Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Hanover is a venture capital firm founded in 2018 and headquartered in Portola Valley, California. The firm operates under the legal name Hanover Technology Investment Management LLC and focuses on investing in foundational technologies that contribute to the next evolution of the American economy. Hanover's mission is to help founders build sustainable businesses that leverage innovative technologies.
As of now, Hanover manages a fund size of approximately $100 million and has made a total of 22 investments across 18 portfolio companies. The firm emphasizes early-stage investments, particularly in sectors that are crucial for future growth, such as energy and data infrastructure. Hanover's team is committed to providing strategic guidance and support to its portfolio companies, helping them scale effectively in their respective markets.
Hanover invests across a range of sectors, including energy, data infrastructure, enterprise work automation, software-defined hardware, and simulation. The firm targets various stages of investment, from pre-seed to growth equity, with a particular emphasis on early-stage ventures. Hanover typically participates in rounds averaging around $22 million, reflecting its commitment to backing companies that demonstrate potential for durable business models.
The firm seeks to support technologies that not only showcase innovation but also have the capacity to create sustainable businesses. Hanover's investment thesis centers on foundational technologies that can drive significant advancements in the American economy. The firm looks for highly technical founders who are at the forefront of their industries, particularly in sectors like clean energy and enterprise automation.
Hanover's portfolio includes a diverse array of companies that exemplify its focus on foundational technologies. Notable portfolio companies include:
These companies represent Hanover's commitment to investing in technologies that are essential for future growth and innovation.
Joseph Malchow — Founding General Partner
Joseph Malchow is the founding and managing partner of Hanover. He has a background in law and technology, having graduated from Dartmouth College and Stanford Law School. Malchow has been recognized in Forbes 30 Under 30 and has a history of supporting highly technical founders at the earliest stages of their ventures.
He serves on the boards of several notable companies, including Enphase Energy and Enovix Corporation, both of which are leaders in the energy technology sector. His experience and connections in the industry enhance Hanover's credibility and influence.
To pitch Hanover, founders should utilize the contact information provided on their website. A well-structured pitch deck should include an overview of the business, market analysis, competitive landscape, and financial projections. Hanover prefers to receive pitches via email at info@hnvr.com.
Response times may vary, but founders can generally expect to hear back within a few weeks. Warm introductions are beneficial, but not strictly necessary.
In October 2022, Hanover's portfolio company Archaea Energy was acquired by BP for $4.1 billion, marking a significant exit for the firm. This acquisition highlights Hanover's focus on investing in impactful energy technologies.
In June 2023, Joseph Malchow joined the board of Enovix Corporation, a company specializing in advanced battery technology that went public in July 2021. This board position further solidifies Hanover's commitment to supporting innovative companies in the energy sector.
Hanover has also been active in funding rounds, including a recent seed investment in Mulberri, a business insurance platform, alongside MS&AD Ventures and Altamont Capital in August 2022.
What are Hanover's investment criteria?
Hanover focuses on early-stage investments in foundational technologies across sectors such as energy, data infrastructure, and enterprise work automation. The firm looks for companies that demonstrate innovative solutions and the potential for sustainable business models.
How can founders pitch Hanover?
Founders can pitch Hanover by visiting their website at hnvr.com or by sending an email to info@hnvr.com. It is advisable to include a detailed overview of the business, market opportunity, and team background in the pitch.
What makes Hanover different from other VC firms?
Hanover differentiates itself through its focus on foundational technologies and its commitment to supporting highly technical founders. The firm provides strategic guidance and leverages its expertise to help portfolio companies scale effectively.
What is Hanover's geographic focus?
Hanover primarily invests in North America, specifically within the United States. This geographic focus allows the firm to engage closely with its portfolio companies and the markets they serve.
What is the average check size for Hanover's investments?
Hanover typically participates in investment rounds averaging around $22 million, reflecting its strategy of backing companies at various stages of growth.
What is Hanover's post-investment involvement like?
Hanover actively engages with its portfolio companies, providing strategic guidance and support to help them navigate challenges and scale their operations effectively. The firm emphasizes building long-term relationships with founders.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.