Material Impact, a Boston, MA-based deep tech venture capital firm, closed its third fund, at $352M.
University endowments, foundations, family offices, and fund-of-funds joined existing Limited Partners from Fund I and Fund II.
The fund will continue the firm’s strategy of investing in deep tech companies powered by material science innovation.
Fund III anchors on the following set of beliefs:
- Chosen founders and technologies are solving large-scale, real-world problems.
- Material science innovation is behind all ideas that matter.
- The team members do everything to help founders succeed.
Co-Founded by Managing Partners Adam Sharkawy and Carmichael Roberts, Material Impact has invested in thirty startups, spanning industries such as Food & Water, Sustainable Manufacturing, Transportation & Mobility, Underrepresented Healthcare, Biomanufacturing & Sustainable Products, Robotics, AI & AR and Data Storage & Security.
Several portfolio companies were created from academic research and spun out of universities. The firm recently launched the Materialize New York accelerator as a way to formally engage the academic ecosystem and help take advanced technologies from the academic lab to startup formation.
The team recently expanded with Operating Partners Paul Deninger and Mark Little. In addition, Former Congressman Joe Kennedy III and Theresa Peterson came on board as Senior Advisors.