Innovation Endeavors Research Document
Investment Thesis
Innovation Endeavors invests in the "Super Evolution" — the convergence of three transformative technical forces: ubiquitous sensors, advanced machine learning and cloud systems, and robotics/3D printing/CRISPR. Founded in 2010 by former Google CEO Eric Schmidt and Dror Berman, the firm is deeply committed to partnering with technical founders solving hard engineering and science problems to rethink large industries. Their core belief is that we are at an inflection point where the convergence of sensing, computation, and physical engineering creates unprecedented opportunities to solve humanity's most pressing challenges.
The firm describes itself as investing in visionaries at the intersection of science and technology, tackling audacious challenges to build generational companies. They seek to incubate small teams with big ideas and actively support founders from inception through growth with unrestricted access to the full partnership.
Investment Strategy and Areas of Focus
Innovation Endeavors organizes its investment thesis around four primary pillars:
1. Intelligent Software - Vertical software uniquely enabled by advances in data, computation, and AI. This includes AI-powered market intelligence platforms, document processing, domain-specific AI applications, and intelligent software across industries.
2. Computing Infrastructure - Hardware and software primitives for building the next generation of computing systems. This encompasses quantum computing, observability platforms, API infrastructure, data systems, CI/CD platforms, and the broader computational stack needed to support AI and machine learning at scale.
3. Physical Economy - Tools and technology to increase productivity and efficiency while reducing climate impact for the largest real-world industries. This includes supply chain optimization, logistics automation, clean energy transition, mining technology, manufacturing automation, and decarbonization solutions.
4. Engineering Health - Data-driven innovations to transform the development of medicine, diagnostics, and healthcare. This includes drug discovery platforms, live-cell imaging technology, AI applications in clinical workflows, and novel therapeutic development approaches.
Stage Focus and Check Sizes
Innovation Endeavors focuses on early-stage and growth investments with typical initial commitments between $1M-$15M. They focus primarily on Seed and Series A stages, with occasional pre-seed investments in exceptional founders. The firm frequently leads or co-leads rounds they invest in and typically takes board seats, aiming to be the most active director.
Fund Status and Capital
Fund V ($630 million) was closed in January 2024, representing the firm's largest fund to date. The fund raised from 85 institutional limited partners. Fund V is actively deploying capital with recent investments in 2025-2026 including Think Bioscience ($55M Series A), DataRails (Series C), and Cosmos Innovation (Series B).
Portfolio and Track Record
Innovation Endeavors has invested in 334+ companies across multiple decades. Notable exits include:
Public Companies: Planet Labs (NASDAQ: PL), SoFi (NASDAQ: SOFI), Uber (NYSE: UBER), and others.
Strategic Acquisitions: Blue River Technology (acquired by John Deere, 2017), Datorama (acquired by Salesforce, 2018), Own Company.
Active Portfolio: Atom Computing (quantum computing), Eikon Therapeutics (drug discovery), Gatik AI (autonomous logistics), Kong (API platform), Panther (SIEM), Extend (document processing), Dosu (AI code review), Think Bioscience (computational biology), Character Biosciences (drug discovery), Afresh (supply chain optimization), and AlphaSense (market intelligence).
Team and Leadership
The partnership consists of world-class operators and thought leaders:
- Eric Schmidt - Founding Partner, former CEO and Executive Chairman of Google (2001-2011)
- Dror Berman - Founding Partner with special forces background
- Scott Brady - Founding Partner
- Rick Scanlon - Founding Partner
- Davis Treybig - General Partner, company builder
- Harpinder Singh - General Partner
- Nick Olsen - Partner
- Jørgen Vig Knudstorp - Partner and Executive Advisor, former CEO of LEGO Group
Additional team includes Josh Rapperport (Principal), Sam Smith-Eppsteiner (Venture Partner), Josh Berglund (Venture Partner, defense/government), Tomás Álvarez Belón (Principal), Rebecca Lucia (CFO and Operating Partner), Alexa Dennett (VP Marketing & Communications), and Lara Woo (Head of Investor Relations).
The team deliberately combines company builders, technologists, scientists, Stanford professors, and operators—each a thought leader in their domain. A key differentiator is that portfolio companies receive unrestricted access to all partners.
Decision Process and Engagement
Innovation Endeavors uses partnership-based decision making with collaborative evaluation across team members' diverse expertise. They engage deeply with portfolio companies, typically take board seats, frequently lead or co-lead rounds, and provide sustained follow-on capital. The firm offers access to the full partnership network for specialized guidance, team building, recruiting, and scientific advisory support.
Key Differentiators
- Thesis-Driven Research - Deep horizontal expertise in AI, semiconductors, quantum, robotics, and life sciences
- Research Driven Ideation (RDI) - Proprietary framework helping entrepreneurs identify opportunities
- Curiosity Camp - Invite-only unconference convening world-class talent
- University Partnerships - Collaborations with Stanford on programs like dy/dx
- Venture Creation Program - Proactively helps form founding teams before ideas exist
- Collaborative Culture - No gatekeeping; unrestricted partner access for portfolio companies
- Patient Capital - Fund V's size signals commitment to long development cycles needed for deep tech
Investment Philosophy and Founder Preferences
Innovation Endeavors seeks technical founders solving hard engineering and science problems, mission-driven teams, AI-native scientists leveraging AI as a fundamental tool, cross-functional teams, and founders at inception or very early stage.
Recent thinking emphasizes AI as national security, the global "Space Race" for technological supremacy (AI, semiconductors, quantum computing), decarbonization as multi-decade opportunity, convergence of biology and computation in drug discovery, and domestic reindustrialization requiring automation.
Geographic Focus
Headquartered in Palo Alto, California with offices in Silicon Valley, New York, and Tel Aviv. They focus on US investments with selective international opportunities in regions driving innovation (Japan, South Korea, Israel, Europe).
Competitive Positioning
Innovation Endeavors is positioned as one of the leading early-stage venture firms with exceptional founder reputation (Eric Schmidt), deep multi-domain technical expertise, patient capital for long development cycles, strong follow-on capacity, unique operational support (Curiosity Camp, RDI), and access to world-class networks in technology, science, and policy.
Conclusion
Innovation Endeavors represents a compelling partnership for technical founders solving humanity's biggest challenges at the intersection of science and technology. With $630M in active capital, a world-class partnership team, and a proven track record spanning 14+ years and 334+ investments, they actively deploy capital supporting companies tackling sensors, computation, and physical engineering convergence. Their willingness to take board seats, lead rounds, and provide unrestricted partner access makes them exceptional for founders building generational companies in AI, quantum, biotech, clean energy, autonomous systems, and frontier infrastructure.