New $5M Fund Targets University Founders

The Rise of Young Founders Tackling Global Challenges

Within the academic environment of a university, one frequently encounters individuals driven by a desire to improve the world, or at least a segment of it. While this can often be attributed to youthful idealism, there are instances where these ambitions hold genuine potential.

Critical Venture Partners is operating on the premise that recently graduated founders, sourced directly from universities, possess the capacity to address some of the most persistent global issues. These include areas like climate change, advancements in healthcare, and the expansion of economic opportunities.

The firm was established by a team of three recent alumni from the University of Pennsylvania.

A Founder-Focused Investment Strategy

“We embody the type of founder we actively seek to invest in – young individuals supporting other young innovators,” explained Sam Strickberger, co-founder and general partner at Critical Venture Partners, in a statement to TechCrunch.

Alongside his co-founders, Seungkwon Son and his brother Max Strickberger, a total of $5 million has been secured for their initial fund. This fund will be utilized to attract founders, with investments ranging from $50,000 to $250,000.

A portion, specifically 25%, of the fund is allocated for subsequent follow-on investments.

Notable limited partners include Aarti Chandna, a partner at Silicon Valley Social Venture Fund; Seth Goldman, also the board chair of Beyond Meat; and Andrew Kaplan, a partner at Bain Capital.

Cultivating the Next Generation of Innovators

To effectively attract emerging talent, Critical Venture Partners is collaborating with Yope – previously known as Founder.org and initiated by Michael Baum, the co-founder and CEO of Splunk – to host a $100,000 startup competition.

Portfolio Companies Addressing Critical Needs

To date, the firm has made investments in three distinct startups:

• General Galactic: Focused on converting CO₂ into methane.
• Mobius Industries: Dedicated to the recovery of valuable metals from waste materials.
• Stratagen Bio: Enhancing MRI scans with the integration of quantitative data.

“We draw significant inspiration from the historical precedent of young founders establishing substantial, category-defining companies,” Strickberger stated.

The emphasis on young founders within venture capital is a well-established trend, almost reaching the level of a prevailing obsession. However, the notion that complex problems necessitate innovative perspectives is inherently logical. The optimism demonstrated by this new firm may stem from youthful enthusiasm, but it aligns with a broader, successful pattern within the industry.