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New deep tech fund Wave Function Ventures raises $15 million
Jamie Gull has launched Wave Function Ventures, a $15 million deep tech fund. With investments in fields like nuclear energy and robotics, Gull aims to make 25 seed investments. His venture comes as deep tech funding gains momentum, reflecting a broader trend in aerospace and defense as seen with other funds like Leitmotif, which raised $300 million earlier this year.
Key points
- Jamie Gull, a Stanford graduate and aerospace engineer, launches Wave Function Ventures.
- The fund has raised $15.1 million and focuses on deep tech startups in various industries.
- Gull's history includes roles at Scaled Composites and SpaceX, where he contributed to the reusability of the Falcon 9 rocket.
- Wave Function plans to make around 25 seed or pre-seed investments.
- The rise of deep tech funding is driven by increased interest in sectors like aerospace and defense.
Why it matters
- The increasing trend in deep tech investments reflects a growing recognition of the importance of innovative hardware and manufacturing.
- Leitmotif's recent $300 million funding mirrors the market's demand and support for deep tech startups.
- Historical context: The aerospace sector has seen significant transformation, particularly with private companies advancing rapidly in recent years.
Gull's Wave Function Ventures is entering a thriving deep tech investment landscape, positioning itself to capitalize on significant future returns in an industry poised for expansion.