Pathbreaker Ventures Ii, LLC
Emerging managerSEC exempt reporting adviser (venture capital exemption).
- HQ
- CA
Pathbreaker Ventures invests in specialized founders working to solve the world's hardest problems through novel hardware and software technologies. Ryan Gembala is its Founder and Managing Partner. Its portfolio spans areas such as agentic AI for heavy industry, nuclear energy systems, video streaming APIs, and space launch cost reduction.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Not stated | Not enough dated deals | Seed, Series A |
| Sectors | Not stated | Not enough dated deals | Hardware, AI applications, Enterprise SaaS, Robotics, Data analytics, Cybersecurity, Manufacturing, Healthtech, Media |
| Regions | US | Not enough dated deals | CA, MA |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 2015 | 1 | AI applications, Devtools |
| 2016 | 5 | Media, Agtech, Climate software |
| 2017 | 4 | Hardware, Manufacturing, AI applications |
| 2018 | 9 | Enterprise SaaS, Hardware, AI applications |
| 2019 | 3 | Robotics, AI applications, Healthtech |
| 2020 | 3 | AI applications, Enterprise SaaS, Hardware |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2015 | 0 | 1 | 0 | 0 | 0 |
| 2016 | 1 | 3 | 0 | 0 | 0 |
| 2017 | 0 | 1 | 2 | 0 | 0 |
| 2018 | 1 | 6 | 1 | 0 | 0 |
| 2019 | 0 | 2 | 0 | 1 | 0 |
| 2020 | 0 | 1 | 1 | 0 | 0 |
| 2021 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | 0 | 0 |
| 2025 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 0 | 0 | 0 | 0 | 0 |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Pathbreaker Ventures Fund III, L.P. Pathbreaker Ventures backs specialized founders determined to solve the world's hardest problems through novel hardware and software technologies. Its portfolio spans AI applications, nuclear energy, robotics, healthtech, and aerospace defense. Inferred from the firm's website and portfolio companies | 2024 | $18.43M (Form D) | Open, writing first checks |
| Pathbreaker Ventures Fund II, L.P. | 2019 | $26.48M to $28.35M (Form D and SEC adviser filing) | Follow-ons only |
03 · People across funds
- Ryan Gembala, Founder & Managing Partner
Pathbreaker Ventures Fund III, L.P. (Named on Form D); Pathbreaker Ventures Fund II, L.P. (Named on Form D)
- Ventures II, LLC Pathbreaker, General Partner of the Issuer
Pathbreaker Ventures Fund II, L.P. (Named on Form D)
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
- http://www.pathbreakervc.com/
- https://www.pathbreakervc.com/companies
- https://www.pathbreakervc.com/team
- https://www.pathbreakervc.com/
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026