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The Venture Codex

UC Investments

1111 Franklin St., Oakland, CA, 94607, United States

Overview

UC Investments oversees the University of California's investment portfolio, managing a diverse array of assets, including endowments, pension funds, and working capital. The organization is committed to achieving long-term growth while upholding sustainability and fiduciary responsibility. UC Investments employs a strategic approach to asset management, integrating environmental, social, and governance (ESG) factors into its investment decisions. By focusing on responsible investing, the organization aims to support the financial stability of the University of California system and contribute to the broader goals of sustainable development and social impact.

Total investments
14
Lead investments
4
Investments · 12mo
4
Active investors
1
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Investment portfolio

  • Qolab

    Led · Series B · Jul 2026

    Qolab develops a superconducting quantum computing platform aimed at utility-scale, fault-tolerant systems. The company combines physics and engineering expertise with strategic semiconductor partnerships to address manufacturing and scaling challenges. Qolab collaborates with Lawrence Berkeley National Laboratory through the Quantum Systems Accelerator and with researchers at UC Santa Barbara. The company is led by co-founder and CEO Alan Ho and co-founder and CTO Dr. John Martinis, who was awarded the 2025 Nobel Prize in Physics. Qolab is headquartered in Santa Barbara, California. Financially, Qolab recently completed a financing that brought total new funding and convertible conversions to $54.2 million to accelerate development and partnerships.

  • Qubic

    Participated · Seed · Jun 2026

    Qubic develops Kinetic Inductance Traveling Wave Parametric Amplifiers (KI-TWPAs), ultra-low-noise, wide-bandwidth microwave amplifiers intended for reading out superconducting qubits and compatible with other qubit modalities. Its amplifiers derive nonlinear inductance from the transmission line material rather than Josephson junctions, aiming for a more robust, scalable device that operates near the quantum limit and supports multiplexed qubit readout. Qubic reports heat dissipation for its amplifiers is expected to be cut to under 0.1 mW per amplifier, addressing a key bottleneck in cryogenic quantum systems. The company has sold its devices to Quantum Machines and plans to scale manufacturing to meet demand from quantum computing and defense customers. Qubic is also developing an RF quantum sensing platform leveraging its amplifier technology for applications such as threat detection and covert communications, and intends to grow its team three-fold to achieve these goals.

  • Prenosis

    Participated · Series A · Feb 2026

    Prenosis develops AI-powered diagnostic and therapeutic tools that tailor care to each patient’s unique biological profile. Its core Immunix platform aggregates deep biological data to create diagnostics such as the Sepsis ImmunoScore, the first FDA-authorized AI test for sepsis. The company aims to commercialize ImmunoScore while continuing to expand its portfolio of biology-based diagnostics. Plans include deploying the platform in up to 40 academic medical centers to establish a precision-medicine clinical-trial network, enabling rapid recruitment of patients with specific biological signatures. Led by CEO Bobby Reddy, Jr., PhD, Prenosis positions itself at the intersection of data science, biology, and clinical practice to improve outcomes in critical conditions. The new capital will accelerate product rollout and broaden clinical integration efforts, supporting the company’s mission to personalize critical-care medicine.

  • LM Arena

    Led · Series A · Jan 2026

    Spun out of a UC Berkeley research initiative in 2023, LMArena runs public leaderboards where 5 million monthly users vote on head-to-head model responses drawn from providers such as OpenAI, Google, Anthropic and xAI. The site has logged roughly 60 million conversations a month across 150 countries, generating a unique, crowdsourced benchmark that model developers closely watch. In September it launched AI Evaluations, a paid service through which enterprises, model labs and developers commission bespoke testing, giving the company an annualized consumption rate (ARR) of about $30 million just four months after launch. LMArena positions this data network as the foundation for future products aimed at systematic, large-scale model assessment. The company contends its neutrality despite criticism that partnerships with major model makers could bias rankings. Founders Anastasios Angelopoulos and Wei-Lin Chiang previously funded the project with grants and donations before commercializing. To date the startup has raised $250 million in equity financing and was recently valued at $1.7 billion post-money.

  • Eikon Therapeutics

    Led · Series D · Feb 2025

    Eikon Therapeutics integrates advanced engineering, single-molecule tracking and high-performance computing to visualize protein movement in living cells and accelerate drug discovery. Its clinical portfolio is anchored by EIK1001, a systemically administered TLR7/8 co-agonist now in Phase III for advanced melanoma, alongside EIK1003 (a PARP1 inhibitor in Phase 1) and EIK1004 (a CNS-penetrant PARP1-selective inhibitor poised to enter Phase 1 for brain cancers). The company is also advancing earlier-stage candidates, including two androgen receptor antagonists and an internally derived WRN inhibitor (EIK1005) for MSI-high and other DNA repair–deficient cancers. Clinical studies are operating in 28 countries across five continents, and Eikon says it is expanding R&D and building a fully integrated, 21st-century biotechnology company. Financially, Eikon announced the initial closing of a $350.7 million Series D and has privately raised in excess of $1.1 billion since its 2019 founding. Eikon operates facilities in California, New Jersey, and New York. Eikon Therapeutics integrates engineering and science to discover and advance drug candidates using its proprietary AI-powered Single Molecule Tracking (SMT) technology. The company’s internally developed programs focus on preclinical candidates in oncology, immunology, and neurologic disease. Eikon has expanded its pipeline by acquiring global rights to clinical-stage TLR7/8 agonists, licensing PARP1-selective inhibitors, and acquiring preclinical assets addressing protein homeostasis, DNA damage repair, and chromatin remodeling. Its clinical team has deep experience in advancing programs through regulatory review, and Eikon intends to use its SMT instruments to inform clinical-trial design and program decisions. Financially, Eikon completed a first close of a Series C equity financing that added nearly $106 million and has raised nearly $775 million in total capital since its founding in late 2019. Eikon Therapeutics builds a drug-discovery platform centered on super-resolution fluorescence microscopy, single-particle tracking and the quantitative data those microscopes generate. The company is focused on industrializing that platform to run high-throughput, live-cell drug screens and to reveal new biology and drug targets. Eikon is pursuing four unnamed target programs and has one undisclosed partner. Leadership and scale-up are priorities: the company plans to grow its roughly 100-person team (with an aim to double headcount) and has made multiple senior hires while operating under the oversight of Roger Perlmutter. Management says the platform is already running drug screens around the clock and generating high volumes of quantitative protein-dynamics data. Financially, Eikon has raised a large Series B and has accumulated over $668 million in total disclosed financing. Eikon Therapeutics has developed a live-cell super-resolution microscopy platform that measures the real-time movement of individual proteins in living cells to inform drug discovery. The platform evolved from Nobel Prize–winning work in super-resolution microscopy by Eric Betzig and collaborators and was industrialized by founders Betzig, Xavier Darzacq, Luke Lavis, and Robert Tjian. Eikon combines physics, engineering, chemistry, biology, automation, machine learning, and high-performance computing to apply protein-dynamics measurements across the drug discovery process. The company aims to translate these biological insights into differentiated therapeutics for unmet medical needs. Eikon is based in Hayward, Calif., and recently closed a $148 million Series A financing. The company also announced the appointment of Roger M. Perlmutter as its Chief Executive Officer and maintains a multidisciplinary scientific advisory board and leadership team to advance its platform.

Team