Deep Tech

Fund IV will invest in early-stage science-driven companies.

J2 Ventures, a Boston-based deep tech venture firm, has raised $150 million for its second fund, beating its target by $30 million.

The fund is backed by 24 NATO allies.

'We did have indications that the fundraise could close at over $400 million right up until the crash of Silicon Valley Bank in March of 2023,' says founder Sean O’Sullivan.

Floating Point, which was targeting $100 million for its sophomore fund, has held a final close on $70 million.

LPs in Fund II, which is targeting €200m, include returning LPs Fonds National d’Amorçage 2 and former Berkshire Partners managing director Bradley Bloom.

Matter Venture Partners, a new firm started by two Kleiner Perkins vets, has closed on $300m for its debut, or $100m more than planned.

The Houston-based firm has raised over $100m for its debut fund to invest in deep tech companies.

The fund will focus on early-stage Israeli start-ups.