First-Ever Fund Connected to Numerous Federal Programs, 28 Universities, and Global Network of 20 Countries
Sillicon Valley, CA. /PRNewswire/ -- The huge divide in high school between the geeks and the jocks is a canyon that often lasts for a lifetime. A new venture capital fund, however, is betting that bringing together the brightest scientists and the most successful businesspeople can create millions of dollars for both sides.
T2 Venture Capital announced the initial close of its inaugural venture fund, T2 Venture Partners, L.L.C. T2VC will invest in startup companies with breakthrough technology spinning out of government and academia. T2VC is the first venture capital fund that is connected to several key federal programs, 28 universities, and a global network of technology organizations in 20 countries. According to Victor W. Hwang, one of the co- founders, "The translational gap between science and business is a major bottleneck in the economy. We lose out because our brightest minds on both sides are not working together. We aim to change the world for the better and to create wealth at the same time."
T2VC itself is a spinout. Larta Institute, one of the nation's leading organizations that works with government agencies and universities to grow new companies, gave birth to the Fund and is a partner in T2VC. Larta Institute manages programs for key institutions like the National Institutes of Health, DARPA (the Department of Defense's research arm), and the Advanced Technology Program (of the National Institute for Standards and Technology). Larta Institute also manages a consortium that has involved 28 universities around the world. Co-Founder Victor W. Hwang is the immediate past President of Larta Institute.
T2VC will also have special access to a vast global network of technologies and expertise. The fund's other co-founder, Greg Horowitt, is the Executive Director of Global CONNECT, the world's leading network of organizations that grow technology startups. Says Horowitt, "Breakthrough technology is located around the world, but the capital and resources to grow that technology is clustered in just a few places. We finally have a fund to connect the best technologies with the smartest money and the sharpest talent, wherever they are in the world."
Unlike other brand new venture capital firms, T2VC starts out immediately with enormous access to deal flow and talent. T2VC builds from a strong network of over 50 top-tier venture capital firms and corporations that work with both Larta Institute and Global CONNECT in cities such as Los Angeles, San Diego, Chicago, Washington D.C., Boston, New York, and London. Investors in T2VC's inaugural fund consist of leading venture capitalists, CEOs, and other professionals. The size of the inaugural fund is undisclosed.