On May 8, Breakthrough T1D’s International Board of Directors acted within its fiduciary responsibilities and authority under the LLC agreement governing the T1D Fund to change the composition of the board and update the LLC agreement. These changes were made to support the Fund’s mission and to ensure donor contributions and profits remain dedicated to their intended purpose. As the Fund’s sole member and parent organization, Breakthrough T1D has always held legal responsibility for ensuring appropriate governance, protecting donor resources, and keeping the Fund’s work aligned with its charitable mission.
The T1D Fund remains an integral part of Breakthrough T1D’s strategy to accelerate life-changing breakthroughs to cure, prevent, and treat type 1 diabetes (T1D) and its complications. The Fund continues to operate under the same mission, investment strategy, and venture philanthropy model established at its founding. It remains a wholly owned subsidiary of Breakthrough T1D, led by an experienced venture investment team and supported by its own Investment Committee, which evaluates opportunities through the same rigorous process that has guided the Fund since inception.
The recent governance updates are consistent with the Fund’s founding principles, maintaining strong nonprofit governance and deepening alignment between the Fund and Breakthrough T1D to reinforce the Fund’s charitable purpose as it continues to grow. These changes do not alter the Fund’s mission, investment strategy, or operating model.
Importantly, every gift to the T1D Fund remains dedicated to its charitable purpose of advancing therapies, prevention, and cures for T1D. Since inception, the Fund has realized nearly $100 million in profits from portfolio returns, and every dollar has been reinvested to support future investments in promising T1D therapies and cures.
We are grateful to the many volunteers, donors, advocates, and people living with type 1 diabetes who have dedicated themselves to this mission over many years.
We understand that governance changes can raise questions, particularly among those who care deeply about the future of the T1D Fund and Breakthrough T1D. We respect the service of former T1D Fund Board members and remain grateful for their contributions to advancing our shared mission.
Our focus remains the same as it has always been: accelerating life-changing breakthroughs for people living with T1D. Today, the Fund manages approximately $250 million in assets across nearly 30 active portfolio companies and continues to deploy capital in support of transformative therapies, including disease-modifying therapies and potential cures.
People living with T1D deserve progress, and that remains our sole focus as we move forward together.