Endowments for Harvard and Princeton have participated in Material Impact’s second fund, which closed at $200m after being oversubscribed.
Material Impact, a US-based venture capital firm with a keen interest in spinouts, has closed its second fund at $200m with limited partners including several university endowments.
Only the endowments of Harvard and Princeton universities were identified by Forbes as limited partners, while Material Impact said in its announcement the roster of investors also included family offices, foundations and fund-of-funds.
Material Impact was founded in 2015 to invest in material science technologies with potential applications in industries including clean energy, the supply of food and water, transportation, healthcare and industrial productivity.
Its $110m first fund, closed in 2018, attracted a range of unnamed university endowments, fund-of-funds, foundations and family offices.
The firm proceeded to invest in more than half a dozen spinouts, most recently doubling down on its commitment to Zero Waste Water by taking part in a $50m series C1 round this week…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
