If you're building in biomanufacturing and looking for someone to lead your round, look no further than Jonathan Mercado.
He drives the thesis at
@FirstBight Ventures, a fund that leads seed through Series A, takes board seats, and is about as founder friendly as investors get.
First Bight is a Houston fund that invests at the hardest point in industrial biotech: right after proof of concept, right before commercial scale. That's the stretch where great science runs out of runway. It writes checks from $100K to $5M, and its first fund backed seven biomanufacturing companies across chemicals, materials, food ingredients, agriculture, and energy.
The thesis is built on studying failure. First Bight's "Industrial Biomanufacturing Graveyard" report looked at 30 failed biomanufacturing ventures and found that more than 80% didn't fail on the technology. They picked the wrong market, underestimated what it costs to sell, or assumed customers would switch. Jonathan's version is simple: in this space, the science is rarely the bottleneck. Asset selection and go-to-market strategy are.
In 2027 he joins us at
@SynBioBeta as a speaker.
What the First Bight portfolio has been up to:
- Led the $5M seed round for
@Algenesis_, which makes plant-based, biodegradable materials
- Backing
@Visolis3,
@iMicrobesInc,
@CapraBio,
@PersephoneBio,
@r2dio, and VIA Biofuels
- Three portfolio companies, Visolis, Industrial Microbes, and Algenesis, landed a combined $5.25M from the Department of Defense's Distributed Bioindustrial Manufacturing Program
- Launched BioWell, a Houston bioindustrial accelerator, which took over a 33,000 square foot pilot plant in Richmond, Texas, to give startups real fermentation capacity
Jonathan came to venture the long way, through the bench and the tools business:
-
@bcmhouston, where he earned his PhD in molecular and cell biology (2015-2020), after undergrad at
@UTAustin
- IsoPlexis (2021-2023), the single-cell proteomics company whose platform measured what individual immune cells secrete. He was its "single-cell evangelist," working with researchers and partners on translational projects, through IsoPlexis' 2023 merger with Berkeley Lights
-
@brukercellular (2023), after Bruker acquired the combined company, managing scientific alliances
- First Bight Ventures (2023-present), starting as an associate and now a principal, sourcing, evaluating, and supporting early-stage biomanufacturing companies
This year he wants to talk about something founders rarely hear from investors: how to fund early biomanufacturing through revenue-generating partner projects instead of another dilutive round. He wants to be the investor a founder calls last, after the decks are done, when the question is what to build and who will actually buy it.
If you're building in chemicals, materials, ingredients, or ag and trying to cross the gap from pilot to plant, Jonathan is the person to find.
Come find him in San Jose, May 3-6th.