BOSTON--(BUSINESS WIRE)--Today, a group of venture capital firms has launched venx (ven^x), a hub in downtown Boston for venture capital firms to collaborate, share knowledge, and build synergies to become a force multiplier for the deep tech ecosystem. The founding venture firms include Anzu Partners, Hitachi Ventures, Myriad Venture Partners, SkyRiver Ventures, along with the real estate consulting firm The Steele Group. Each firm has a strong connection to Boston’s deep tech heritage and well-regarded universities that regularly spin out innovative deep tech startups, companies built upon scientific or engineering breakthroughs. venx firms will have access to a shared office where they can collaborate day-to-day, host events for the local startup community, and bring other local firms into the fold.
Traditionally, deep tech startups are undertaking paradigm-shifting, cutting edge technologies to tackle some of the most significant global issues. Funding and enabling partnerships to accelerate the development of such technologies are critical for the success of deep tech startups.
“Many of the world’s greatest challenges including climate change, global health and wellness, and the transition to green energy require the development of disruptive core technologies, new materials, and AI. None of these is possible without investment in breakthrough science and physical technologies,” said Hyuk-Jeen Suh, General Partner at SkyRiver Ventures. “Deep tech startups often start at universities, get funded by venture capital, and scale through industry partnerships. We are excited to collaborate with other like-minded firms within venx to foster partnerships to nurture growth in the deep tech community.”
The founding firms of venx are creating a supportive deep tech VC ecosystem where both startups and firms can leverage each other’s unique expertise to access a larger pool of capital for future investments and to foster the right connections to grow their business.
"Corporations across industries are seeking solutions to reduce their carbon footprint, yet they grapple with a daunting reality: the tools for achieving this goal are still nascent, or in some cases non-existent," asserted Tim Chiang, Co-founder and Partner at Myriad Venture Partners. “Through venx, our collaborative platform with like-minded venture funds, we're not only fostering meaningful dialogues, but also investing in visionary founders pioneering the critical innovations necessary to decarbonize even the most difficult to abate sectors."
“Deep tech entrepreneurs face a number of challenges that cannot simply be solved with capital alone. Finding the right investors can help companies to focus on what matters most in the early innings - de-risking their technology and establishing product-market fit,” said John Ho, Partner at Anzu Partners. “Each of the ven^x firms bring their own set of perspectives, connections, and expertise to help deep tech founders tackle those challenges, and I’m excited to collaborate with my fellow venx-ers to amplify our impact on the deep tech community.”
venx welcomes deep tech startups and other venture capital firms interested in being a part of the community. To learn more, please contact one of the venx member firms.
About venx (ven^x)
venx is a venture capital hub based in Boston with the mission of connecting and growing the deep tech ecosystem. venx is dedicated to fostering collaboration and connectivity within the venture capital community and aims to bridge the gap between visionary investors and groundbreaking deep tech startups. Each of the firms brings unique ideas, industry expertise, and opportunities to strengthen the growing network.
About Anzu Partners
Anzu Partners is an investment firm that focuses on clean tech, industrial and life science technology companies with the potential to transform their industries. Anzu works with entrepreneurs to develop and commercialize technological innovations by providing capital alongside deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit anzupartners.com.
About Hitachi Ventures
Hitachi Ventures is the corporate venture capital arm of Hitachi. With $600 million in AUM, we invest in early and growth-stage technology companies that align with Hitachi's core industries and long-term vision. Leveraging our global network and industry expertise, we empower innovative startups to disrupt markets and transform industries, fostering positive societal impact. For more information on Hitachi Ventures, please visit the company’s website at: https://www.hitachi-ventures.com.
About Myriad Venture Partners
Myriad Venture Partners is an early-stage venture firm focused on shaping the next generation of business solutions. Myriad brings decades of expertise and a robust corporate and financial partnership network to support world-class entrepreneurs. The firm is dedicated to investing in AI, clean technology and B2B software businesses.
About SkyRiver Ventures
SkyRiver Ventures is a leading deep tech venture capital firm focused on investing in early stage cutting edge technologies. SkyRiver seeks talented entrepreneurs in the beginning stages of technology development with a vision to positively impact the world. The partners play an active role in supporting companies throughout their development from regionally focused startups to global tech companies. If you would like to learn more, please visit www.skyriverventures.com.
About The Steele Group
The Steele Group provides full-life cycle commercial real estate solutions for the world’s most innovative organizations around the US and internationally. From strategic master planning to tenant consulting, incentives, capital markets and project management - The Steele Group enables its early-growth stage deep tech clients to scale up from prototyping to R&D, and pilot to commercial stage manufacturing.
