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Additional Ventures Foundation
Additional Ventures Foundation launched in 2020, created by Mike Schroepfer, the former CTO of Meta, and Erin Hoffmann. The foundation's endowment originates...
Additional Ventures Foundation
Additional Ventures Foundation launched in 2020, created by Mike Schroepfer, the former CTO of Meta, and Erin Hoffmann. The foundation's endowment originates from Schroepfer's technology career, applying a venture-inspired speed to nonprofit biomedical research. The team operates from a single office on Lytton Avenue in Palo Alto, California. The foundation directs virtually all its resources toward a single medical mission: eradicating single ventricle heart disease. Its strategy blends transformative research funding with strategic investments and community coordination, favoring agile capital deployment that can unlock faster, better science. Geographic focus is primarily domestic, centered on U.S.-based research institutions, though collaborative funding networks like The Audacious Project extend its reach. Co-investment relationships link the foundation to entities in the Schroepfer orbit, including the Chan Zuckerberg Initiative and the CZI Biohub, where Schroepfer is a board member. With an estimated $150 million in assets, the foundation operates as a lean philanthropic vehicle. Structurally, it separates its core mission from related initiatives founded by its principals, including the Carbon to Sea Initiative and Outlier Projects, which pursue climate and other philanthropic goals independently. The Audacious Project lists Additional Ventures as a collaborative funding partner, signaling participation in pooled philanthropic vehicles designed to back bold ideas at scale. A structural differentiator is the foundation's direct connection to a major Silicon Valley operating executive and CZI governance. This dual link creates an unusual alignment between a tightly focused medical research foundation, the Chan Zuckerberg Biohub network, and the broader tech philanthropy ecosystem, giving Additional Ventures access to shared service providers and scientific networks that most single-disease foundations cannot replicate.
General information
Firm type
Venture Capital
Year founded
2020
Location
Region
North America
Country
United States
City
Palo Alto
Corporate office
Palo Alto, CA, United States
Principals
Erin Hoffmann
Executive Chairman and Co-Founder
Mike Schroepfer
Founder
Frequently asked questions
Who runs investment and grant decisions at Additional Ventures Foundation?
Co-founders Mike Schroepfer and Erin Hoffmann set the foundation's strategic direction. Schroepfer, the former CTO of Meta, brings deep technology networks, while Hoffmann serves as Executive Chairman. The foundation's lean structure suggests a concentrated decision-making process driven by the principals rather than a large investment committee.
How does Additional Ventures source its research opportunities?
The foundation focuses on catalytic collaboration within the single ventricle heart disease community. It does not accept unsolicited proposals in the traditional sense; instead, it proactively identifies and funds transformative research. Its relationship with entities like the Chan Zuckerberg Biohub and The Audacious Project provides additional scientific and philanthropic deal flow.
Is Additional Ventures a single family office or a traditional medical foundation?
It is a tax-exempt nonprofit foundation funded by the personal wealth of Mike Schroepfer, structured to operate like a venture philanthropy organization. Unlike grant-making generalists, it funnels nearly all assets into a single disease area with the speed and risk tolerance more typical of a technology investor than a legacy foundation.
Does Additional Ventures co-invest alongside other funders?
Yes. It acts as a collaborative funding partner with The Audacious Project, a philanthropic collective that bundles large-scale grants. Additionally, overlapping board memberships and shared service providers link Additional Ventures to the Chan Zuckerberg Initiative and CZI Biohub, creating a de facto co-investment network for biomedical research.
How is Additional Ventures related to the Carbon to Sea Initiative and Outlier Projects?
Both are separate entities founded by Mike Schroepfer. The Carbon to Sea Initiative focuses on ocean-based carbon dioxide removal, while Outlier Projects pursues other philanthropic work. They are structurally independent from Additional Ventures Foundation, which remains singularly focused on single ventricle heart disease, though they share a common founder and wealth source.
What investment stages or research phases does Additional Ventures target?
The foundation deploys flexible, agile funding meant to accelerate science that is too early or risky for traditional government grants. It targets transformative research across the translational spectrum, from basic biology through clinical application, with an emphasis on breaking bottlenecks specific to the single ventricle community.
Where does the underlying wealth for the foundation come from?
The endowment originates from Mike Schroepfer's tenure as Chief Technology Officer of Meta, formerly Facebook. He joined the company in 2008 and became CTO in 2013, accumulating significant equity during a period of massive growth before transitioning to a Senior Fellow role and founding Additional Ventures.
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