Boston-based J2 Ventures has secured $150 million for its new fund and will use the capital to further invest in technology and health care startups with products that could support military and government agency customers.
The venture capital firm said Thursday the oversubscribed Argonne Fund attracted capital from financial institutions, including MetLife, JP Morgan and the New Mexico State Investment Council.
J2 Ventures invests in sectors critical to national security, including cybersecurity, advanced computing, health care, telecommunications and infrastructure, and helps startups secure funding and win contracts from government and military clients. The firm has invested in over 25 companies, including Aalyria, Lumia and Micron Biomedical.
“The growth of our portfolio, doubling down of existing LPs and attraction of some of the most sophisticated institutional investors as well is a great confidence boost that there is not only appetite for our model, but a strong and rapidly growing interest,” said Alexander Harstrick, managing partner of J2 Ventures.
In 2021, J2 Ventures raised $68 million for its maiden fund.
