Our investments

Portfolio

Each entry states what became possible, and why it passes. Nothing else.

Intelligence × Biology · July 2026

Trillion Bio

Many biologics that work intravenously cannot be reformulated for subcutaneous delivery at the concentrations required. Trillion, a Harvard spinout from the Mitragotri lab, is building the platform that removes that constraint. Co-founded by Yelena Bisharyan, a Hermenica Venture Advisor.

Why it passes. A moat rooted in science, applied to one of the most valuable bottlenecks in drug delivery. If it works, many therapies move from the infusion chair to the patient's home.

Intelligence × Compute · June 2026

Frontier AI lab (stealth)

A frontier AI lab founded by a former VP of Research at one of the world's leading frontier labs, building the next paradigm in how machine intelligence learns. The round was open by invitation only. The company remains in stealth; details will follow its announcement.

Why it passes. A discontinuity at the substrate of intelligence itself: a replacement for today's approach, not an upgrade to it.