First Star Ventures is a pre-seed fund. Its own About page states its focus as "Pre-traction, Research-driven, on the Evolutionary Edge of Computing" and describes it as a "deep tech AI fund" that invests "with conviction at the earliest stages in visionary, technical founders", backing researcher founders and helping them scale from zero to Series A and beyond. Its homepage names robotics, biotechnology, AI and genomics as the fields it works in. The About page states three partners, 53 startups backed across three funds, and $3B in cumulative exit value generated by the partners as founders, executives and investors. The fund operates from 245 Main Street, Cambridge, Massachusetts.
AUM64/100 Power Score™2014 FoundedCambridge, MA
Deep TechArtificial IntelligenceRoboticsBiotechLife Sciences
The firm launches a debut $10 million fund under a different name, Procyon Ventures, according to TechCrunch's 16 September 2022 report.
2017
First Star Venture Fund II LP is organised in Delaware and files its first Form D on 3 March 2017 from a Boston, MA address, the first appearance of the First Star name in EDGAR.
2019
First Star Venture Fund II LP files a Form D/A on 20 August 2019, signed by Ruiyi Liu, reporting a $25,000,000 offering fully sold, from 245 Main Street, Cambridge, MA.
2022
First Star Venture Fund III LP files a Form D on 16 September 2022, signed by Andrew Volpe, for a $40,000,000 offering with $0 sold at the date of filing; First Star Ventures LLC is named as the management company.