This former a16z partner and solo VC has backed 6 unicorns. Now he's raised $50 million to invest in hard tech. (www.businessinsider.com)

Zal Bilimoria, a former Andreessen Horowitz partner and current solo venture capitalist, has successfully raised a $50 million fifth fund for his firm, Refactor Capital, in just five phone calls. This fund increases his total assets under management to nearly $300 million, allowing him to continue his focus on investments in pre-seed and seed-stage startups. Bilimoria describes himself as a generalist hard-tech investor, with a keen interest in startups addressing significant physical-world challenges, particularly in sectors like biotech, robotics, energy, and AI infrastructure. His commitment to hard tech comes at a time when venture capital is increasingly drawn to this area, evidenced by a notable surge in funding for physical AI-related startups. Bilimoria's hands-on investment approach has earned him a reputation among founders, who affectionately call him "Better Call Zal" for his availability and support during crucial business moments. With Refactor's track record of backing six unicorns, including Solugen and Astranis, Bilimoria is proving that a focused, independent strategy can yield significant results in an evolving venture landscape.