TLDR:
- J2 Ventures has raised $150 million for its new Argonne Fund to invest in startups focused on advanced technologies critical for national security.
- The fund is oversubscribed and includes support from major financial institutions like JP Morgan and MetLife.
J2 Ventures, a deep tech venture capital fund, announced that it has raised $150 million for its new Argonne Fund. This fund is focused on new technologies that are crucial for the private sector and national security interests of the U.S. and its allies. The oversubscribed fund, majority veteran-owned and led, is more than double its last fund size with support from large financial institutions like JP Morgan, MetLife, and the New Mexico State Investment Council. This new capital will enable J2 Ventures to further invest in startups with government collaborations, specializing in areas like Advanced Computing, Cybersecurity, Telecom/Infrastructure, and Healthcare. The firm has already invested in over 25 companies, often drawing coinvestment from top performing venture capital funds.
J2 Ventures aims to help startups win funding and contracts from the military and other government branches to scale their technology products. The team is composed of seasoned professionals with experience across healthcare, science, technology, and defense, making them well-positioned to lead and invest in dual-use technology ventures. The Managing Partner of J2 Ventures, Alexander Harstrick, expressed excitement about the growth of the portfolio and the strong interest from sophisticated institutional investors. Raquel Bono, MD, Advisor to J2 Ventures and Former Director of the Defense Health Agency, praised the team’s work in innovation and solving challenges for the military.
