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Material Impact is a venture capital fund based in Boston, Massachusetts, founded in 2015 by Carmichael Roberts and Adam Sharkawy. Both founders possess extensive backgrounds in materials science and entrepreneurship, which informs the firm’s investment strategy. Material Impact focuses on building companies that transform materials technologies into products addressing significant real-world problems.
The firm has raised a total of approximately $800 million across three funds, with the latest, Fund III, closing at $352 million in 2023. This fund was oversubscribed and attracted investments from marquee university endowments, family offices, foundations, and funds of funds. Material Impact operates with a team of experienced professionals dedicated to supporting inception-stage companies.
Material Impact has established itself as a key player in the venture capital landscape, particularly in the materials science sector. The firm’s office is located at 131 Dartmouth Street, 3rd Floor, Boston, MA 02116. Their commitment to innovation is further demonstrated through the launch of the Materialize New York accelerator, which facilitates the transition of advanced technologies from academic research to startup formation.
Material Impact invests in inception-stage companies that are pioneering innovations in material science. The firm targets sectors such as artificial intelligence, healthcare, energy, climate, biotechnology, consumer products, and food-agtech. Their investment strategy emphasizes solving large-scale, real-world problems related to essential human needs, including water scarcity, food supply, sustainable manufacturing, mobility, energy, and underrepresented healthcare.
The firm typically leads early rounds of funding, with check sizes ranging from $1 million to $10 million. Material Impact acts as the first institutional check for its portfolio companies, providing ongoing support to help them transition from lab research to commercial success. Their broad investment thesis allows them to seek impactful solutions across various sectors without limiting themselves to specific industries.
Material Impact's focus on material science innovations positions them uniquely in the venture capital space, as they believe that disruptive innovation in virtually every industry traces back to advances in materials science. This approach enables them to identify and support breakthrough discovery-stage companies that turn lab research into viable commercial products.
Material Impact has a diverse portfolio of approximately 30 active companies, including notable names such as:
This portfolio reflects Material Impact's commitment to supporting companies that leverage material science to address critical global challenges.
Carmichael Roberts, PhD: Co-Founder & Managing Partner. He has a background in materials science and entrepreneurship, recognized with an Edison Award for his contributions to deep tech.
Adam Sharkawy, PhD: Co-Founder & Managing Partner. He specializes in medical devices and deep tech commercialization, bringing extensive experience in the field.
Corinna Chen: Partner with a focus on investment strategy and portfolio management.
Christian Theriault: Partner, contributing expertise in venture capital and startup growth.
Melissa Fensterstock: Company Building Advisor, providing operational support to portfolio companies.
Ben Schlatka: Company Building Partner, focused on scaling startups and enhancing their market presence.
Alexa Horwitz: Director of Marketing and Communications, responsible for the firm’s outreach and branding.
Shawna Sharkey: Vice President, involved in investment analysis and portfolio management.
Ezgi Emiroglu: Venture Associate, supporting deal sourcing and due diligence.
Ken DiPoto: Chief Financial Officer, overseeing financial operations and fund management.
Paul Deninger: Operating Partner, a retired investment banker with experience at Evercore.
Joe Kennedy III: Senior Advisor, providing insights into policy and regulatory matters.
Theresa Peterson: Senior Advisor, contributing expertise in healthcare and technology.
George Whitesides, PhD: Chief Scientific Advisor, a prominent figure in materials science.
Elyse Winer: Partner, focusing on investment strategy and portfolio development.
Deborah Kilpatrick, PhD: Health IT CEO at Evidation, providing insights into healthcare technology.
Upma Sharma, PhD: Medical, Biomaterials President at Arsenal Medicine, contributing expertise in medical applications.
Sidney McLaurin: Partner, involved in investment strategy and portfolio management.
Natalie Wisniewski, PhD: Company Building Partner, focusing on operational support for startups.
Wendy Shao: Company Building Partner, enhancing startup growth strategies.
Randy Allen, PhD: Company Building Partner, specializing in advanced materials.
To pitch Material Impact, founders should utilize the contact email info@materialimpact.com or submit through their website. A well-structured pitch deck is essential, including details on the technology, market opportunity, competitive landscape, and team background. Material Impact prefers to see clear articulation of the problem being solved and the innovative approach taken.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial but not strictly necessary. The firm values direct communication and clarity in pitches, so ensuring that all relevant information is included will enhance the chances of a favorable response.
Material Impact has launched the Materialize New York accelerator, which engages the academic ecosystem to facilitate the transition of advanced technologies from academic research to startup formation. This program aims to support early-stage companies in developing their innovations and bringing them to market.
Eligibility for the accelerator typically includes having a technology that demonstrates significant potential for impact in the materials science sector. Interested parties can apply through the Material Impact website for more information on the application process.
In October 2023, Material Impact announced the closing of Fund III at $352 million, which was oversubscribed and attracted investments from various prestigious sources, including university endowments and family offices.
In 2023, Debut Biotech, a portfolio company, raised $34 million in Series B funding and was recognized as one of TIME100 Most Influential Companies.
Material Impact has also been active in publishing content related to venture capital and material science innovations, including a newsletter and blog articles, showcasing their commitment to fostering innovation in the materials science sector.
The firm launched the Materialize New York accelerator to support the transition of advanced technologies from academic research to startup formation, further solidifying its role in the venture capital landscape.
What are Material Impact's investment criteria?
Material Impact focuses on inception-stage companies that are pioneering innovations in material science across various sectors, including healthcare, energy, and agriculture. They seek companies that address significant real-world problems related to essential human needs.
How can I pitch to Material Impact?
Founders can pitch Material Impact through their website or by emailing info@materialimpact.com. It is recommended to include a clear overview of the technology, market potential, and team background in the pitch deck.
What makes Material Impact different from other VCs?
Material Impact specializes in material science innovations and acts as the first institutional check for its portfolio companies. Their deep expertise in materials science allows them to provide strategic guidance and support to help companies transition from lab research to commercial success.
What is the geographic focus of Material Impact?
The firm primarily invests in companies located in North America, particularly in the United States.
What is the typical check size for investments?
Material Impact typically invests between $1 million and $10 million in its portfolio companies, leading early funding rounds.
What kind of post-investment support does Material Impact provide?
Material Impact offers ongoing support to its portfolio companies, leveraging the extensive expertise of its partners in materials science and entrepreneurship to help guide companies through their growth phases.
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