Tech Venture Fund Matter Raises $300M for First Fund to Revolutionize ‘Hard Tech’ Investments

• Matter Venture Partners raises $300M first fund to invest in ‘hard tech’
• Co-founders Wen Hsieh and Haomiao Huang left Kleiner Perkins to start Matter Venture Partners, focusing on hard tech investments
• The $300 million fund is considered one of the largest “first funds” raised in 2023
• Matter Venture Partners invests in large seed rounds, Series A, and Series B for hard tech startups
• The fund focuses on six key areas within hard tech, aiming to provide foundational technologies for societal trends

Matter Venture Partners Raises $300M First Fund to Invest in ‘Hard Tech’

In the fast-paced world of venture capital, new players are always emerging with innovative strategies and a keen eye for promising technologies. One such example is Matter Venture Partners, founded by Wen Hsieh and Haomiao Huang, former investors at Kleiner Perkins. Their focus on “hard tech” has attracted significant attention, leading to the successful closure of a $300 million inaugural fund.

From Kleiner Perkins to Matter Venture Partners: A Journey into ‘Hard Tech’

Wen Hsieh and Haomiao Huang, with their extensive experience at Kleiner Perkins, recognized the potential in investing in companies focusing on “hard tech.” Hsieh, having a 17-year tenure at KPer, and Huang, with four years of experience, decided to embark on a new venture. Their passion for technologies like microLED displays, high-energy density lithium-ion batteries, drones, and 3D printing culminated in the establishment of Matter Venture Partners.

The duo’s transition from Kleiner Perkins to founding their own fund highlights their commitment to exploring and supporting groundbreaking technologies. Their track record of successful investments in companies such as LuxVue, Amprius, DJI, and Desktop Metal underscores their expertise in identifying disruptive innovations within the ‘hard tech’ space.

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Challenges and Triumphs: Closing a $300 Million Inaugural Fund

In 2023, amidst a challenging fundraising landscape, Matter Venture Partners set out to raise a $200 million fund. However, against the odds, they managed to secure a substantial $300 million, making it one of the largest “first funds” raised that year. Hsieh acknowledged the difficulties faced by startups and venture capitalists but expressed gratitude for the overwhelming support they received.

The success of Matter Venture Partners in raising funds can be attributed to their unwavering focus on ‘hard tech.’ The realization that foundational technologies shaping society are rooted in hard tech propelled their oversubscription. By staying true to their vision and investment thesis, the firm navigated a tough fundraising climate and emerged stronger than ever.

Investing in the Future: Unveiling Matter Venture Partners’ Strategy

Matter Venture Partners operates with a strategic focus on investing in the next wave of technological advancements. By categorizing ‘hard tech’ into six key areas—semiconductors, robotization, generative AI, manufacturing, energy, and life sciences—the firm aims to support entrepreneurs driving innovation in these sectors. Their commitment to providing the essential tools and resources for technological progress aligns with the concept of supplying the ‘picks and shovels’ for emerging trends.

The partners at Matter Venture Partners emphasize their role as company builders, offering guidance and support to founders without impeding their vision. By fostering a collaborative and hands-on approach, they position themselves as valuable partners in the growth and development of the companies in which they invest.

Matter Venture Partners’ $300 million fund signals a new chapter in the realm of venture capital, particularly in the ‘hard tech’ domain. With a clear vision, a robust investment thesis, and a team of experienced professionals, the firm is poised to make a significant impact on the tech industry by supporting the next generation of innovative technologies.