triatomic q2 2025 private
Triatomic Capital Q2 2025 investor letter (dated July 31, 2025) summarizing market observations and portfolio updates. Key themes: rapid evolution and fragmentation among foundational AI model providers, rising demand and constrained supply for compute/datacenter capacity, growing tooling that reduces switching costs, and a difficult policy/funding environment for life sciences (notably substantial NIH funding cuts and overhead cap). Fund update: Private I LP has 15 portfolio companies (10 core), sector allocation heavily weighted to engineered biology and next‑gen compute, active dealflow and several follow-on financings expected; AGM scheduled for Sept 11, 2025.
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July 31, 2025
15 companies
10 core investments
31% engineered biology; 31% next‑gen compute; 22% automated economy; 10% engineered materials; 5% new energy
$44.4B