Sandbox Industries

Sandbox Industries is a venture capital firm founded in 2003 by Bob Shapiro and Nick Rosa, based in Chicago, Illinois, managing approximately $1.2 billion in assets across a family of strategic corporate-backed venture funds. It combines traditional and corporate investing, partnering with over 50 corporate limited partners who provide distribution and market validation for portfolio companies. Sandbox also runs an innovation consulting business and previously operated a startup foundry, later evolving into the Excelerate accelerator, which became part of the TechStars network as TechStars Chicago. The firm serves as the exclusive venture manager for the Blue Venture Funds, a collaboration with 35 Blue Cross Blue Shield companies that have committed over $890 million across four funds, alongside Cultivian Sandbox Ventures for food and agriculture technology. Sandbox leads rounds from seed through growth, with checks ranging from $1 million to $50 million, across 214 disclosed investments including Culture Biosciences, Rula Health, and CareCentrix. Sandbox's investment approach leverages its strategic corporate limited partners to connect entrepreneurs directly with distribution channels and commercial validation, focusing on healthcare, insurance technology, sustainability, and food and agriculture as industries central to long-term societal change.