Necessary Ventures invests in "what the world needs" — "necessary companies" with authentic, articulable mission-based narratives that address fundamental problems rather than gratuitous ones. Founded by Neil Devani, the firm leads $1-2M pre-seed rounds (and invests non-lead from pre-seed to pre-IPO) across deep tech, hard tech, and AI tackling challenges in healthcare, reindustrialization, climate, financial services, and education. Its core conviction is that a genuine mission is an operating and financing advantage: it helps founders out-compete the market for talent, capital, and attention.
Companies aimed at a fundamental, necessary problem the world needs solved — not a gratuitous or optional one. The firm's entire framing is investing in 'what the world needs.'
“We invest in what the world needs.” — Necessary Ventures — what we back
“At Necessary Ventures, he backs deep tech, hard tech, and AI companies tackling fundamental challenges across healthcare, reindustrialization, climate, financial services, and education.” — Neil Devani
“In standard drug development pipelines, a human visually analyzes slides of cell tissue to see the effect of a test compound on healthy vs. diseased tissue. This takes time and is prone to error.” — Neil Devani
“we like multi-indication assets and indications with significant unmet need.” — What we're looking for in biotech and techbio
A differentiated technical approach — ideally a robust computational platform paired with scaled physical/wet-lab systems that are demonstrably more efficient than competitors, often a self-iterating model.
“Scaled wet lab systems that have demonstrated increased efficiency over competitors.” — What we're looking for in biotech and techbio
“Robust computational platforms” — AI, Assays & Assets: What We're Backing in Biotech
“we are particularly interested in companies with self-informed models, such as a self-informed protein design platform where the model is an autonomous cycle of prediction, testing, feedback, and optimization.” — What we're looking for in biotech and techbio
“Recursion gives this task to a machine, enabling the study of many more combinations of tissues and compounds with less error.” — Neil Devani
Large, universal markets and assets that can serve many indications or many users — multi-indication platforms and chemicals/technologies used everywhere.
“we like multi-indication assets and indications with significant unmet need.” — What we're looking for in biotech and techbio
“As Solugen begins licensing their technology, they will benefit a much larger set of hydrogen peroxide users around the world.” — Neil Devani
“With over thirty drug candidates across more than twenty diseases, it's safe to say the technology is working.” — Neil Devani
Quality, informative data that provides proof of concept — wet-lab or, in some cases, computationally generated — and validated hits or a working platform demonstrated across multiple uses.
“We expect data sets to provide proof of concept, whether it be wet lab data only or, in certain instances, additional computationally generated data.” — What we're looking for in biotech and techbio
“With over thirty drug candidates across more than twenty diseases, it's safe to say the technology is working.” — Neil Devani
A balanced founding team with both deep technical/scientific expertise and business-development/dealmaking ability — plus an authentic mission they can use to recruit and retain great people.
“a founding team that has the required skills and experience on both the science/drug discovery side as well as the business development/dealmaking side.” — What we're looking for in biotech and techbio
“We help founders leverage their missions to find and keep great talent.” — Necessary Ventures — what we back
A credible path to near-term revenue — e.g., early partnership/licensing deals from validated hits — alongside the ability to raise non-dilutive and strategic capital using the mission.
“teams that generate enough validated hits can and should pursue early partnership or licensing deals to create near-term revenue that can support the development of independent programs” — What we're looking for in biotech and techbio
“Venture capital is expensive. We show founders how to use their missions to raise non-dilutive and strategic capital.” — Necessary Ventures — what we back
“The ability to use locally available raw materials creates a new and exciting leverage point in the supply chain and unit economics for this universally used chemical.” — Neil Devani
Demonstrated, measurable advantage over incumbents and rivals — systems proven more efficient than competitors — and a defensible flywheel that compounds with proprietary data.
“Scaled wet lab systems that have demonstrated increased efficiency over competitors.” — What we're looking for in biotech and techbio
“AI/ML technologies that advance the protein discovery flywheel” — AI, Assays & Assets: What We're Backing in Biotech
A genuine technological inflection — AI/ML, big data, and robotics making previously impossible or uneconomic problems newly tractable, especially capital-intensive, long-timeline ventures.
“TechBio is a real thing and heralds a new age for the industry, e.g., using advanced computational approaches such as AI/ML, big data analytics, and robotics to drive drug discovery and development.” — What we're looking for in biotech and techbio
“AI is opening the door for startups tackling problems that VCs historically avoided because timelines were too long or capital intensity too high.” — Venture is in its comeback era.
“software and hardware are both dramatically altering the drug discovery landscape.” — AI, Assays & Assets: What We're Backing in Biotech
“Even in an unstable policy environment, it's clear that VCs are still betting on the U.S. to lead the world's next wave of AI innovation.” — The U.S. raised $69B for AI. Still think it's over?
Fit for a lead $1-2M pre-seed (the firm leads at this stage and also follows on), paired with an authentic, articulable mission the founder can use to raise capital and attention beyond the round.
“We lead $1-2M pre-seeds and also invest non-lead from pre-seed to pre-IPO.” — Necessary Ventures — what we back
“Our earned and owned media networks help founders supercharge their growth.” — Necessary Ventures — what we back
“At Necessary Ventures, he backs deep tech, hard tech, and AI companies tackling fundamental challenges across healthcare, reindustrialization, climate, financial services, and education.”