In an unexpected move, five deep tech investors from Anzu Partners, Hitachi Ventures, Myriad Venture Partners, and SkyRiver Ventures, teamed up with a real estate consultancy head to create a cooperative investment group. This decision comes as a surprise, marking a shift away from the usual competition in favor of collaboration.
Hyuk-Jeen Suh of SkyRiver conceived the group, with the goal of replicating the collaborative focus of Boston-based Greentown Labs. Suh envisions a vast network of tech startups and corporate investors co-developing the next wave of tech solutions. The collaboration promises considerable progress in the rapidly advancing tech sphere.
The venture capital world is known for its competition and secrecy, but deep tech investment involves a different approach. Given their complexity and resources-demanding nature, deep tech startups tend to encourage mutual cooperation, information sharing, and collaboration. The focus is not only on financial success but also on creating a supportive climate to drive significant advancements in the field.
Furthermore, deep tech startups often tackle society’s significant challenges like climate change and health crises. As such, the collective goal of addressing these pressing issues often takes precedence over individual financial gains, further endorsing the need for collaboration over competition.
Operating similarly to a syndicate, the newly formed group shares leads and insights among members and distinguishes itself through its more formal structure and a physical space for meeting. This setup fosters advanced idea exchange, encourages creative organic discussions, and promotes transparency and accountability.
The group welcomes new members, particularly those with an interest in startup investments. They believe fresh perspectives could bring valuable insights. As such, startup investors looking for an opportunity to collaborate and share ideas are welcome.
This trailblazing initiative represents a significant shift in the traditional venture capital practice, highlighting the value of collective wisdom and collaboration. By endorsing shared knowledge and teamwork over competition, they hope to stimulate innovation and potentially set a new standard in the deep tech investment realm.
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Author: Amna Faryad
