# Section 32: portfolio, investments and team

> Section 32 is a vc firm based in United States. 24 investments on record, 2 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/section-32 (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Section 32

Last cheque observed Sep 2026; 24 cheques on record.

Email

VC firm Deploying now Last fund $481M, Jul 2023

Pre-seed Seed Series A Ehealth Healthier Living Healthcare

Follow Section 32 and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fsection-32)

Deploying now

**67%** of best year **2** **cheques in 12 months**, 24 on record

Since the last cheque **42** days **00** hrs **00** min **00** sec

Median round **$45M** Cheque size, as they say **$10K – $10M** Rounds led **3 of 24** Sole investor **1 rounds** Mostly in **United States, 96%**

Pitch Section 32

## Section 32 highlights

- 01 2 cheques in the last 12 months
- 02 Mostly Series B and Series A: 70% of its rounds
- 03 Sole investor in 1 rounds, median $14M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $10K – $10M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth Pre-IPO
- **Sectors:** Ehealth Healthier Living Healthcare
- **Based in:** San Diego, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **24 appearances**

- **2026** 2 rounds
- **Sept** **[Ema](https://millionrounds.com/company/ema)** Series B · US · Inc42 **$77M** With 6 others
- **Aug** **[Network Bio](https://millionrounds.com/company/network-bio)** US · Ventureburn **$50M** With 7 others
- **2025** 3 rounds
- **Oct** **[NewLimit](https://millionrounds.com/company/newlimit)** US · Ventureburn **$45M** With 11 others
- **May** **[Inductive Bio](https://millionrounds.com/company/inductive-bio)** Series A · US · AlleyWatch **$25M** With 7 others
- **Apr** **[Endor Labs](https://millionrounds.com/company/endor-labs)** Series B · US · TechCrunch **$93M** With 8 others
- **2019** 7 rounds
- **Dec** **[Aspen Neuroscience](https://millionrounds.com/company/aspen-neuroscience)** Seed · US · FinSMEs **$6.5M** With 5 others
- **Dec** **[XOKind](https://millionrounds.com/company/xokind)** Seed · US · FinSMEs **$1.7M** *Led*
- **Jul** **[Freenome](https://millionrounds.com/company/freenome)** Series B · US · FinSMEs **$160M** With 11 others
- **Jul** **[Cradle Genomics](https://millionrounds.com/company/cradle-genomics)** Series A · US · FinSMEs **$17M** *Led*
- **May** **[Thrive](https://millionrounds.com/company/thrive)** Series A · US · FinSMEs **$110M** With 9 others
- **May** **[MedCrypt](https://millionrounds.com/company/medcrypt)** Series A · US · FinSMEs **$5.3M** *Led*
- **Apr** **[Embark Veterinary](https://millionrounds.com/company/embark-veterinary)** Series A · US · FinSMEs **$10M** With 6 others
- **2018** 6 rounds
- **Sept** **[Fulcrum Therapeutics](https://millionrounds.com/company/fulcrum-therapeutics)** Series B · US · FinSMEs **$80M** With 6 others
- **Jul** **[Metromile](https://millionrounds.com/company/metromile)** Series E · US · VentureBeat **$90M** With 4 others
- **Jul** **[Dialpad](https://millionrounds.com/company/dialpad)** Series D · US · FinSMEs **$50M** With 4 others
- **Jul** **[Cue Health](https://millionrounds.com/company/cue-health)** Series B · US · Cuehealth **$45M** With 7 others
- **Apr** **[Vineti](https://millionrounds.com/company/vineti)** Series B · US · FinSMEs **$34M** With 5 others
- **Feb** **[Celularity](https://millionrounds.com/company/celularity)** US · FinSMEs **$250M** With 7 others
- **2017** 6 rounds
- **Dec** **[Relay](https://millionrounds.com/company/relay)** Series B · US · FinSMEs **$63M** With 5 others
- **Oct** **[LimeBike](https://millionrounds.com/company/limebike)** Series B · US · FinSMEs **$50M** With 7 others
- **Oct** **[Kobalt](https://millionrounds.com/company/kobalt)** Series D · US · TechCrunch **$14M** Sole investor
- **Sept** **[Dialpad](https://millionrounds.com/company/dialpad)** US · VentureBeat **$17M** With 4 others
- **Aug** **[Teckro](https://millionrounds.com/company/teckro)** Series B · IE · Irishtimes **$10M** With 2 others
- **Jul** **[BloomAPI](https://millionrounds.com/company/bloomapi)** Seed · US · FinSMEs **$2.4M** With 8 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **2 named**

BM **Bill Maris** Managing Member of the General Partner i Filing they signed

WJ **William J. Maris** Managing Member of the General Partner i Filing they signed

We also hold **14** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What they claim to have backed

From their own portfolio page (on their website)

**24** of 26 we have independently watched raise

[Basecamp](https://millionrounds.com/company/basecamp-research)[Black Forest Labs](https://millionrounds.com/company/black-forest-labs)[Cohere](https://millionrounds.com/company/cohere)[Coinbase](https://millionrounds.com/company/coinbase)[Crowdstrike](https://millionrounds.com/company/crowdstrike)[Databricks](https://millionrounds.com/company/databricks)[Deel](https://millionrounds.com/company/deel)[Ema](https://millionrounds.com/company/ema)[Endor Labs](https://millionrounds.com/company/endor-labs)[Gusto](https://millionrounds.com/company/gusto)[Inceptive](https://millionrounds.com/company/inceptive)[Infleqtion](https://millionrounds.com/company/infleqtion)[Legora](https://millionrounds.com/company/legora)[Linear](https://millionrounds.com/company/linear)[Neuralink](https://millionrounds.com/company/neuralink)[Ohalo](https://millionrounds.com/company/ohalo)[Phaidra](https://millionrounds.com/company/phaidra)[Physical intelligence](https://millionrounds.com/company/physical-intelligence)[Prometheus](https://millionrounds.com/company/prometheus)[SandboxAQ](https://millionrounds.com/company/sandboxaq)[Scale AI](https://millionrounds.com/company/scale-ai)[Slack](https://millionrounds.com/company/slack)[Snorkel](https://millionrounds.com/company/snorkel-ai)[Uber](https://millionrounds.com/company/uber-advanced-technologies-group) 8090 Raya

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

Latest fund on file

**$481M**

raised in Jul 2023

From its SEC filing. Nothing newer is on file yet.

## The cheque

Pre-seed Seed Series A

Median round joined **$45M** the round, not its cheque Alone, median **$14M**

Led 3 of 24 rounds **13%**

- **Said size:** $10K – $10M
- **Sole investor:** 1 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Series B said *9*
- Series A said *5*
- Seed said *3*
- Series D *2*
- Series E *1*
- Pre-seed said *-*
- Growth said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [S32](https://millionrounds.com/fund/s32) 5
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 4
- [Casdin Capital](https://millionrounds.com/fund/casdin-capital) 4
- [Alexandria Real Estate Equities](https://millionrounds.com/fund/alexandria) 3
- [Amasia](https://millionrounds.com/fund/amasia) 2
- [Axon Ventures](https://millionrounds.com/fund/axon-ventures) 2

**Pitching Section 32?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Section 32. A count of rooms they were both in, not a relationship either has claimed.

[**S32** VC firm **5** rounds together](https://millionrounds.com/fund/s32)[**Andreessen Horowitz** VC firm **4** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Casdin Capital** VC firm **4** rounds together](https://millionrounds.com/fund/casdin-capital)[**Alexandria Real Estate Equities** VC firm **3** rounds together](https://millionrounds.com/fund/alexandria)[**Amasia** VC firm **2** rounds together](https://millionrounds.com/fund/amasia)[**Axon Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/axon-ventures)[**Founders Fund** VC firm **2** rounds together](https://millionrounds.com/fund/founders-fund)[**Google Ventures** Corporate VC **2** rounds together](https://millionrounds.com/fund/gv)[**The Blue Venture Fund** Corporate VC **2** rounds together](https://millionrounds.com/fund/bluecross-blueshield-venture-partners)[**Third Rock Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/third-rock-ventures)[**Y Combinator** Accelerator **2** rounds together](https://millionrounds.com/fund/y-combinator)

## Recently backed

The latest companies Section 32 put money into.

[**Ema** $77M · Sept 2026](https://millionrounds.com/company/ema)[**Network Bio** $50M · Aug 2026](https://millionrounds.com/company/network-bio)[**NewLimit** $45M · Oct 2025](https://millionrounds.com/company/newlimit)[**Inductive Bio** $25M · May 2025](https://millionrounds.com/company/inductive-bio)[**Endor Labs** $93M · Apr 2025](https://millionrounds.com/company/endor-labs)[**Aspen Neuroscience** $6.5M · Dec 2019](https://millionrounds.com/company/aspen-neuroscience)

## Quick answers about Section 32

### What does Section 32 invest in?

Section 32 invests most often at Series B and Series A (70% of the rounds on record), in sectors such as Ehealth, Healthier Living and Healthcare.

### How active is Section 32?

24 investments on record, 2 of them in the last 12 months, and it led 3. The most recent was in Sept 2026.

### What has Section 32 invested in recently?

Its most recent investments on record: Ema (Series B, Sept 2026), Network Bio (Undisclosed round, Aug 2026) and NewLimit (Oct 2025).

### How big are Section 32's cheques?

The median round it joins is $45M. It says it writes cheques of $10K to $10M.

### Does Section 32 lead rounds?

Sometimes: it led 3 of its 24 investments on record (13%).

### Where does Section 32 invest?

Most of the companies it backs are in the United States (96%).

### Is Section 32 investing now?

Yes: it is actively investing, with 2 investments in the last 12 months.

### Who does Section 32 invest alongside?

Most often S32 (5 rounds together), Andreessen Horowitz (4 rounds together) and Casdin Capital (4 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=section-32) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=section-32)