MassVentures

MassVentures is a quasi-public corporation created by the Legislature of the Commonwealth of Massachusetts in 1978, not a private partnership. Its own relaunch announcement states it was formed in 1978 as a quasi-public corporation by the Legislature and is governed by an independent Board of Directors, and its public records page cites Section 10 of M.G.L. c. 40G as its enabling legislation and treats the organisation as subject to the state public records law and to the Open Meeting Law at M.G.L. c. 30A. Board members are appointed by the Governor, and the board is chaired by the state Economic Development Secretary. It carries out at least three distinct activities that should not be blended. MV Capital combines equity investment through a Deep Tech Venture Fund with non-dilutive grant programmes, principally the SBIR START grants for Massachusetts SBIR Phase II companies, plus Clean Energy Catalyst grants and THRiVE grants. MV Accelerate provides commercialisation support, founder education, SBIR coaching and mentoring, including the Founders School. MV Spinouts works with Massachusetts academic institutions to convert research and intellectual property into companies, through the Mass Academic Spinouts Center. Its stated investment focus is seed-stage deep tech companies and academic spinouts based in Massachusetts, across advanced manufacturing, advanced materials, artificial intelligence, robotics, photonics, electronics, quantum computing, cleantech, medical devices, biotechnology, internet of things, health security and cyber security, with a stated emphasis on diverse founding teams and on geographies across the Commonwealth rather than only Boston and Cambridge. It describes itself as an evergreen fund which has funded its own operations by recycling investment proceeds.

Signature Exit

JetCool Technologies (acquired, November 2024)

Key Partners & Leadership

Firm Timeline