Crosscut Ventures Evolves Its Focus to Tackle Humanity's Biggest Problems in Frontier Tech - Space, Defense, and Energy Transition

In support of this strategic shift, Crosscut is also launching a growth investment platform designed to back later-stage rounds in frontier tech.

LOS ANGELES, Oct. 29, 2024 /PRNewswire/ -- Crosscut Ventures, an early-stage venture capital firm with deep roots in Southern California's tech ecosystem, today announced a strategic evolution in its investment thesis. Moving forward, Crosscut will exclusively focus its capital and company-building efforts on frontier technology, including space exploration, defense innovation, advanced materials and manufacturing — sectors that push the boundaries of technological development to solve critical market problems. Alongside these, Crosscut will also focus on energy transition and scalable climate solutions, reflecting the growing importance of these areas to the SoCal tech ecosystem. As part of the new direction, Crosscut will announce a new partner later this year who will join Crosscut's 6th fund to lead the firm's growth and project finance efforts, enabling the most promising energy innovations to reach commercial scale.

Building on Crosscut's sixteen-year track record of early-stage success, backing over 170 companies with initial capital of $210 million, leading to over $7.2 billion of follow-on capital, Crosscut is committed to advancing opportunities in frontier technology. This shift aligns with the firm's history of supporting companies like Inspire Energy (acquired by Shell), Measurabl, and Umbra Space, while paving the way for the next generation of mission-driven businesses, through more recent investments like Carbon Ridge, Cambium Carbon, SoloPulse, Haxion, Aalo, Proteus Space, and Solestial Solar.

"In my 23 years as an early-stage investor in LA, I've never been more excited about the potential of this market, the diversity of talent and the hard problems that I see amazing entrepreneurs tackling every day. We are just at the beginning stages of this techno-manufacturing revolution that will drive SoCal and produce some of the best returns of the next two decades," said Brian Garrett, Managing Director and Co-Founder of Crosscut. "I feel lucky to wake up every day and have the opportunity to support the SoCal founders who are tackling these problems. I look forward to seeing the tremendous impact these solutions can have on global decarbonization, our energy systems and the continuing commercialization of space."

In support of this strategic shift, Crosscut is also launching a growth investment platform designed to back later-stage rounds in frontier tech. With over 100 investors already committed, the invite-only network will syndicate a select set of underwritten growth deals to a network of mission-aligned investors, including family offices, endowments and foundations with a focus on frontier technologies such as nuclear fission, synthetic fuels and next-generation transmission and grid solutions.

About Crosscut Ventures

Crosscut Ventures, one of LA's longest-standing seed funds, invests in founders building solutions that provide humanity with a better future. Crosscut partners with founders focused on clean energy generation and power distribution, the commercialization of frontiers in space, the ocean, and the earth, decarbonization, and the upgrading of the U.S.' defense systems. The firm is committed to using its 16+ years of experience, widespread connectivity, and proven playbooks to bring companies to commercial viability for the betterment of humanity.

For more information, visit www.crosscut.vc.

SOURCE Crosscut Ventures