Wave Function Ventures Launches with $15 Million Deep Tech Investment Fund

In a rapidly evolving technological landscape where innovation drives progress, venture capital plays a pivotal role in nurturing groundbreaking ideas. The launch of Wave Function Ventures, a new $15 million deep tech fund, marks a significant milestone for the global startup ecosystem.

Targeting early-stage companies working on complex technologies like artificial intelligence, quantum computing, advanced materials, robotics, and biotechnology, the firm aims to bridge the gap between scientific discovery and commercial success. With deep tech increasingly seen as the backbone of future industries—from sustainable energy to intelligent automation.

Wave Function Ventures’ entry could not have come at a better time. As investors and entrepreneurs seek to harness the next wave of transformative innovation, this new fund promises not just financial support but also strategic mentorship, research partnerships, and a long-term vision for scalable impact.

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The Birth of Wave Function Ventures

Wave Function Ventures emerged from a shared vision among a group of scientists, technologists, and venture capitalists who recognized a widening gap between deep scientific innovation and commercial viability. Traditional venture capital has long favored software and consumer technology—areas that promise faster returns and lower capital intensity.

The firm’s name, “Wave Function,” draws inspiration from quantum mechanics, symbolizing the unpredictable yet boundless potential of scientific innovation. According to its founding team, this concept mirrors the spirit of deep tech entrepreneurship: complex, uncertain, but capable of reshaping reality when properly harnessed.

Headquartered in San Francisco, with additional offices in Boston and Berlin, Wave Function Ventures aims to operate at the intersection of academia, industry, and capital markets. The firm plans to invest in approximately 20 to 25 startups over the next three years, focusing on technologies with the potential to create entirely new industries or redefine existing ones.

Focus Areas: The Frontiers of Deep Tech

The $15 million fund will specifically target five core domains that the firm believes represent the future of human advancement:

Artificial Intelligence and Machine Learning

Wave Function Ventures plans to invest in AI startups developing foundational models, edge AI, and autonomous systems. Rather than focusing solely on consumer-facing AI applications, the firm is interested in infrastructure-level innovation—tools that enhance reasoning, perception, and decision-making capabilities across industries.

Quantum Computing

Quantum technology stands at the heart of the firm’s philosophy, reflected even in its name. Investments will focus on quantum algorithms, hardware optimization, error correction, and hybrid quantum-classical computing systems. The goal is to support ventures that make quantum computation more accessible and scalable for commercial use.

Advanced Materials

From graphene composites to self-healing polymers, breakthroughs in material science underpin many future technologies. Wave Function Ventures aims to back startups leveraging nanotechnology and chemistry to create materials with unprecedented properties for energy, construction, and medical applications.

Robotics and Automation

With the rise of Industry 4.0, the need for intelligent and adaptable robotics has never been greater. The fund will target robotics startups building human-assistive machines, industrial automation systems, and AI-powered drones—solutions that can redefine manufacturing and logistics.

Biotech and Synthetic Biology

The boundary between biology and technology is rapidly dissolving. Wave Function Ventures plans to invest in startups at the cutting edge of genomic engineering, biomaterials, and precision medicine, emphasizing solutions that can revolutionize healthcare, agriculture, and environmental sustainability.

Investment Philosophy and Approach

Unlike traditional VCs that seek short-term exits, Wave Function Ventures adopts a patient capital model. The firm acknowledges that deep tech innovation often takes five to ten years to mature from lab to market. Therefore, it prioritizes founders who combine scientific rigor with commercial awareness.

Hands-On Involvement

Wave Function Ventures plans to go beyond funding by providing technical guidance, regulatory expertise, and access to global research networks. Many of its partners have backgrounds in quantum physics, machine learning, and bioengineering, allowing them to engage deeply with the technologies they invest in.

Bridging Academia and Industry

One of the fund’s defining features is its collaboration with universities and research institutions. By fostering relationships with academic labs, the firm hopes to help scientists transition their innovations from theory to product.

Early-stage deep tech often emerges from research spinouts that require both capital and commercialization know-how—two areas where Wave Function Ventures can add immediate value.

Global Perspective

The firm views innovation as a global phenomenon, with breakthroughs emerging from ecosystems in Europe, Asia, and North America alike. Through its offices in Berlin and partnerships in Singapore and Tel Aviv, Wave Function Ventures aims to identify and nurture promising startups regardless of geography.

Founding Team and Vision

Wave Function Ventures was founded by Dr. Lina Kovalenko, a quantum physicist turned investor, and Ethan Reed, a former AI systems engineer with experience at Google DeepMind. Together, they bring a unique combination of scientific credibility and entrepreneurial insight.

Dr. Kovalenko previously led research at MIT’s Quantum Engineering Group, where she co-authored several influential papers on quantum optimization algorithms. Ethan Reed has been an active angel investor in AI infrastructure startups and served as a technology advisor for early-stage robotics companies.

They are joined by partner Marisol Chen, a veteran in biotech venture funding, and advisor Dr. Rahul Subramanian, a computational biologist and former DARPA fellow.

According to Kovalenko, the firm’s mission is simple: “We want to invest in ideas that might seem impossible today but inevitable tomorrow. Deep tech isn’t about quick wins—it’s about building the future layer by layer.”

Market Context: Why Deep Tech Matters Now

The timing of Wave Function Ventures’ launch is strategic. The global venture capital landscape is undergoing a transformation. After a period dominated by consumer software and fintech, investors are increasingly shifting toward science-driven innovation.

Global Deep Tech Momentum

Recent data suggests that deep tech funding surpassed $60 billion globally in 2024, up nearly 30% from the previous year. Governments, too, are investing heavily in national innovation agendas—such as the U.S. CHIPS and Science Act and the European Innovation Council’s Deep Tech Fund.

The world’s most pressing challenges—climate change, energy storage, healthcare accessibility—require solutions rooted in advanced science and engineering. Deep tech, with its potential for exponential impact, is positioned to drive the next industrial revolution.

Challenges in Deep Tech Investment

However, funding deep tech remains challenging. Startups often face long R&D timelines, regulatory hurdles, and high capital intensity before achieving market viability. Many traditional investors hesitate to commit, preferring quicker returns from digital or SaaS models.

Wave Function Ventures aims to change that narrative by building infrastructure around long-horizon innovation—from prototyping labs to international regulatory support. By taking a mission-driven, evidence-based investment approach, the firm hopes to derisk early-stage scientific entrepreneurship.

Early Portfolio Highlights

Although the fund has just launched, Wave Function Ventures has already announced several initial investments that exemplify its focus areas:

QubitFoundry (Quantum Computing):

A startup developing noise-resistant superconducting qubits designed to enhance computation stability in hybrid quantum systems.

SynCell Labs (Synthetic Biology):

A biotech firm creating programmable cells capable of synthesizing bio-based materials, potentially transforming pharmaceutical manufacturing.

NeuroEdge AI (Machine Learning Hardware):

Focused on building neuromorphic chips that mimic the human brain’s architecture, reducing power consumption and improving on-device AI performance.

Arkeon Robotics:

A robotics startup designing lightweight, self-learning drones for industrial inspection and environmental monitoring.

NanoCore Materials:

Working on carbon-based metamaterials for lightweight aerospace components with unprecedented strength and thermal stability.

These examples underline the fund’s ambition: to invest in technologies that push the boundaries of human capability.

Partnerships and Ecosystem Building

Wave Function Ventures understands that deep tech cannot thrive in isolation. The firm is building partnerships with universities, national labs, and corporate R&D departments to create a dynamic ecosystem around its portfolio companies.

Some of its early collaborators include:

• MIT Media Lab
• Max Planck Institute for Intelligent Systems
• Stanford Bioengineering Department
• NVIDIA’s Inception Program

Through these collaborations, startups backed by Wave Function Ventures gain access to world-class research infrastructure, mentorship, and potential co-development opportunities with established technology giants.

The Future of Deep Tech Investment

Looking ahead, Wave Function Ventures aims to expand its capital base to $100 million within five years. The firm envisions establishing sector-specific micro-funds, such as a dedicated Quantum Innovation Fund and a BioEngineering Acceleration Fund, each focusing on different aspects of frontier technology.

Moreover, the company plans to introduce an annual Deep Tech Innovation Summit, bringing together founders, researchers, and policymakers to discuss emerging challenges and opportunities in science-led entrepreneurship.

Commitment to Ethical Innovation

Beyond profitability, Wave Function Ventures is deeply committed to the ethical implications of technology. The firm’s investment committee evaluates not just financial return but also societal impact, sustainability, and governance standards. “Building the future responsibly,” says partner Marisol Chen, “means ensuring that innovation uplifts humanity rather than disrupts it blindly.”

Frequently Asked Question

What is Wave Function Ventures?

Wave Function Ventures is a new venture capital firm that has launched a $15 million deep tech investment fund. It focuses on early-stage startups developing advanced technologies such as AI, quantum computing, robotics, biotech, and advanced materials.

Who founded Wave Function Ventures?

The firm was co-founded by Dr. Lina Kovalenko, a quantum physicist, and Ethan Reed, an AI systems engineer and former DeepMind researcher. They are joined by biotech investor Marisol Chen and scientific advisor Dr. Rahul Subramanian.

What makes Wave Function Ventures different from traditional VC firms?

Unlike most venture capital firms that prioritize short-term profits, Wave Function Ventures adopts a patient capital model, supporting startups through long R&D cycles. The firm’s partners have deep scientific expertise and actively collaborate with academic and industrial research institutions.

How many startups will Wave Function Ventures invest in?

The firm plans to invest in 20 to 25 early-stage startups over the next three years, focusing on those capable of achieving large-scale scientific and societal impact.

Which sectors will the fund focus on?

The fund’s core focus areas include AI and machine learning, quantum computing, advanced materials, robotics and automation, and biotechnology—sectors that drive foundational innovation across industries.

Where is Wave Function Ventures based?

The firm is headquartered in San Francisco, California, with regional offices in Boston and Berlin. It also partners with organizations in Singapore and Tel Aviv to maintain a global footprint.

What is the long-term vision of Wave Function Ventures?

Wave Function Ventures aims to scale its fund to $100 million within five years, foster collaboration between academia and industry, and establish itself as a global leader in ethical and impactful deep tech investment.

Conclusion

Wave Function Ventures’ $15 million deep tech fund represents a bold statement of faith in science-driven entrepreneurship. By investing in technologies that challenge conventional boundaries—from quantum computing to bioengineering—the firm embodies the belief that today’s laboratory experiments are tomorrow’s world-changing industries.

In an age when capital often chases speed over substance, Wave Function Ventures is reviving an essential ethos: innovation takes time, patience, and courage. Its launch signals a renewed confidence in deep tech’s power to redefine the global economy and shape a sustainable, intelligent, and interconnected future.