What is the story about?
What's Happening?
Wave Function Ventures, a new deep tech fund, has raised $15.1 million to invest in early-stage startups across various industries, including nuclear energy, robotics, and aerospace. Founded by Jamie Gull, a former SpaceX engineer, the fund aims to support innovative technologies with the potential for significant impact. The fund's emergence reflects a growing interest in deep tech, driven by advancements in fields like aerospace and defense.
Why It's Important?
The launch of Wave Function Ventures highlights the increasing focus on deep tech as a key area for investment and innovation. By supporting startups in this space, the fund could drive technological advancements and create new opportunities for growth and development. The emphasis on deep tech aligns with broader trends in venture capital, where investors are seeking to back transformative technologies with long-term potential.
What's Next?
Wave Function Ventures plans to make approximately 25 seed or pre-seed investments, fostering the growth of promising startups. The fund's success could attract additional investors and encourage the formation of similar funds, further boosting the deep tech ecosystem. As the supported startups develop and commercialize their technologies, they may contribute to significant advancements in their respective industries, shaping the future of innovation.
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