Anzu Partners has closed its debut tech fund at $128.four million and plans to put money into something however the subsequent Fb, CNBC has realized.
Anzu Companions’ Whitney Haring-Smith, who co-founded the agency with David Michael and David Seldin, advised CNBC, “We plan to put money into non-public corporations with breakthroughs within the M’s — supplies, manufacturing, measuring, monitoring and modeling. Corporations in these industries would in all probability by no means develop into a family model title. However they impression every thing in and round the home out of your automotive to the gadgets in your kitchen or drugs cupboard.”
The agency has been investing under-the-radar in a mixture of enterprise and personal fairness offers since 2014, however had not raised a big fund of pooled capital for offers till this yr. Its portfolio consists of: Nuburu, a maker of high-powered blue lasers used for precision welding in aerospace and electronics; SLIPS Technologies, which makes tremendous slippery coatings used to maintain industrial tools clear; and OTI Lumionics, a maker of OLED supplies that go into high-definition shows.
Beforehand Anzu arrange “particular objective automobiles,” drawing collectively a mixture of household places of work and high-net price people to again early-stage start-ups or to take divestitures (a.ok.a. spin-outs) from Fortune 500 corporations.
Now that Anzu Companions has extra dry powder for fairness offers, the agency can be including personnel and advisors with a extremely technical background to scout offers, together with from prime universities within the U.S. and Canada.
“We’re extra more likely to rent a chemical engineer than an MBA,” Haring-Smith mentioned.
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