Top US Deep Tech VCs in 2024
In the dynamic realm of deep tech venture capital in the United States, a select group of firms stand out for their commitment to fostering innovation and advancing the frontier of technology. These entities are not merely sources of financial backing; they are integral partners to the pioneering startups they support. By providing both capital and guidance, these venture capitalists play a pivotal role in shaping the future of industries ranging from health tech and biotech to AI and robotics. Let’s dive deeper into the profiles of some leading deep tech VCs in the US as of 2024.
SOSV
Located in Princeton, New Jersey, SOSV has carved a niche for itself as a global venture capital firm with a keen focus on deep tech, planetary health, and human health. With an impressive $1.3 billion in assets under management and a portfolio including 8 unicorn companies, SOSV has established itself as a beacon of support and growth for startups navigating the complex waters of deep tech innovation. This firm is lauded for its active investment strategy, offering not just funding but comprehensive support including feedback, resources, and growth strategies to ensure the success of the startups in its fold.
Alumni Ventures Deep Tech Fund
The Alumni Ventures Deep Tech Fund, based in Manchester, New Hampshire, represents a potent force in the venture capital landscape, particularly known for its diversified investment portfolio centered around deep technology. Recognized as the third most active VC firm globally, Alumni Ventures stands out for its expansive operation, investing in 15 to 20 different companies each month. With more than 1,000 portfolio companies and over $1 billion raised in funds, the firm’s broad investment strategy spans from seed to late-stage ventures, offering a unique opportunity for deep tech startups seeking not just capital but a partnership for growth.
Cottonwood Technology Fund
Situated in Santa Fe, New Mexico, the Cottonwood Technology Fund specializes in investing in startups that are grounded in hard sciences and deep tech. Unique for its dedication to intellectual property-driven startups, Cottonwood eschews software, AI, apps, and pharmaceuticals in favor of enterprises based on optics, photonics, nanoelectronics, advanced materials, and robotics. The firm’s investment strategy is tailored to support inventors and innovators at the seed and Series A stages, providing both the capital and the guidance necessary to bring groundbreaking technologies to market.
Lux Capital
With its base in New York, New York, Lux Capital occupies a distinct position in the venture capital domain, targeting companies at the intersection of science and technology that dare to push the boundaries of what’s scientifically and technologically possible. Founded in 2000, Lux Capital has a rich history of investing in early-stage companies across a broad spectrum of sectors, including AI, biotech, and neuroscience. Lux’s team is comprised of industry experts with diverse backgrounds, offering startups not only funding but also deep sectoral insights and access to a valuable network.
Ocean Azul Partners
Operating out of Miami, Florida, Ocean Azul Partners has made a name for itself as an early-stage venture capital firm passionate about fostering innovation and entrepreneurship. The firm is deeply committed to supporting startup founders in developing new technologies and solutions that have the potential to transform industries and consumer behaviors. Ocean Azul is distinguished by its hands-on investment approach, actively participating in the growth journey of the companies it backs, from seed to Series A stages, ensuring they have the resources and mentorship needed to succeed.
Wavemaker Partners
Wavemaker Partners stands out for its sector-agnostic approach to venture capital, with offices in the USA and Singapore. Founded in 2003 by David Siemer, Eric Manlunas, and Paul Santos, Wavemaker has a broad investment thesis that includes consumer, deep tech & hard science, enterprise, and media. The firm’s strategy involves engaging in seed and early-stage investments, with a minimum check size of $150,000 and a maximum of $350,000. Their portfolio boasts 489 investments and 58 exits, underlining their significant impact on the venture ecosystem. With $446.5 million raised in funds, Wavemaker Partners is a critical player in the venture capital domain, fostering innovation across a diverse range of industries.
Data Collective (DCVC)
Data Collective, also known as DCVC, is a Palo Alto and San Francisco-based deep tech venture capital firm that focuses on investing in seed, series A, and growth-stage companies in the US. Founded in 2011 by Matt Ocko and Zack Bogue, DCVC is committed to driving progress in sectors such as climate & sustainability, crypto & blockchain, cybersecurity, aerospace & space, AI & ML, and more. With 469 investments and 135 exits, DCVC has a robust track record of supporting transformative companies. The firm has raised $725 million in funds, demonstrating its substantial influence and commitment to propelling the future of deep tech.
Trinity Ventures
Founded in 1986 by Noel Fenton, Trinity Ventures is an early-stage venture capital firm with a focus on cloud computing, SaaS, and technology sectors. Based in San Francisco, the firm supports startups at the seed, series A, and series B stages, offering a minimum check size of $500,000 and a maximum of $6 million. With 464 investments and 142 exits, Trinity Ventures has played a pivotal role in the growth of several successful companies. The firm has raised $2.2 billion in funds, showcasing its long-standing commitment to nurturing groundbreaking innovations and the entrepreneurs behind them.
These venture capital firms represent just a fraction of the vibrant ecosystem supporting deep tech startups in the United States. Through their financial investments and strategic partnerships, they are at the forefront of bringing revolutionary technologies and scientific advancements from concept to commercialization. As the deep tech sector continues to evolve, the role of such VCs will be increasingly pivotal in shaping a future where innovative solutions address some of the most pressing challenges of our time.
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