Two Bear Capital
Two Bear Capital, based in Montana, backs Seed and Series A life sciences, cybersecurity, and healthtech startups, mostly leading rounds with checks from $3 million to $10 million.
Who you would pitch at Two Bear Capital
10 people on the investing team, 6 of them partners who can make the call. Partners are listed first.
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Writes $3M to $10M checks. Its smallest check is larger than 93% of firms in the atlas.
Bars: how many firms in the atlas report each band. Highlighted: this firm.No recent activity since September 2026. Quiet does not mean closed.
Weekly count of activity updates. Activity is not a confirmed deal.Notable investments
In their words
Send Mode VC your deck
Raising a pre-seed or seed round? We write $1M to $5M first checks and help founders with distribution. A partner reads every deck.
Send your deckAlert me when Two Bear Capital is active
One email when this firm shows new activity. Nothing else.
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Questions
What stage does Two Bear Capital invest in?
Two Bear Capital reports entry at seed, series a.
How much does Two Bear Capital invest?
Two Bear Capital reports checks of $3M to $10M.
Does Two Bear Capital lead rounds?
Yes. Two Bear Capital says it can lead.
Who are the partners at Two Bear Capital?
J. Seth Strattan (General Partner), Mike Goguen (Founder & Managing Partner), Avery Sonnenberg (Partner), Cris Neckar (Partner), Mark Adams (Partner), Neil White (Partner).
Is Two Bear Capital active right now?
No recent activity since September 2026.
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