Prebys Ventures

Prebys Ventures is the venture capital arm of the Conrad Prebys Foundation, established to drive innovation and economic growth within the San Diego region. Launched in 2025 with a $50 million fund, it focuses on investing in early and growth-stage technology and healthcare companies based in San Diego. The fund aims to address a critical resource gap in the local innovation ecosystem by partnering with leading venture firms and leveraging a robust network of domain experts and exited CEOs.

The fund operates with a unique financial model that reinvests returns back into the San Diego economy to create a sustainable, perpetually growing investment vehicle. Prebys Ventures seeks to support companies with a venture-capital growth model, typically investing between $500,000 and $2 million per round, and often taking board observer seats to actively support portfolio companies through strategic guidance and network access.

Prebys Ventures is led by Managing Director Mike Krenn, a seasoned San Diego innovation community leader with a track record of raising over $800 million for regional startups. The fund’s mission is to fuel lasting economic opportunity and a thriving San Diego community by investing in companies that align with the foundation’s focus on health, research, and innovation, thereby strengthening San Diego’s position as a global innovation hub.