Top 16 US Deep Tech & AI Venture Capital Firms [2023] (2024)

Whether you are raising seed, Series A or higher, in this article we have listed our top picks of the best venture capital firms for Deep tech, IoT & AI startups.

So, if you haven’t yet started to reach out, here is a good place to start learning about them.

Note: this article is part of a series where we present you the top Venture Capital firms across the world. Have a look atthe complete listhere.

Top Venture Capital Firms For Deep Tech & AI Startups In The US

Here’s a summary of our top 16 picks for the best venture capital firms for AI & Deep tech startups in the US (in alphabetical order):

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1. Lux Capital

Location: New York, Menlo Park

Lux Capital is a big and recognized venture capital firm. This venture capital firm is operational in both New York and Menlo Park. Lux Capital offers Seed and Series A venture funding to selected companies operational in the Deep Tech sectors.

As far as the check size is concerned, this venture capital firm usually writes a check of anywhere between $100k and $100M depending on the company’s stage and requirements.

So far, Lux Capital has invested in 172 companies, some of which are Aeva, Auris, Desktop Metal, Recursion, SailDrone, and Matterport, among others.

2. Mass Ventures

Location: Boston

Mass Ventures is a strategic venture capital firm in Boston that focuses on early-stage companies that can fuel economic growth in the Commonwealth. They deal only with deep tech companies.

This venture firm offers Seed funding, but they do not disclose the amount they invest.

Apart from providing funds, Mass Ventures also offers mentoring, technical expertise and support, and access to non-dilutive grants.

So far, this venture capital firm has invested in 21 companies with some notable names like inkbit, KYTOPEN, fairmarkit, Adden Energy, etc.

3. PJC

Location: Boston

PJC is one of the most prominent venture capital firms in Boston. Though it primarily focuses on companies operating in AI, Consumer, and Enterprise sectors, this venture firm is open for investments in other sectors, too.

The firm does not disclose the exact investment amount, apart from proving Seed and Series A funding, they also offer hands-on mentorship through domain expertise, and unlimited access to industry experts.

Some of the most prominent portfolio companies of PJC include Openly, Lively, Appcast, Evergage, Eden Health, Health E-Commerce, etc. So far, PJC has invested in 59 companies across 14 US states.

4. ff Venture Capital

Location: New York City, Warsaw

Another prominent venture capital firm with over 140 investments so far is ff Venture Capital. With a physical presence in NYC and Warsaw, this venture capital firm invests in companies that operate in the Fintech, AI, and Robotics sectors.

ff Venture Capital offers Seed and Series A investments to the selected companies, and it usually writes a check of $300k to $700k. Some of the many companies that this venture capital firm has invested in include 500px, Deem, Jazz, Livefyre, Omek, Pear, Plated, Quigo, and Ionic, among others.

5. Ocean Azul Partners

Location: Miami

Ocean Azul Partners is a famous Miami-based venture capital firm that works with early-stage startups. Though they are inclined towards deep tech and B2B software, they regularly invest in other tech-enabled startups.

This VC firm offers Seed and Series A funding with the average investment ranging between $200k and $2M. However, the venture capital firm maintains a long-term partnership by maintaining a board seat in every company they invest in.

So far, Ocean Azul Partners has invested in 31 companies with some recognizable names like BabySparks, TaxFyle, Cohealo and Itopia.

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6. Two Sigma Ventures

Location: New York City

With 84 investments so far, Two Sigma Ventures is undeniably one of the most popular venture capital firms operating in New York City. This venture capital firm offers Seed to Series A+ funding, however, the firm primarily focuses on Series A.

Two Sigma Ventures offers venture funding to any company that uses computer vision, machine learning, artificial intelligence, and/or data science. Thus, one can safely say that this venture firm is sector agnostic as long as the companies are tech-enabled.

This venture firm writes a check of $5M to $10M for every company it selects for investment. Some of the many companies that Two Sigma Ventures has invested in include 3DR, Amper Music, Anomalo, Brella, Bark, Comet, Dynasty, Eave, and Enigma, among others.

7. SRI Capital

Location: Philadelphia

SRI Capital is a popular venture capital firm offering Series A funding to companies working in enterprise SaaS and Deep Tech sectors. The exact investment they make is not known, but they do take a small equity share against their investments.

They offer valuable support to the portfolio companies through active board representation. The VC firm takes special interest in companies building technology and application for the global marketplaces with built-in scalability.

One of their primary criteria for investing is that the companies should have a revenue of at least $1M.

Some of the most prominent portfolio companies of the firm include healthify, DreamVu, Fakespot and many more.

8. Flying Fish Partners

Location: Seattle

Flying Fish Partners is a famed Seattle-based venture capital firm that invests in software startups. They are more interested in IoT, cloud computing, machine learning, and artificial intelligence.

This venture capital firm offers Seed funding to selected startups, but unfortunately, they do not disclose the exact investment amount on their website.

Apart from funding, Flying Fish Partners also provides support to its portfolio companies in the form of technical and operational expertise that they possess.

So far, the venture capital firm has invested in 24 companies. Some of the most notable portfolio companies of Flying Fish Partners are Tomorrow, Element Data, Streem, Gradient, Venture Out, Finn AI, and Variational AI.

9. DC Ventures

Location: Washington D.C.

DC Ventures is a prominent venture capital firm in Washington D.C. This venture capital firm invests in startups working in IoT, Social Media, Experience Economy, Online Media, e-Commerce, and Fintech sectors.

It is important to note that DC Ventures offers Seed funding, and they typically invest between $10,000 and $100,000. Apart from direct investment, the firm also offers mentorship and advisory services along with access to its vast network of industry experts.

So far, DC Ventures has invested in 14 companies such as Parra Payments, Himitsu Kichi, Peimento, Charquiqui, and Culhaminal Productions among others.es

10. Startup Capital Ventures

Location: Menlo Park, Hawaii

Startup Capital Ventures is headquartered in Menlo Park, San Francisco. However, it also has a physical presence in Honolulu, Hawaii.

This venture capital firm primarily focuses its investments on companies operating in the Silicon Valley, but it also invests in companies operating in Hawaii and other places in the United States.

Startup Capital Ventures offers Seed and Series A investments, and usually writes a check of anywhere between $250k and $1M. The firm primarily invests in companies in the FinTech, SaaS, Security, Healthtech, and IoT sectors.

So far, this venture capital firm has invested in 35 companies, some of which are Zero, Kuprion, Hobnob, WootCloud, SilverTail Systems, Area Metrics, and WhiteHat Security, among others.

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11. Arizona Tech Investors

Location: Phoenix

Located in Phoenix, Arizona Tech Investors is a leading venture capital firm that focuses on startups working in Life Sciences and IT sectors. To be more specific, this venture capital firm invests in Software, MedTech, EdTech, Greentech, and IoT companies.

The firm offers Seed and Series A funding to selected portfolio companies, but unfortunately, it does not disclose the exact investment amount on its website.

So far, the venture capital firm has invested in 17 companies. Some of their most notable portfolio companies are Pillir, Aural Analytics, BabyPage.com, Desert Angels, GT Medical Technologies, PainQX, Botco.ai, Defendry, and Qwick.

12. ABB Technology Ventures

Location: Washington D.C.

ABB Technology Ventures is a famous venture capital firm in Washington D.C. As the name suggests, the firm invests in startups in the technology sector with core focus areas being electric mobility, robotics, distributed energy, industrial IoT, cybersecurity, machine learning & AI, and smart building.

This venture capital firm invests in Seed to Series A+ rounds, however, they do not disclose the investment amount on their website. It is interesting to note that ABB Technology Ventures is the venture capital unit operated by ABB Group.

This venture capital unit of ABB Group has so far invested in 37 companies with FreeWire, Element Analytics, Hailo, Automata Technologies, etc., are some of the many active portfolio companies that the firm is currently working with.

13. Genacast Ventures

Location: Philadelphia

A prominent venture capital firm in Philadelphia, Genacast Ventures focuses on tech startups in the B2B sphere. They only focus on seed-stage companies. In addition to funding, Genacast offers the portfolio companies a deep network of investors and potential customers.

What is interesting is that Genacast Ventures also plays a vital role in the team building and hiring processes of portfolio companies. They focus only on tech companies in Frontier Technology, B2B Marketplaces, AI-Powered Enterprise, Disruptive Vertical SaaS, etc.

Some of the companies that they have invested in the past have been acquired by big names like Google, Datadog, Adobe, etc.

14. TechNexus Venture Collaborative

Location: Chicago

TechNexus Venture Collaborative is a popular venture capital firm that is active in Chicago. This venture capital firm invests in companies that operate in AI/ML, AR, VR, IoT, Analytics, and other Tech-enabled sectors.

This firm offers Seed and Series A investments, but unfortunately, the firm does not disclose the exact investment amount anywhere on its website. Apart from funds, TechNexus also offers critical insights and mentorship to its portfolio companies and helps them to grow and succeed rapidly.

So far, TechNexus has invested in 102 companies, some of which are 3AM Innovations, Artiphon, Amper, Beam Health, Dive Studios, Dot Dot Dot, First Due, and Perch, among others.

15. Eniac Ventures

Location: New York City, San Francisco

Eniac Ventures is a famous venture capital firm that operates in NYC and San Francisco. This firm offers seed funding to startups operating in the B2B, Consumer, Deep Tech, Fintech, Healthcare, Sustainability, and Web3 sectors.

The companies that Eniac Ventures selects for investment also get complete access to the Eniac platform and the firm’s four general partners. This venture capital firm works with its portfolio companies as partners and helps them to grow and succeed.

Unfortunately, Eniac Ventures does not disclose the exact investment amount anywhere on its website. So far, this venture capital firm has invested in 114 companies, some of which are Airbnb, Basket, Bedrock, Attentive, Boxed, Cameo, ChatGrid, Eden, and Hinge, among others.

16. Scalable Ventures

Location: Louisville

Louisville-based Scalable Ventures offers Seed and Series A funding to scalable software companies working in the B2B segment. In particular, this venture capital firm is interested in companies working in Analytics, Platforms, Marketplaces, AI/ML, Web3, SaaS Mobile and Web Apps, and E-Commerce segments.

Just like every other venture capital firm on this list, Scalable Venture doesn’t disclose the exact investment amount anywhere on its website.

So far, this venture capital firm has invested in 14 companies with some of them being Dianthus, MicroAcquire, ImageProVision, Capture, SentryHealth, SuperFan, and Talla. Interestingly, several of its portfolio companies have been acquired by other companies.

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