Prime Movers Lab Launches Second Scientific Startup Fund
Investment Fund Raises $245MM to Support Dozens of Breakthrough Scientific Disruptors Ready to Transform Billions of Lives
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JACKSON, Wyo., Jan. 27, 2021 /PRNewswire/ Prime Movers Lab – an investor in breakthrough scientific startups that will revolutionize the world s most important industries and transform billions of lives – today announced it has raised $245 million for its second early-stage investment fund.
Prime Movers Lab Fund II will invest in early-stage companies reinventing human augmentation, energy, transportation, infrastructure, manufacturing and agriculture. The firm s first fund, Prime Movers Lab Fund I, a $100 million investment fund, is supporting, among other innovations, advancing sustainable food production, ending the global pandemic, providing clean energy and pioneering space infrastructure. Fund I is one of the leading early-stage fund
Prime Movers Lab raises $245 million for second fund to invest in early stage science startups
After revealing its first fund just last year, a $100 million pool of investment capital dedicated to early stage startups focusing on sustainable food development, clean energy, health innovation and new space technologies, Prime Movers Lab is back with a second fund. Prime Movers Lab Fund II is larger, with $245 million committed, but it will pursue the same investment strategy, albeit with a plan to place more bets on more companies, with an expanded investment team to help manage the funds and portfolio.
“There are a lot of VCs out there,” explained founder and general partner Dakin Sloss about the concept behind the fund. “But there aren’t many VCs that are focused exclusively on breakthrough science, or deep tech. Even though there are a couple, when you look at the proportion of capital, I think it’s something like less than 10% of capital is going to these types of compa