TLDR:
- J2 Ventures secures $150 million for its second fund to invest in technology startups for federal agencies.
- The firm’s key tech focus areas include cybersecurity, advanced computing, health care, telecommunications, and infrastructure.
J2 Ventures, a venture capital firm based in Boston, has announced that it has raised $150 million for its second fund to continue investing in technology startups with products suitable for federal agencies. The investors in this new fund include MetLife, JP Morgan, and the New Mexico State Investment Council, amongst others.
Since its founding in 2020, J2 Ventures has invested in 25 companies, focusing on areas such as cybersecurity, advanced computing, health care, telecommunications, and infrastructure. Led by military veterans, the firm also helps its portfolio companies secure government contract funding and supports their efforts to scale out their technologies for adoption by agencies. J2 typically invests in startups between the pre-seed stage and Series A.
Some of J2 Ventures’ healthcare portfolio companies include Tasso, which makes needle-free blood drawing technology, and Lumia Health, a wearable device that measures blood flows to the brain. The firm also backs Femtosense, a developer of artificial intelligence chips for smart devices that are designed to be more energy efficient.
This new fund, the Argonne Fund, is more than double the amount of J2’s inaugural fund, which closed in 2021 with $67.5 million in commitments. The firm’s continued focus on tech startups and working with federal agencies reflects its commitment to innovation and supporting companies in the government contracting space.
