Matter Venture Partners Closes $450 Million Fund II

Gunderson Dettmer represented Matter Venture Partners in the formation of its second fund at $450 million. The new fund follows its $300 million inaugural fund, announced in March 2024. 

Matter Venture Partners, a Silicon Valley-based venture capital firm, will use Fund II to back early-stage HardTech startups across semiconductors, robotics and Physical AI, AI infrastructure, quantum computing, advanced manufacturing, energy building blocks, and AI for the advancement of science.

“Scaling HardTech startups requires navigating complex supply chains, manufacturing scaleup, technology partnerships, talent management, and customer relationships around the world,” said Wen Hsieh, Founding Managing Partner of Matter Venture Partners, in the announcement of the transaction. “At Matter, we’ve built a global network to extend our hands-on support to portfolio companies through our operating partners, advisors and limited partners in the U.S., Taiwan, Japan, Europe, Singapore, The Middle East, South Korea, and Mexico.”

The Gunderson team was led by Steve Franklin and Jonathan Goodwin and included Ben Buckwalter, Jaime Narayan, Zeynep Tekin, and Daryl Dietsche.