Chemistry is a San Francisco-based early-stage venture firm founded in October 2024 by Mark Goldberg, Ethan Kurzweil, and Kristina Shen, formerly of Index Ventures, Bessemer Venture Partners, and Andreessen Horowitz respectively. The three partners combined nearly four decades of investing experience at three of the most prestigious VC firms in the world, launching Chemistry to build a concentrated, high-conviction early-stage franchise with deeper founder relationships than large multi-stage platforms allow. Fund I closed at $350M oversubscribed in 2024; Fund II is targeting $500M and is reported to be oversubscribed.
Chemistry backs early-stage software companies across developer tools, fintech, infrastructure, and AI-native applications.
The firm invests at seed and Series A, prioritizing founders building non-consensus, category-defining companies where early conviction matters most.
The team also selectively invests in biotech and life sciences where AI intersects with drug discovery and therapeutics.
Chemistry Fund II is targeting $500M and is reported by the WSJ to be oversubscribed, with a close expected imminently as of July 2026, per an SEC filing.
Fund I closed at $350M oversubscribed in October 2024, one of the largest debut funds raised in recent years. LP composition is not publicly disclosed.
Leadership
Mark Goldberg is Co-Founder and Managing Partner, formerly a Partner at Index Ventures where he backed companies including Pilot and Figma.
Ethan Kurzweil is Co-Founder and Managing Partner, formerly a Partner at Bessemer Venture Partners where he backed Twitch, Intercom, and LinkedIn. He is the son of futurist Ray Kurzweil.
Kristina Shen is Co-Founder and Managing Partner, formerly a General Partner at Andreessen Horowitz (2019–2024) and Partner at Bessemer Venture Partners (2013–2019), where she backed Mux, Pave, Wrapbook, Rutter, Gainsight, Instructure, and ServiceTitan.
Bohan Lou is Partner.
Investment Strategy
Chemistry writes seed and Series A checks into early-stage software companies, with the three managing partners each making a small number of investments per year, prioritizing depth of partnership over volume.
The firm's founding thesis is that founders deserve a venture partner who can be deeply engaged rather than passively capital-deploying, and that the institutional advantages of large multi-stage platforms come at the cost of that founder relationship depth.
Chemistry's combined pedigree, three of the top VC firms in the world, gives it access to competitive rounds while operating with the agility of a smaller firm.
Notable Investments
Mark Goldberg — Co-Founder & Managing Partner
mark@chemistry.vc
Ethan Kurzweil — Co-Founder & Managing Partner
Kristina Shen — Co-Founder & Managing Partner
kristina@chemistry.vc
Bohan Lou — Partner
United States
