Refactor Capital is a seed-stage hard tech venture firm led by solo GP Zal Bilimoria. The firm writes $1-2M checks into founders building in aerospace, energy, bio, health, and other hard-tech domains.
Deal activity decreased year-over-year (1 deal in the last 12 months vs 5 prior). Their most common stage is seed (42% of deals). Average disclosed round size is $45.7M (across 52 rounds with reported amounts).
Portfolio
41
Fund Size
$50M
Top Stage
Seed
Last 12 Mo
1
Team
ZB
Zal Bilimoria
Founding Partner
TS
Tejal Shah
VP Investment
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
59 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Pila Energy | Seed | $4M | Oct 2025 |
 Hexium | Seed | $9.5M | Apr 2025 |
 Remedy | Seed | — | Apr 2025 |
 Causal Labs | Unknown | $6M | Mar 2025 |
| Causal Labs | Seed | $6M | Jan 2025 |
| GGeneral Galactic | Seed | — | Dec 2024 |
 Finova | Series E | $135M | Oct 2024 |
 Granza Bio Corporation | Seed | $7.1M | Jul 2024 |
| BBedrock Materials | Seed | $9M | May 2024 |
| GGeneral Galactic | Pre-Seed | $1.9M | Jul 2023 |
 Melonfrost | Seed | — | Jan 2023 |
 Solugen | Series D | $200M | Nov 2022 |
 FYTO | Series A | $15M | Jul 2022 |
 Evernow | Series A | $28.5M | Apr 2022 |
 Mori | Series A | $50M | Jan 2022 |
| Solugen | Series D | — | Jan 2022 |
 Phytoform Labs | Seed | $5.7M | Dec 2021 |
 Ophelia Health | Series B | $50M | Dec 2021 |
| RRedesign Science | Seed | — | Dec 2021 |
| Solugen | Series C | $350M | Sep 2021 |
 Spora Health | Seed | $3M | Aug 2021 |
 Spora | Seed | $3M | Aug 2021 |
 Knowde | Series B | $72M | Aug 2021 |
 Path AI | Series C | $165M | May 2021 |
| Ophelia Health | Series A | $15M | Apr 2021 |
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Top Co-Investors
Y Combinator14 shared
Fifty Years10 shared
BoxGroup7 shared
Cantos6 shared
General Catalyst5 shared
Baillie Gifford5 shared
Knollwood Investment Advisory4 shared
MaC Venture Capital4 shared
Hawktail4 shared
Bee Partners3 shared
Sequoia Capital3 shared
Tiger Global Management, LLC3 shared
Lowercarbon Capital3 shared
Menlo Ventures3 shared
Spacecadet Ventures3 shared
Human Ventures3 shared
Techstars3 shared
M133 shared
Last updated: 20 October 2026