Science / Robotics / TC

Material Impact, a new fund focused on materials technology, just closed its debut fund with $110 million

Posted On: Nov 8, 2018   |   Posted By: TechCrunch

Material Impact , a Waltham, Ma.-based firm that says it “transforms materials into companies that make an impact,” has closed its debut fund with $110 million in capital commitments from a range of university endowments, foundations, family offices, and fund-of-funds.
In a sea of fundraising announcements, it's tempting to shrug off the development. Another new venture outfit? Big deal. But Material Impact isn't exactly typical, both because of its founders, and because of its thesis, which stands out amid many other firms that seem to be chasing almost exactly the same opportunities.
Cofounder Carmichael Roberts spent nearly a dozen years with the firm North Bridge Venture Partners, where he led deals and helped build companies that create new products by applying chemistry, materials science or materials engineering. He moved on to launch Material Impact a couple of years ago, when North Bridge was beginning to wind itself down .
Roberts's partner in Material Impact, Adam Sharkawy, had meanwhile served in...

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