Wave Function Ventures, a new deep tech-focused fund, has successfully raised $15 million to support groundbreaking startups, marking a significant milestone in the venture capital landscape.
Founded by former SpaceX Falcon 9 engineer Jamie Gull, who graduated from Stanford University in 2007 with a master’s in aeronautics, the fund is already making waves with nine early investments in cutting-edge technologies.
The Vision Behind Wave Function Ventures
This fund aims to bridge the gap between innovative deep tech ideas and market-ready solutions by providing crucial early-stage funding.
Deep tech, which includes advancements in AI, robotics, and space technology, has seen growing interest over the past decade, with funds like Beyond Next Ventures and Outsized Ventures also targeting this high-risk, high-reward sector.
A Founder's Unique Journey
Gull’s journey from working on rocket propulsion at SpaceX to launching a venture fund reflects a deep passion for solving complex engineering challenges through investment.
The $15 million raise comes at a time when global investment in deep tech is gaining momentum, as evidenced by recent funds like Hitachi Ventures’ $400 million commitment to similar verticals earlier this year.
Impact on the Startup Ecosystem
Wave Function Ventures’ focus on early-stage startups could significantly impact sectors like climate tech and biotech, where long development cycles often deter traditional investors.
Historically, deep tech investments have led to transformative technologies, such as SpaceX’s reusable rockets, which Gull himself contributed to during his tenure there.
Looking ahead, the fund’s strategy to back innovative moonshots may inspire other venture capitalists to take risks on unproven but potentially world-changing ideas.
The broader implications of this raise include a potential acceleration of technological breakthroughs in industries critical to addressing global challenges like sustainability and healthcare.
As Wave Function Ventures deploys its capital, the deep tech ecosystem could see a ripple effect, encouraging more talent and resources to flow into high-impact sectors.
With Gull at the helm, leveraging his engineering expertise and industry connections, the fund is poised to become a key player in shaping the future of innovation in 2025 and beyond.
Alfred Lee
