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MassVentures

As one of the world’s oldest venture funds, we help early-stage innovators with funding, mentorship, and strategic guidance to turn bold ideas into transformative businesses.

Waltham, MA, USA

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Description

MassVentures is the Commonwealth’s strategic venture capital team, headquartered in Boston, Massachusetts. Established in 1978, it is a quasi-public corporation that invests in early-stage, high-growth technology companies to drive economic development, job creation, and the commercialization of deep tech within the state. 
  • Seed & Series A: MassVentures typically acts as the "first institutional check" for startups.
  • Deep Tech focus: They specialize in bridging the "valley of death" for highly technical startups transitioning from laboratory research to commercial viability.
  • Grant Stage: They also manage non-dilutive grant programs for even earlier-stage research-based startups. 
  • Method: Founders can apply through the MassVentures website or via the START Program portal for grant-based funding.
  • Selection Criteria: They seek "capital-efficient" companies with proprietary technology. A key requirement is that the technology must be "hard to replicate" (Deep Tech).
  • Materials: A professional pitch deck, an executive summary, and for the START program, evidence of a prior federal SBIR/STTR Phase I or II award.
  • START Program 2026:
    • Application Launch: Typically opens in January/February 2026.
    • Deadline: Usually closes in March 2026.
  • Equity Fund: Operates on a rolling basis year-round; there are no fixed cohort deadlines for equity investments.

Eligibility

  • Geography: Strictly limited to companies headquartered in Massachusetts with a significant majority of operations in the state.
  • Sectors: ClimateTech, Robotics, Advanced Materials, Life Sciences, Cybersecurity, and Marine Tech.
  • Business Profile: Startups must demonstrate high-growth potential and the ability to create high-wage jobs in Massachusetts. 

Process

  1. START Program (Grants): A three-stage annual process (Stage I, II, and III) that provides increasing non-dilutive funding to SBIR/STTR winners.
  2. Equity Investment: A traditional VC vetting process involving an initial screening, technical due diligence, and a presentation to the Board of Directors.
  3. Active Partnership: Post-investment, they provide "high-touch" support, helping with executive recruitment, board development, and future fundraising. 

What an Applicant can Obtain

  1. Direct Equity Capital: Funding to scale operations and reach commercial milestones.
  2. Non-Dilutive Grants: Through the START (SBIR Target Technologies) program, founders can receive grants to accelerate commercialization without giving up equity.
  3. Ecosystem Connectivity: Direct introductions to Massachusetts research universities, state agencies, and private Tier-1 VCs.
  4. Strategic Mentorship: Access to a network of seasoned operators and technical advisors.