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Refactor Capital

HQ · California
WebsiteLinkedInCrunchbaseUpdate entry

Refactor Capital is a seed-stage hard-tech firm investing $1–2 million in U.S. companies across aerospace, energy, biology, health, nuclear, defense, advanced manufacturing, and critical materials.

Stage focus
Seed
Lead / follow
Can Lead
Check size

$1M–$2M

Source ↗
Ownership target
7–10%
Specialization
Deep TechLife SciencesAerospace / DefenseClimate / EnergyIndustrial / Manufacturing
Generalist / Specialist

Specialist

Latest fund size

$50 million Fund V; $300 million managed across five funds

Latest fund vintage

2026

Investing team
  • Zal Bilimoria, Founding Partner (solo GP)Zal BilimoriaFounding Partner (solo GP)
How to reach them

https://refactor.com/contact/

Notable investments

Astranis, Solugen, BioRender, PathAI

Sources
refactor.com ↗vcsheet.com/fund/refactor-capital ↗fundmomentum.vc/blog/refactor-capital-fund-5-50m-zal-bilimoria-hard-tech-2026 ↗

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