SOSV, a multi-stage deep tech venture capital firm, on Tuesday announced the closing of the $306 million SOSV V Fund, the Princeton-based firm's largest fund to date.
SOSV V will focus on deep tech startups in human and planetary health, with an emphasis on the intertwined imperatives of decarbonization and reindustrialization.
“SOSV, Deep Tech's first check-in, represents the beginning of a journey for hundreds of Deep Tech founders,” said Sean O'Sullivan, Founding and Managing General Partner of SOSV. “We would like to thank the dedicated support of many of the world’s leading family offices and corporations in supporting SOSV V, enabling the creation of the most innovative climate change and human health startup on the planet. By partnering with Stage funds, for every $100 million we invest, an additional $2 billion will flow into these companies. This new fund will make a huge positive difference for humanity. .”
SOSV makes approximately 200 investments annually, starting with pre-seed, when companies participate in HAX and IndieBio development programs, and continuing through Seed, A, and subsequent stages.
SOSV operates startup program facilities in Newark, New York City, and San Francisco, and graduates approximately 80 startups annually.
SOSV V's limited partners include corporations, sovereign wealth funds, institutional investors and private family offices from around the world.
SOSV's HAX and IndieBio programs are widely known as startup launches for early-stage institutional investors. Active deep tech co-investors in SOSV portfolio companies welcomed the news of SOSV V.
DCVC co-founders and managing partners Matt Okko and Zachary Borg said, “The fight against poverty, social disruption, and loss of life due to climate change is the key to maintaining resilience and achieving prosperity for all.” “It's an existential battle to protect the world.” “We are partnering in the SOSV decarbonization consortium not only because they are fellow deep tech investors, but also because they, like us, want to decarbonize without stripping. SOSV V brings power and expertise to this fight.”
“At Khosla Ventures, we often start our work at Seed and Series A, partnering with great teams who are solving big, important problems using unique and innovative technologies.” said partner Alex Morgan. “We have really enjoyed working with SOSV, including on the HAX program and the IndieBio program, and are pleased that SOSV has closed Fund V. We've teamed up to support some exciting companies working on climate, food, Prellis, Oobli, Vertical Oceans, and more to come.”
SOSV has invested more than $30 million in facilities and equipment to help deep tech founders develop their technology and de-risk. In the past 18 months, SOSV has opened two new spaces (IndieBio New York at 7 Penn Plaza and HAX in Newark) with $25 million in grants each from Empire State Development and the New Jersey Economic Development Authority. We also relocated and expanded IndieBio San. Francisco's place.
Together, these new locations will provide the founders with 80,000 square feet of workspace, including a BSL 1 and 2 wet lab, chemistry lab, mechanical and electrical engineering lab, machine shop, industrial-grade 3D printers, and more. Masu.
