How Corey Nobile Scaled Fundomo Past $500 Million in Two Years

Most new venture firms spend years proving out a thesis before assets under management start to meaningfully compound. Fundomo did it in two, and today's combined filing shows the pace has not slowed.

Fundomo TT-002, LP and Fundomo SA-001, LP filed today for $12.50 million and $10.31 million respectively, a combined $22.81 million tied back to Fundomo, the deep tech and life sciences investor co-founded in 2023 by husband-and-wife team Corey Nobile and Siranush Babakhanova in New York. Nobile also serves as CEO and chairman of Circa Technologies. Fundomo has scaled to more than $500 million in assets under management within its first two years, with nine portfolio investments to date, including four made in the past twelve months, and a portfolio that includes Etched, zeroRISC and Standard Nuclear.

A Concentrated Thesis in a Crowded Market

Fundomo's stated focus sits specifically in deep tech and life sciences, with particular attention to artificial intelligence, computer hardware, and data and analytics, a narrower mandate than many generalist funds of comparable size. Portfolio companies like Etched, a chip startup building silicon specifically for transformer models, and Standard Nuclear, working on nuclear fuel supply chains, reflect a thesis built around capital-intensive, infrastructure-level bets rather than application-layer software, categories that typically require both longer development timelines and investors comfortable underwriting technical risk most generalist funds avoid.

Why a Founder-Led Fund Structure Can Move Faster

A fund co-founded and run by a married couple, with Nobile also actively running an operating company in Circa Technologies, is a less conventional structure than a fund built around a traditional multi-partner general partnership, but it can also mean faster decision-making on capital-intensive deals where speed and conviction matter more than committee consensus. Scaling to $500 million in assets within two years on that structure suggests LPs have been comfortable underwriting the pace and conviction of a smaller, founder-led decision-making process for this specific kind of thesis. Filing two separate vehicles, TT-002 and SA-001, on the same day rather than deploying purely out of a single flagship fund also suggests Fundomo is structuring at least some of its capital deal-by-deal, a common approach for a young, fast-scaling manager that wants the flexibility to size individual opportunities without reopening a full fund-marketing cycle every time.

Why Nine Investments Can Already Support Half a Billion in AUM

A portfolio of only nine companies supporting more than $500 million in assets under management implies an average position size well into the tens of millions of dollars, consistent with a fund that writes large, concentrated checks into capital-intensive infrastructure bets rather than spreading smaller amounts across a broad portfolio the way many seed-stage generalist funds do. That concentration cuts both ways: it lets Fundomo dedicate real underwriting depth to each individual bet, but it also means the fund's overall performance will depend heavily on how just a handful of positions play out, a return profile closer to a growth-equity fund's than a typical seed portfolio's. LPs evaluating that kind of concentration risk typically want more visibility into how a manager thinks about pro-rata rights and follow-on reserves across such a small number of holdings, since a missed follow-on opportunity on any single position carries outsized weight in a nine-company book.

What This Means for Founders

For founders building in deep tech, hardware or nuclear-adjacent infrastructure, Fundomo's rapid scale-up is a sign that capital comfortable with long development timelines and genuine technical risk remains available, even in a funding environment where many generalist investors have pulled back from capital-intensive bets in favor of faster-moving software. Founders in this category evaluating Fundomo should expect a smaller, more concentrated decision-making team than at a larger multi-partner fund, which can mean faster answers but also a narrower set of relationships to draw on for follow-on introductions, and should be prepared for the kind of large, concentrated check size that comes with being one of a small handful of active positions.

Browse the deep tech investor directory and biotech investor directory for more active funds in capital-intensive categories, read the baseline mechanics of dry powder and how a fund's general partners decide when to deploy it, or explore active capital on AngelLinx @ angellinx.ai/register.

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