About Phase Two Ventures
Phase Two Ventures is a venture capital firm located in San Diego, United States. As of Mar 2026, Phase Two Ventures is an active investor, having invested in 11 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and HealthTech. Most recently it participated in the $***** Seed round of RyboDyn A lot of funds co-invest with Phase Two Ventures, with names like AngelCentral sharing a substantial percentage of its portfolio. Phase Two Ventures has team of 3 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
Phase Two Ventures' List of Top Investments
Phase Two Ventures has a portfolio of 11 companies. Their most notable investments include NanoCellect Biomedical and Arima Genomics.Their portfolio spans across United States and Canada. They have invested in Life Sciences, High Tech, HealthTech and 2 other sectors, across stages such as Seed stage. Here is the list of top investments by Phase Two Ventures:
NanoCellect Biomedical is a developer of molecular diagnostics, and improve personalized medicine. The company offers WOLF Cell Sorter, which uses a closed fluid-path microfluidic cartridge that enables cell sorting, and avoids biohazard and shear stress issues associated with traditional cell sorters. It claims that this technology sorts cells at the highest purity with almost no loss of viability. This technology has downstream applications of gene expression and sequencing. It also used in sorting rare cells such as circulating tumor cells (CTCs) from blood samples.
Key facts about NanoCellect Biomedical
- Founded Year: 2009
- Location: San Diego (United States)
- Stage: Series D
- Total Funding till date: $78.1M
- Employee Count: 21 as on Sep 30, 2026
- Investors: Illumina Ventures, Vertical Venture Partners and 15 Others
- Latest Funding Round: Series D, Jun 29, 2023, $*****
- Highlight: Editors' Pick
Developer of technologies for genome sequence and structure. Arima Genomics is developing a novel method of DNA sequencing that enables genome-scale phasing or haplotyping of DNA variants using a combination of proximity ligation (Hi-C), short-read DNA sequencing, and a proprietary probabilistic algorithm for haplotype assembly. The company calls its new method, HaploSeq, and is derived from work done by Selvaraj et al (Nature Biotechnology, 2013, Vol 31, pp-1111). The method addresses a currently unmet need for cost-effective and reliable methods for the phasing of variants. Arima has multiple SIBR grants from the Department of Health and human services to develop their method.
Key facts about Arima Genomics
- Founded Year: 2015
- Location: San Diego (United States)
- Stage: Series C
- Total Funding till date: $29M
- Employee Count: 43 as on Sep 30, 2026
- Investors: Illumina Ventures, Phase Two Ventures and 10 Others
- Latest Funding Round: Grant (prize money), Sep 04, 2025, $*****
- Highlight: Editors' Pick
3. RyboDyn
Developer of immunotherapies for the treatment of cancer. The company has developed antigen discovery and validation platform to create a transformative medicines for patients with cancer.
Key facts about RyboDyn
- Founded Year: 2022
- Location: San Diego (United States)
- Stage: Seed
- Total Funding till date: $14M
- Employee Count: 16 as on Aug 31, 2026
- Investors: Phase Two Ventures, SOSV and 6 Others
- Latest Funding Round: Seed, Mar 24, 2026, $*****
- Highlight: Editors' Pick
Provider of process analytical technologies for advanced biomanufacturing. The company's flagship product is DynaCHIP, drops into existing mass spectrometry workflows that enables sample preparation exponentially. It also offers DynaMARK, which incorporates a data science module to generate on-demand measurements of the most important metrics for modern biopharma workflows.
Key facts about Andson Biotech
- Founded Year: 2021
- Location: Atlanta (United States)
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $9.1M
- Employee Count: 18 as on Aug 31, 2026
- Investors: Phase Two Ventures, Y Combinator and 2 Others
- Latest Funding Round: Series A, Oct 17, 2025, $*****
- Highlight: Editors' Pick
Key facts about 1933 Industries
- Founded Year: 2017
- Location: Canada
- Stage: Public
- Employee Count: 20 as on Aug 31, 2026
- Investors: Phase Two Ventures, Sutton Ventures and 1 Other
- Latest Funding Round: Post IPO, Mar 04, 2021, $*****
- Highlight: Public
Phase Two Ventures' Year-on-Year Investment Trends
As of Mar 2026, it has made 1 investment in this year. Its most recent first time investment was in RyboDyn.Phase Two Ventures' Investments by Stage
Phase Two Ventures has made 1 investment in Seed stage with an average round size of $10M.Phase Two Ventures' Investments by Sector
Phase Two Ventures has a portfolio focused on Life Sciences. Notably, it has invested in 10 Enterprise (B2B) companies, 9 Tech companies, 3 Tech hardware companies and at least 1 company focusing on Consumer (B2C).Phase Two Ventures' Investments by Geography
Phase Two Ventures has made most investments in United States (1).Phase Two Ventures' recent investments
Phase Two Ventures has made 1 investments in 2026 so far - RyboDyn.Here are the most recent investments by Phase Two Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 24, 2026 | United States | Seed | 9524 | [+5] |
IPOs and Publicly Listed companies in Phase Two Ventures' Portfolio
1 of Phase Two Ventures' portfolio company became public - 1933 Industries. It got listed on the Canadian Securities Exchange (CSE), in Oct 2010 at marketcap of $7.76KHere are Phase Two Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 29, 2010 | - | - | 3439 |
Acquired companies in Phase Two Ventures' Portfolio
2 companies from Phase Two Ventures' portfolio have been acquired. The most recent acquisition was Mesa Biotech in Jan 2021 by Thermo Fisher Scientific for $*****.Here are Phase Two Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 19, 2021 | - | - | 6462 | |
Feb 23, 2012 | - | - | 5035 |
Team profile of Phase Two Ventures
Phase Two Ventures has a team of 3 members including 1 Partner and 1 Venture Partner located in United States. Phase Two Ventures' team does not sit on the board of any company as of now.Co-investors of Phase Two Ventures
Over the past year, 7 investors have co-invested in Phase Two Ventures's portfolio companies. This includes funds and angels.
- Invested before Phase Two Ventures: EvoNexus, Genedant and 3 others have invested in rounds before Phase Two Ventures. There is 1 company where EvoNexus has invested before Phase Two Ventures and 1 company where Genedant has invested before Phase Two Ventures.
- Top Co-investors of Phase Two Ventures: 2 investors entered a company along with Phase Two Ventures. These include investors like AngelCentral (1 company).
