Part of the Thiel Foundation From Wikipedia, the free encyclopedia
Breakout Ventures, formerly Breakout Labs,[1] is a venture capital firm affiliated with the Thiel Foundation (a philanthropic organization created by Peter Thiel).[2]
| |
| Formerly | Breakout Labs |
|---|---|
| Founded | 2012 |
| Founder | Peter Thiel |
| Headquarters | 38 Mesa St., |
| Parent | Thiel Foundation |
| Website | breakout.vc |
Breakout Labs issued convertible grants[3] for early-stage commercialization of scientific research that was considered too speculative or long-term to interest the for-profit sector (such as angel investors and venture capitalists) but may have been unsuitable for traditional sources of funding for scientific research due to its radical or offbeat nature.[4] Grants were made through a competitive application and selection process.[5]
Breakout Labs announced its first batch of grantees on April 17, 2012,[6] its second batch of grantees on August 15, 2012,[7] and its third batch of grantees in April 2013.[8] In total, Breakout Labs made 50 investments before winding down the program in 2021:[9]
The announcement of Breakout Labs (October 2011), as well as the announcements of its first batch of grantees (April 2012), received considerable media attention.[10] The first and second batches of grantees were covered by TechCrunch.[11][12] Breakout Labs was also covered in Nature[13] and Scientific American.[14]
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