A new venture capital collaborative is launching in Boston, focused on accelerating and supporting technology innovations that address significant global challenges.
Ven^x’s founding firms include Anzu Partners, Hitachi Ventures, Myriad Venture Partners, SkyRiver Ventures, and real estate consulting firm The Steele Group.
The group is billing ven^x as the first deep tech venture capital collaborative.
“Deep tech” refers to technology that is making significant advances in the scientific or engineering field. It’s the opposite of “shallow tech,” which refers to smaller advances that tend to be more focused on end-user experiences. Examples of deep tech are robotics, artificial intelligence, quantum computing, and machine learning.
The hub is meant to be a place for knowledge sharing to further innovation and syndication, according to the collaboration’s website.
“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,” Hyuk-Jeen Suh, General Partner at SkyRiver Ventures, said in a Tuesday news release.
Ven^x will offer shared office space to its members in Downtown Boston at 125 High Street, and is inviting area tech startups and VC firms to join.
Ven^x was founded because deep tech startups “face a number of challenges that cannot simply be solved with capital alone,” Anzu Partners partner John Ho said. The collaborative aims to pair entrepreneurs with resources that better position them for success.
The collaborative aims to leverage the VC and university presence in Boston, according to the release.
“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 ven^x to foster partnerships to nurture growth in the deep tech community.”
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