# A Beginner’s Guide to Raising Capital for Long-Term Horizon Startups: The Case of Colossal Biosciences
Raising capital for a startup is a well-known concept, but what if your company’s vision is a moonshot, such as bringing back extinct species like the woolly mammoth? In this article, we will delve into the fundraising journey of [Colossal Biosciences](https://colossal.com/), the world’s first de-extinction company, to learn how they secured $225 million in funding over three rounds.
## The Journey of Colossal Biosciences
Here’s a glimpse of what you’ll find in this article:
– A mammoth fundraising undertaking
– Finding patient investors for a long-term time horizon
– World problems, Colossal long-term solutions
– Conserve and protect as part of long-term thinking
– Moonshot thinking as a founder
## A Mammoth Fundraising Undertaking
Ben Lamm, the co-founder of Colossal Biosciences, faced a unique challenge in raising capital for his pioneering venture as his company’s vision was far from traditional. Despite the unconventional nature of the venture, Colossal successfully raised $225 million over two years through Series A, B, and C rounds. The company launched with an ambitious scientific proposition but no actual scientists on staff. Ben had a good track record from his past companies, but Colossal was too big of a concept for his prior investors. This led him to focus on what he calls “the patient investor” — those who had previously supported slow-growing, pioneering ventures.
## Finding Patient Investors for a Long-Term Time Horizon
Ben Lamm’s approach to raising funds for Colossal Biosciences was to identify investors who understood the long-term vision of the company. He concentrated on having thoughtful conversations with investors about the realities of our changing world, emphasizing the critical importance of having the technology to preserve and potentially bring back pollinators and keystone species. He sought out investors like Thomas Tull, Jim Breyer, Tim Draper, and Tom Chi, who had previously supported similar slow-growing, pioneering ventures.
## World Problems, Colossal Long-Term Solutions
Colossal’s technology goes beyond bringing back extinct animals, attracting interest from various groups including In-Q-Tel, the CIA’s investment arm. The company’s ability to build technologies that engineer life in different capacities, such as securing disease, removing plastics, or cleaning up waterways, is of interest to the federal government and other governments worldwide.
## Conserve and Protect as Part of Long-Term Thinking
While Colossal’s technology is unique and niche, Ben and his team have received overwhelmingly positive feedback from the scientific community. However, concerns have been raised about whether the company’s efforts might divert funds from conservation, which is a more urgent concern than de-extinction. In response, the company is building a portfolio of conservation partnerships to help address the issue holistically and sustainably.
## Moonshot Thinking as a Founder
Ben Lamm’s journey into moonshot endeavors has been transformative and powerful. His transition to more meaningful work of deep tech proved to be more fulfilling, despite the challenges. While the journey — and finding the right investors — may be more difficult, Colossal’s work is impactful and transformative.
In conclusion, the journey of Colossal Biosciences in raising capital serves as an inspiring example for founders of long-term horizon startups. The ability to identify patient investors who understand and believe in the far-reaching vision of the company is crucial for success in fundraising efforts.
*Article is based on an interview between Nathan Beckord and Ben Lamm on an episode of Foundersuite’s [How I Raised It](https://soundcloud.com/user-2586856/how-i-raised-it-with-ben-lamm-of-colossal-biosciences?si=117e299adf134350a80cfc600e53c892&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing-i-raised-it-with-zach-coelius-of-coelius-capital?si=0895fc43faab47809605f8ddff81c3a2&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing57-how-i-raised-it-with-joe-vrankin-of-puttshack) podcast.*