MFV Partners, a deep technology venture capital firm, announced the launch of Harper Court Ventures Fund I, a new $25 million early-stage fund focused on identifying, investing in, and scaling transformative startups from the University of Chicago ecosystem. Harper Court Ventures Fund I will focus on pre-seed and seed-stage companies that utilize breakthrough research and innovation originating from UChicago labs, the Polsky Center for Entrepreneurship and Innovation’s comprehensive programs, faculty and student ventures, and the extensive UChicago alumni network.
MFV Partners independently manages this fund, has a formal and exclusive cooperation agreement with the University, and aims to bring MFV Partners’ proven investment approaches and portfolio support to these early-stage ventures. The fund will target companies in high-impact sectors, including quantum computing, life sciences, energy, and artificial intelligence.
Harper Court Ventures looks to back visionary entrepreneurs with deep domain expertise and unique, often patented, technology poised to create or lead new categories in large markets. The fund plans to back approximately 40 startups over the next three years. The investors in the fund include the UChicago Endowment and several members of the University’s Board of Trustees, including Andy Alper, Ken Jacobs, Ashley Duchossois Joyce, Rachel Kohler, Michael Polsky, Emmanuel Roman, Donald Wilson, among others.
The fund has already made initial investments in three promising UChicago-related companies:
1.) Flow Medical – Founded by physicians from the UChicago Medical Center and led by a Chicago Booth alumnus, Flow Medical is developing a next-generation catheter-based therapy to treat acute pulmonary embolism.
2.) SimCare AI – Launched and led by former University of Chicago students, SimCare AI is developing a safe and scalable platform for clinical skills training and evaluation using realistic AI-generated patient conversations.
3.) Beacon – Founded and led by a Chicago Booth alum, Beacon is reimagining real-time illness prevention with groundbreaking, people-safe technology that eliminates viruses, bacteria, and molds from air and surfaces.
MFV Partners, launched in 2018 and based in Silicon Valley, has a track record of investing in early-stage deep tech startups that have become category leaders, including companies in quantum computing, robotics, AI, and energy and climate technologies. And Karthee Madasamy, a University of Chicago Booth School of Business alum, leads the MFV team, bringing decades of experience in technology leadership and deep tech investing with many successful exits.
The university’s ecosystem features more than 160 interdisciplinary institutes and centers, 50 state-of-the-art core facilities, and 101 affiliated Nobel laureates. And it is also home to a world-renowned business school and is the steward of two U.S. Department of Energy National Labs, Argonne National Laboratory and Fermi National Accelerator Laboratory.
The Harper Court Ventures team will work closely with leadership at the University’s Polsky Center for Entrepreneurship and Innovation to identify promising startups.
KEY QUOTES:
“Through this partnership, we aim to cement Chicago’s position as a deep tech hub in the Midwest by bringing our proven approaches to early-stage ventures in the University of Chicago’s ecosystem. Our collective strength will add to the University’s globally recognized leadership position in research and benefit society by scaling promising ventures to commercial success.”
Madasamy, Managing Partner, MFV Partners
“We are pleased to have a new partner in Harper Court Ventures. Their support stands to provide strong momentum to the University’s efforts to translate the most high-potential deep tech ideas into real-world applications – and to enhance the potential of achieving breakthroughs to shape the future in service to society.”
University of Chicago President Paul Alivisatos
“As a deep tech startup founder, I know how difficult it can be to raise early-stage capital, without which even the best ideas can stall. The launch of Harper Court Ventures will help ensure innovations in the University of Chicago ecosystem have the best chance of succeeding – giving entrepreneurs the runway needed to hit key milestones and accelerate their path to market. This announcement is testament to the collaboration and power of the University and Chicago Booth network and the work happening here across the quantum, AI, clean energy, and life sciences spaces.”
Samir Mayekar, Managing Director of the Polsky Center
