Boost VC has closed on $84.5 million for its Deep Tech Fund 4, surpassing its initial target size of $75 million, according to a Form D filed with the SEC.
The investment firm, based in San Mateo, California, was co-founded by Adam Draper, who serves as its managing director, in 2012, and has roughly $225 million in assets under management.
Boost invests in deep tech hardware and software, including aerospace, robotics, biotech, health, AI and machine learning, crypto, energy, defense, climate and oceans, augmented and virtual reality and materials.
Prior to the deeptech fund, Boost VC’s most recent funds are Accelerator 3, which closed on $48.56 million in 2022, and Crypto 1, which closed on $30 million the same year.
Limited partners in the third accelerator fund include Passport Foundation, a nonprofit foundation based in Wilmington, Delaware, that provides grants for educational, environmental and healthcare initiatives.
Boost VC writes $500,000 checks as the first investor into companies raising $2 million or less, the firm said when it announced its 20th Demo Day last October to accelerate deep tech investment and innovation. At the time, Boost said it was one of the most active investors in deep tech, averaging one deal per week.
The firm’s portfolio includes Coinbase, Radiant Nuclear, DeepGram, FitXR, Navier, Volley, Etherscan and Starfish Space.
Recent exits Fold Holdings (Nasdaq: FLD), a bitcoin financial services company whose reverse merger in February was valued at $370 million. The IPO of Gemini Space Station, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss in 2014, is pending.
