University of Pennsylvania Grads Launch $5M Fund to Back Deep Tech University Startups
- Critical Venture Partners launches $5M fund focused on university-based deep tech founders.
- Their investment checks range from $50K-$250K, targeting climate, healthcare, and economic opportunity solutions.
- It was founded by three UPenn graduates who aim to back founders similar to themselves.
A new venture capital firm is betting that university campuses are breeding grounds for the next generation of deep tech innovators.
Critical Venture Partners has launched a $5 million fund specifically targeting founders emerging from academic institutions.
Founded by three recent University of Pennsylvania graduates—Sam Strickberger, Seungkwon Son, and Max Strickberger—the firm aims to invest in young entrepreneurs tackling major global challenges in climate change, healthcare, and economic opportunity.
"We're the type of founder that we'd invest in—being young people, investing in other young people," Sam Strickberger said.
The firm offers investments ranging from $50,000 to $250,000, with 25% of the fund reserved for follow-on rounds.
Notable limited partners include Silicon Valley Social Venture Fund partner Aarti Chandna, Beyond Meat board chair Seth Goldman, and Bain Capital partner Andrew Kaplan.
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To attract promising candidates, Critical Venture Partners has partnered with Yope (formerly Founder.org) to launch a $100,000 startup competition. The accelerator was started by Splunk co-founder Michael Baum.
The firm has already invested in three startups: General Galactic (converting CO2 to methane), Mobius Industries (metal recovery from waste), and Stratagen Bio (enhancing MRI scans with quantitative data).
While the venture capital industry's obsession with youth is well-documented, Critical Venture Partners believes fresh perspectives are essential for solving entrenched problems.
Their youthful optimism may be their greatest asset in identifying truly transformative ideas.
Edited by Annette George
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