J2 Ventures Raises $150 Million to Fuel Growth of Tech Startups with Dual-Use Applications

J2 Ventures, a deep-tech venture capital firm focusing on technologies crucial for both the private sector and national security, has successfully raised $150 million for its new Argonne Fund. This oversubscribed fund, which is majority veteran-owned and led, marks more than double the size of their previous fund, drawing support from major financial institutions including JP Morgan, MetLife, and the New Mexico State Investment Council.

The newly secured capital will enable J2 Ventures to further invest in startups with potential for government collaborations, utilizing technologies that promise significant returns with minimal correlation to traditional markets. J2 Ventures specializes in Advanced Computing, Cybersecurity, Telecom/Infrastructure, and Healthcare startups, assisting them in securing funding and contracts from military and other government branches to scale frontier technology products for broader markets.

"It is an honor to continue and significantly grow the impact we are having at J2 Ventures with our latest fund," said Alexander Harstrick, Managing Partner of J2 Ventures. "The growth of our portfolio, the doubling down of existing LPs, and the attraction of some of the most sophisticated institutional investors is a great confidence boost. There is not only appetite for our model but a strong and rapidly growing interest. We are truly just getting started."

J2 Ventures has invested in over 25 companies, often drawing coinvestment from top-performing generalist venture capital funds. Notable among their investments are companies like Aalyria, Micron Biomedical, and Lumia Health, where J2 Ventures is the sole institutional financial backer.

Raquel Bono, MD, Advisor to J2 Ventures and Former Director of the Defense Health Agency, commented, "J2 Ventures is a special team doing fantastic work in places that I know firsthand need innovation now more than ever. I told the team I would only join if their intent was to swing for the fences, find solutions for the hardest challenges, and strive for durable change by bringing best-in-class capabilities to our men and women in uniform. I have not been disappointed; J2 Ventures has done more than hold up their end of the deal."

In 2021, J2 Ventures raised their $68 million inaugural fund. The team comprises seasoned professionals with extensive experience in healthcare, science, technology, and defense, uniquely positioning them to lead and invest in dual-use technology ventures. They have previously advised on over $3 billion worth of Department of Defense contracts for startups.

J2 Ventures is based in Boston and manages over $200 million in assets. The firm focuses on sectors critical to national security and private sector advancements, including advanced computing, cybersecurity, telecom and infrastructure, and healthcare. The fund is backed by some of the largest and most sophisticated limited partners globally, such as JP Morgan, MetLife, and the New Mexico State Investment Council. For more information about J2 Ventures and their initiatives, please visit j2vp.com.

This announcement highlights J2 Ventures' commitment to fostering innovation and supporting startups that address both commercial and national security needs. The firm's strategy of leveraging government collaborations to scale frontier technology products positions it uniquely in the venture capital landscape, ensuring it plays a vital role in the growth and success of the startups within its portfolio.