At a Glance

  • The T1D Fund, a wholly owned subsidiary of Breakthrough T1D, launches a $150 million fundraising initiative.
  • The Fund raises money from donations and then invests it in commercial enterprises working to deliver treatments and therapies for T1D.
  • This major fundraising commitment reflects the shift in cell supply research from nonprofit and academic hands, to commercial enterprise, a sign of material progress.
  • Moving forward, the Fund must keep T1D impact the priority over profit generation, even if that means taking on riskier investments.

November 11, 2025

The T1D Fund (the Fund) announced the launch of a bold new fundraising campaign with the goal of raising $150 million. This funding will be used to bolster the venture philanthropy’s investment impact, enabling “larger-scale investments in promising companies to treat, prevent, and ultimately cure T1D.”
  
To date, the Fund holds about $200 million in assets under management (AUM), all raised from donations. This additional $150 will increase the AUM to a whopping $350 million. 

The current campaign is headlined by two substantial donations. The first is a $25 million donation from parent-entity Breakthrough T1D, and the second is $12 million from the Bukhman Foundation.

This launch reflects the ongoing shift in the T1D research landscape, of commercial enterprise beginning to lead research historically driven by nonprofits. This is a good thing, as ultimately any Practical Cure for T1D will be manufactured and delivered by commercial enterprises.
 

Background of the T1D Fund

The T1D Fund was established in 2016 as a subsidiary of Breakthrough T1D. The Fund operates independently from its parent organization with a separate board of directors and executive team.  However, ultimate responsibility and authority rest with Breakthrough T1D.

The Fund employs venture capital techniques to fund early and late-stage T1D companies in exchange for equity. Currently, the Fund holds twenty-five companies in its investment portfolio. The Fund actively supports these companies through board seats and direct engagement with management. It also provides research guidance, support, and access to Breakthrough T1D’s extensive research network.

One of the most impactful attributes of the Fund is its ability to attract other investors and capital to promising T1D research. An early investment from the Fund acts as a stamp of approval on T1D companies that traditional investment firms may otherwise overlook.
 

Shift to Commercial

There are two components of a Practical Cure for T1D: A sustainable supply of insulin-producing cells and a method to protect them from the immune system. Within the last five years, starting with Semma Therapeutics’ proof of concept and sale to Vertex, cell supply has largely transitioned from nonprofits into the commercial domain.

The Fund is uniquely positioned to push cell supply across the finish line and into large-scale production. Attracting capital to these growing companies enables them to develop their technologies and advance to market with urgency. Many will not succeed, but those who do could be game changers. 

A decade ago, cell supply research was formative and exploratory. It was not of interest to most investment companies and did not offer clear commercial potential. The major funders of this research, appropriately so, were nonprofit and government sources.

This new fundraising round by the Fund reflects the shift of these therapies into the commercial arena. Capital ensures this later-stage work moves into the hands of patients as soon as possible. This is a good thing for T1D.
 

The Big Challenge: Profit vs. T1D Impact

The big challenge of the Fund is staying focused on T1D impact over profit. To date, the Fund has made a range of investments with T1D at the top of its decision-making criteria. 

Going forward, as the Fund looks to expand its reach and scope, it will invariably need to take on more high-risk investments. This is where it can make the most positive impact toward a Practical Cure—supporting smaller companies with promising technology that might have otherwise been overlooked. 

The challenge for Fund leaders is that the traditional measure of success in investing is making as much money as possible, and many will declare it a success if profitable exits outweigh losses. However, we argue the real metric is not the size of the profit but the size of the impact on a T1D cure.

JDCA hopes this is not compromised moving forward. The race to a cure is not a sprint, but a marathon, and learning is expected in early research.