New $5M Deep Tech Fund Seeks to Attract University Founders and Innovators
At universities, it’s common to encounter passionate individuals determined to make a difference in the world. These young innovators may possess the optimism of youth, but they often carry groundbreaking ideas that can truly address global challenges. One such approach is being taken by Critical Venture Partners, a firm dedicated to supporting young founders who aspire to tackle pressing issues like climate change, healthcare, and economic inequality.
Critical Venture Partners: Investing in the Future
Founded by a trio of recent graduates from the University of Pennsylvania, Critical Venture Partners believes that fresh perspectives from young entrepreneurs can generate innovative solutions to complex problems. Co-founder and general partner Sam Strickberger shared insights with TechCrunch about the firm’s philosophy: “We’re the type of founder that we’d invest in — being young people, investing in other young people.”
Funding and Investments
Critical Venture Partners has successfully raised an inaugural fund of $5 million to support early-stage startups. The firm offers investments ranging from $50,000 to $250,000, with a quarter of the total fund allocated for follow-on investments. Notable limited partners include:
- Aarti Chandna, partner at Silicon Valley Social Venture Fund
- Seth Goldman, board chair of Beyond Meat
- Andrew Kaplan, partner at Bain Capital
Startup Competition and Partnerships
To attract innovative talent, Critical Venture Partners is collaborating with Yope, formerly known as Founder.org, which was established by Michael Baum, co-founder and CEO of Splunk. Together, they are launching a $100,000 startup competition to discover and support promising new ventures.
Portfolio Highlights
So far, the firm has made strategic investments in three startups:
- General Galactic: A company focused on transforming CO2 into methane.
- Mobius Industries: Specializes in recovering metals from waste materials.
- Stratagen Bio: Enhances MRI scans with quantitative data.
The Value of Youthful Innovation
Strickberger expressed the firm’s inspiration drawn from the legacy of young founders who have built large, category-defining companies. The belief that groundbreaking solutions often stem from fresh ideas is a driving force for Critical Venture Partners, which aligns with the broader trend in venture capital that increasingly favors young entrepreneurs.
As the firm continues to support young innovators, it exemplifies how optimism and fresh thinking can challenge the status quo and offer solutions to some of the world’s most pressing issues. To learn more about their mission and investment strategy, visit their official website.
For those interested in exploring further, check out National Venture Capital Association for insights into the venture capital landscape.
