocationCount
United States36
Italy7
Canada5
Taiwan4
New Zealand3
United Kingdom2
Pakistan2
Russia1
Nepal1
South Africa1
+1 more →
UniversityCount
Stanford University6
University of Cambridge5
Berkeley4
Duke University4
University of Pisa3
Massachusetts Institute of Technology3
University of Pennsylvania3
Sant'Anna School of Advanced Studies2
University of Oxford2
University of California, Santa Barbara2
+37 more →
Origin companyCount
Alphabet | Google11
Yahoo!4
Microsoft3
Meta3
Rubicon2
Tesla2
Apple2
Honey2
GoHealth1
OpenAI1
+17 more →
Origin = country a founder is born in or grew up in (founders may have multiple origins; counts include all entries). University = highest-listed degree. Origin company = a previous employer where the founder was tagged before starting their current company.

Market sentiment

What the market is saying about Section 32

An AI-synthesized read of the highest-engagement posts about Section 32 on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

In the news

Latest news about Section 32

Recent press, funding announcements, and portfolio moves mentioning Section 32 — pulled live from Dealroom's news feed.

See all news

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