J2 Ventures, a deep tech venture capital fund focused on new technologies that are critical for the private sector and national security interests of the U.S. and its allies, announced it has raised $150 million for its new Argonne Fund. This oversubscribed fund, majority veteran-owned and led, is more than double its last fund size with support from some of the largest financial institutions in the world, including JP Morgan, MetLife, and the New Mexico State Investment Council.
This new capital enables J2 Ventures to further invest in startups poised for growth with government collaborations, utilizing technologies that optimize outsized returns with minimal correlation to traditional markets. And J2 Ventures specializes in Advanced Computing, Cybersecurity, Telecom / Infrastructure, and Healthcare startups and helps them win funding and contracts from the military and other branches of government to better scale frontier technology products for their markets.
The firm invested in over 25 companies often drawing coinvestment from traditional generalist top performing venture capital funds and outperforming companies like Aalyria, Micron Biomedical and Lumia Health where J2 Ventures is the only institutional financial capital.
J2 Ventures raised the $68 million inaugural fund in 2021 and the team is composed of seasoned professionals with deep experience across healthcare, science, technology, and defense, making them uniquely positioned to lead and invest in dual-use technology ventures having advised on $3+ billion of Department of Defense contracts to startups previously.
KEY QUOTES:
“It is an honor to continue and significantly grow the impact we are having at J2 Ventures with our latest fund. The growth of our portfolio, doubling down of existing LPs and attraction of some of the most sophisticated institutional investors as well is a great confidence boost that there is not only appetite for our model, but a strong and rapidly growing interest. We are truly just getting started.”
– Alexander Harstrick, Managing Partner of J2 Ventures
“J2 Ventures is a special team doing fantastic work in the places that I know first hand need innovation now more than ever. I told the team I would only join if their intent was to swing for the fences, find solutions for the hardest challenges and strive for durable change by bringing best in class capabilities to our men and women in uniform. I have not been disappointed, J2 Ventures has done more than hold up their end of the deal.”
– Raquel Bono, MD, Advisor to J2 Ventures and Former Director of the Defense Health Agency
