Sandbox Industries

Sandbox Industries is a distinctive venture capital firm based in Chicago, recognized for its innovative approach to bridging the gap between emerging startups and established corporations. The firm operates through a multi-faceted model encompassing strategic venture funds, accelerators, and consulting services, aiming to provide not just capital but also invaluable strategic insights and market access. This unique structure allows Sandbox to foster innovation by aligning corporate strategic objectives with the agility and disruptive potential of startups.

A significant part of Sandbox Industries' investment activity is conducted through the management of several corporate-backed venture funds. Most notably, they manage the BlueCross BlueShield Venture Partners (BCBSVP) funds, a series of funds dedicated to investing in healthcare innovation. For instance, BCBSVP Fund IV successfully closed at $300 million in 2021, following a $250 million close for Fund III in 2018. These funds primarily target early to growth-stage companies, typically investing in Seed, Series A, and Series B rounds across sectors like healthcare, food & agriculture, and other enterprise solutions.

Sandbox Industries' investment strategy emphasizes long-term partnerships, leveraging the extensive resources and market intelligence of their corporate limited partners. Their typical first check sizes for their managed funds, such as BCBSVP, often range from $5 million to $15 million for Series A and B rounds, reflecting their commitment to substantial capital deployment in promising ventures. While they participate in a broad spectrum of early-stage investments, including seed rounds, their focus remains on companies poised for significant growth and strategic alignment with corporate partners. The firm has built a robust portfolio, having made over 100 investments and facilitated more than 20 successful exits, underscoring their impact in the venture ecosystem.