Deep Tech

With Rice University’s Office of Innovation as an anchor investor in the fund, the firm will continue to invest the majority of its capital in start-ups from the Princeton University ecosystem.

The Boston-based venture firm invests primarily in deep tech, energy and AI, with a focus on lowering carbon emissions.

Limited partners in the debut fund include such institutional investors as Cendana Capital and Isomer Capital, Lucca and Stella Norton’s family office and partners at Concept Ventures and Credo Ventures.

Limited partners in the Tel Aviv firm’s previous growth funds include Altschuler Shaham, Clal Insurance Enterprise Holdings, pension fund New Mivtachim, and fund of funds Cendana Capital.

The solo-GP-led firm invests in the earliest stages of companies operating in 'critical deep tech sectors.'

The fund plans to invest in 15-20 pre-seed through Series A companies, about 80% of which will be venture-backed.

The ongoing shift from big, expensive military assets like battleships and fighter jets to smaller, more agile and less costly ones positions Anduril and other venture-backed companies to win more government and commercial contracts and draw more capital from investors.

Family offices are key venture-stage investors in defense-related technology as other LPs explore their options.

Mismatched valuation expectations are impeding defense tech acquisitions.