Gates-backed MetaVC Partners raises $62m for debut fund
Gates-backed MetaVC Partners raises $62m for debut fund
MetaVC Partners, which is backed by Bill Gates, has closed on $62 million for its debut fund to invest in start-ups working with new advanced materials.
Besides Gates Frontier, Microsoft co-founder Bill Gates’ investment fund, investors in the debut fund include Corning Inc and JSR Corporation. Nathan Myhrvold, formerly chief technology officer for Microsoft, is also an LP, along with two other investors whose names have not been disclosed, the Wall Street Journal reported.
The San Francisco-based firm was co-founded in 2020 by managing partners Chris Alliegro and Conrad Burke. Alliegro, based in Seattle, most recently was managing director of the Invention Science Fund, following eight years as managing director of the Invention Development Fund and 14 years as an executive at Microsoft. Burke, based in San Francisco, previously founded and was chief executive of energy materials start-up Innovalight, which was acquired by DuPont, and was a venture partner at Sevin Rosen Funds and Invention Science Fund.
“We’re delighted to help support innovation advancements in the exciting new area of metamaterials through our recent venture capital investment,” Corning executive vice-president Marty Curran said in a statement. “Corning’s capabilities and optimized precision glass products complement MetaVC’s investment opportunities related to breakthrough products in consumer electronics, 5G communications, automotive and clean energy.”
MetaVC invests in so-called ‘metamaterials,’ which are manufactured materials used in high-performance and energy-efficient products in computing, imaging, wireless communications and sensors. The firm’s investments include Lumotive, a producer of scanning sensors for anti-collision systems and consumer electronics applications, and Imagia, a creator of flat-optical lens technologies used in AR/VR headsets and other consumer electronics products.
Source: Venture Capital Journal
Mercury Expands Fundraising Capabilities with Appointment of Jeff Davis as Partner, Origination & Project Management
-Mercury Capital Advisors, a leading global placement and advisory firm and a subsidiary of Investcorp, today announced that Jeff Davis has joined the Firm as a Partner based in New…
Capitol Meridian Partners Raises $900 Million for First Fund; Hits Hard Cap
Founder-friendly Capitol Meridian Partners invests in companies at the nexus of government and commercial markets Capitol Meridian Partners (CMP), a Washington, DC-based firm that invests in companies at the nexus…
Gates-backed MetaVC Partners raises $62m for debut fund
MetaVC Partners, which is backed by Bill Gates, has closed on $62 million for its debut fund to invest in start-ups working with new advanced materials. Besides Gates Frontier, Microsoft…
Mercury hires Glendower exec to lead on secondaries
Mercury Capital Advisors has hired an executive from Glendower Capital as partner to lead its secondaries advisory effort. London-based Devrup Banerjee joined Mercury on 1 February, according to a statement…
eWTP Arabia spotlights Arab-Asian collaboration at SuperReturn Middle East
Dubai, UAE: eWTP Arabia Capital, a leading Saudi Arabia and China based growth stage venture fund, is co-sponsor of SuperReturn Middle East, the leading private equity event serving the Middle East…
Mercury adds US secondaries advisory exec
The adviser and placement agent sees a growing opportunity in the US lower middle market, particularly in preferred equity. Mercury Capital Advisors has brought a new hire over from the…
Springwater Capital partners with Morningside Capital Management and LSV Advisors in a structured solution of a European portfolio of alternative assets.
Springwater, a leading pan-European special situations investment firm, received a preferred equity investment in a portfolio of European private equity assets with a value of over €100 million. Fresh capital raised will…
Infrastructure Managers Rake in $124B for
New Fundraising Record
Money poured into infrastructure funds at a record pace last year, powered by factors such as a post-pandemic rebound, a range of potential risk and return options and a wide…
Mercury Capital Advisors Boosts its US Origination and Distribution Capabilities
Mercury Capital Advisors announced today that it has added James Howe and Michael Dunham as Partners to further enhance its origination and distribution capabilities. Howe and Dunham are based out…
Mercury Capital Advisors Adds Masashi Hirose and Eugene Park to Growing Team
Mercury Capital Advisors announced today that it has added Masashi Hirose as Partner and Eugene Park as Principal to boost distribution and project management efforts for the firm, respectively. Hirose…
Gaw Capital Partners Takes Top Spot in APAC Fund Manager Ranking by PERE
September 1, 2021, Hong Kong – Gaw Capital Partners ranked first in PERE’s APAC Fund Manager Guide, a ranking based on capital raised over a five-year period, which shows the top 50 fund managers…
Mercury Capital Advisors Appoints Michael Ricciardi as Chairman Emeritus
Mercury Capital Advisors (“Mercury”), among the world’s elite global private fund placement and advisory firms, today announced that it has appointed Michael Ricciardi, Chief Executive Officer and Co-founder of the…
Mercury Capital Advisors Announces Four Senior Hires for Distribution Team
Mercury Capital Advisors today announced that it has added four senior professionals to amplify distribution efforts for the firm. Matthew Haimes, based in London, Jill Cohen and Jennifer Tunney, both…
10 Biggest Trends Shaping the Next 3 Decades, According to Big Investors
Institutional investors and family offices in a recent survey cite digitization, aging population and climate change as the most important trends that will shape the global economic landscape in the…
Investcorp partners with 17Capital to structure portfolio of alternative assets
17Capital, the global go-to source of strategic financing for investors in private equity, and Investcorp, a leading global provider and manager of alternative investment products, are collaborating to structure a…
Opportunity-Zone Funds Gaining Momentum
After a slow start, managers of opportunity-zone funds have been raising capital at an accelerated rate, according to Real Estate Alert’s second-annual review of the sector. Twenty-two sponsors working independently…
Oaktree Leads Rush of New Distressed Funds Seeking $30B
A wave of distressed debt and special situations funds has hit the market in recent weeks in response to the Covid-19 pandemic downturn, jumpstarting a segment that had dwindled to…
Crisis Sidetracks Fund Shops’ Equity Raises
The coronavirus chaos is taking its toll on fund managers’ capital campaigns. Operators across the country are postponing initial and final closes, or discussing doing so, as investors focus on…
PE giants eyeing 2 opportunities amidst COVID
We talked to 14 private-equity insiders about how they’re planning to play the coronavirus turmoil. They identified 2 huge opportunities. Market chaos is creating crises and opportunities. Private-equity firms are…
LPs Slow Pledges to Debt Vehicles
Demand for high-yield-debt funds appears to have softened in the past year. The amount of equity raised by active closed-end vehicles is down for the first time since 2013, according…