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Great Wave Ventures is an early-stage venture capital firm based in New York, founded in 2019 by Kunal Lunawat and Nobu Iguchi. The firm, previously known as Agya Ventures, focuses on technology startups operating at the intersection of the built world, including sectors such as real estate and construction. Great Wave Ventures has established a unique LP base comprised of major Japanese real estate and construction firms, creating a strategic bridge between US innovation and Japanese market access.
As of now, the firm manages a total of $32 million in assets across its first fund, which closed in August 2022. Great Wave Ventures has invested in over 60 startups, including 17 graduates from Y Combinator. The firm emphasizes diversity, with approximately 50% of its portfolio companies having at least one female co-founder, significantly higher than the industry average of around 18%.
Great Wave Ventures primarily invests in technology related to the built world, focusing on sectors such as real estate technology, construction technology, and climate solutions. The firm targets early-stage companies, participating in funding rounds from pre-seed to Series A, with check sizes ranging from $250,000 to $1 million. The firm primarily focuses on the United States, with select investments in Japan.
The investment strategy emphasizes innovation in the built environment and climate solutions, leveraging a unique US-Japan strategic partnership. This partnership allows portfolio companies to gain access to distribution channels and pilot partnerships in Japan, enhancing their growth potential. Great Wave Ventures seeks founders who demonstrate strong leadership, a clear vision, and the ability to navigate the complexities of the built world.
Great Wave Ventures has a diverse portfolio of over 60 startups, showcasing innovation across various sectors related to technology and the built world. Notable companies in their portfolio include:
This portfolio reflects the firm's commitment to investing in companies that address pressing challenges in real estate, construction, and climate technology.
Kunal Lunawat – Co-founder. Kunal has a background in venture capital and technology, with experience in leading investments in the built world. He has been instrumental in establishing the firm's strategic partnerships.
Nobu Iguchi – Co-founder. Nobu brings expertise in real estate and construction, having worked with major Japanese firms. His insights help bridge US innovation with Japanese market access.
Michael Palmer – Partner. Michael has a strong background in early-stage investments and has led several successful funding rounds in the technology sector.
Megan Ananian – Venture Partner. Megan specializes in supporting portfolio companies with operational strategies and market entry.
Yurie Aiura – Director. Yurie focuses on deal sourcing and managing relationships with portfolio companies.
Hideaki Okubo – Senior Associate. Hideaki assists in due diligence and investment analysis.
Elisha Agravante – Operations Manager. Elisha oversees the firm's operations and ensures efficient processes.
Mark Bivens – Venture Partner. Mark provides strategic guidance to portfolio companies, leveraging his extensive network.
Matt Romaine – Venture Partner. Matt focuses on technology investments and supports startups in scaling their operations.
To pitch Great Wave Ventures, founders should visit their website at greatwave.vc. The pitch deck should include a clear business model, market analysis, and team background. The firm prefers warm introductions but will consider direct applications through their website. Response times may vary, but founders can expect feedback within a few weeks.
In November 2023, Great Wave Ventures established its second fund, following the successful closure of its first fund in August 2022. The firm confirmed a significant LP investment from Tokyu Construction for its second fund, expected to enhance its investment capabilities in the built world and climate sectors.
Great Wave Ventures has actively invested in over 60 startups, including 17 graduates from Y Combinator, showcasing its commitment to supporting innovative companies in the technology space.
What are Great Wave Ventures' investment criteria?
Great Wave Ventures invests in early-stage technology startups at the intersection of the built world, climate, and logistics. They focus on sectors such as real estate technology, construction technology, and climate solutions.
How can I apply or pitch to Great Wave Ventures?
Founders can pitch their startups through the Great Wave Ventures website at greatwave.vc. It is advisable to include a clear business model, market analysis, and team background in the pitch deck.
What makes Great Wave Ventures different from other VC firms?
The firm has a unique US-Japan strategic partnership that provides portfolio companies with access to major Japanese real estate and construction firms, facilitating distribution and pilot partnerships in Japan.
What is the geographic scope of Great Wave Ventures?
Great Wave Ventures primarily invests in the United States, with select investments in Japan, leveraging its LP base to bridge these two markets.
What is the typical fund size and check size for Great Wave Ventures?
The firm manages a fund size of $32 million, with check sizes ranging from $250,000 to $1 million for early-stage investments.
What is the post-investment involvement of Great Wave Ventures?
Great Wave Ventures provides strategic support to its portfolio companies, including access to a network of Japanese firms, which can help in distribution and pilot partnerships.
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