New Deep Tech Fund Wave Function Ventures Raises $15 Million
When it comes to deep tech, few names are making waves like Jamie Gull. The new deep tech fund Wave Function Ventures raises $15 million, marking a major milestone in early-stage investment for science-driven startups.
Image Credits:Wave Function Ventures
Founded by Gull, a Stanford-trained aerospace engineer and SpaceX alum, Wave Function Ventures aims to back founders building bold technologies across nuclear energy, robotics, and aerospace. The fund’s $15.1 million close signals growing investor confidence in deep tech innovation.
From SpaceX Engineer To Deep Tech Investor
After earning his master’s in aeronautics from Stanford in 2007, Gull set his sights on the Mojave Desert — home to Scaled Composites, a company known for pioneering experimental aircraft. He joined their ranks to work hands-on, rather than spending years in slow-moving corporate aerospace roles.
That drive to build fast and impactfully led him to SpaceX, where Gull helped make the Falcon 9 rocket reusable — a breakthrough that reshaped modern spaceflight and turned SpaceX into a multibillion-dollar company.
Now, Gull’s mission has evolved: to empower the next generation of deep tech founders through Wave Function Ventures.
Inside Wave Function Ventures’ $15 Million Fund
The Wave Function Ventures $15 million fund has already made nine early investments across high-impact sectors like:
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Nuclear energy – Deep Fission
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Humanoid robotics – Persona AI
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Aerospace – Airship Industries
Gull says the fund plans to invest in about 25 startups, focusing on seed and pre-seed rounds. While he didn’t disclose the anchor limited partner (LP), he noted that the remaining capital came from high-net-worth individuals, other funds, and large family offices.
A Growing Wave Of Deep Tech Capital
The timing couldn’t be better. The deep tech funding landscape is heating up, fueled by renewed interest in aerospace, defense, and advanced manufacturing. Earlier this year, Silicon Valley-based Leitmotif announced a $300 million fund backed by Volkswagen Group — part of a broader effort to boost hardware and industrial innovation across the U.S. and Europe.
Wave Function Ventures joins this momentum, offering specialized support and capital to scientists and engineers transforming complex research into commercial products.
Looking Ahead: Building The Future Through Science
For Gull, Wave Function Ventures isn’t just another VC fund — it’s a platform to accelerate frontier innovation. His background in building reusable rockets and working on experimental aircraft gives him a unique lens on the challenges deep tech founders face.
“We want to help engineers own their outcomes,” Gull said, echoing the same motivation that drew him to Scaled Composites years ago. With Wave Function Ventures raising $15 million, the fund is now poised to shape the next era of scientific entrepreneurship.
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