Maroon Ventures Launches Second Fund, Completes Initial Round of Investments

Seven years after launching its first fund to invest in early stage companies linked to UMass Amherst, Maroon Venture Partners has formed its second fund and completed an initial round of investments-providing capital to an optics firm founded by a faculty member and additional funding to a seed-based food manufacturer co-founded by an alumna. <_o3a_p>

The new fund, which has received commitments of $3.2 million and seeks to raise a total of $5 million to support innovation and entrepreneurship throughout the university community, has invested in Myrias Optics, an emerging developer of all-inorganic printed meta-optics, founded by professor James Watkins; and 88 Acres, a Boston-based venture specializing in allergen-friendly protein bars and butters, co-founded by Nicole M. Ledoux '01. <_o3a_p>

The fund is a successor to Maroon Venture Partners Fund I, which invested nearly $5 million in 13 companies led by UMass Amherst faculty, students and alumni, also including 88 Acres. Several others are also on their way toward significant commercial success, including Aclarity Inc., which has developed water purification technology to destroy PFAS, known as "forever chemicals." <_o3a_p>

Day-to-day operations of the new fund are overseen by Charlie Johnson, faculty member at the Isenberg School of Management, who is a member of the investment committee along with John Brooks, Nancy Confrey, Mike Masterson, Ameeta Soni and Steve Willis. The fund provides opportunities for UMass Amherst student engagement, particularly in market research and other due diligence required on prospective investments. <_o3a_p>

Maroon's investments are typically in the range of $100,000 to $300,000 and are often a venture's initial outside equity funding. "We look for companies that can use our capital to accomplish significant milestones toward further rounds of capital and commercial success," Johnson says. <_o3a_p>

Like its predecessor, Maroon II is a for-profit, return-on-investment-driven venture fund. However, a notable distinction in the new fund's structure allows a portion of profits to be rolled up into successor funds, aiming to create a perpetual investment stream to support the growing spirit of entrepreneurship and innovation in the UMass Amherst community. <_o3a_p>

Additional information can be found at https://www.maroonventurepartners.com/. <_o3a_p>