SOSV
{{short description|Venture capital firm}}
{{Infobox company
| name = SOSV
| logo = Sosv-logo.png
| type = Private company
| founder = Sean O'Sullivan
| industry = Venture capital and private equity
| foundation = 1995
| location_city = Princeton, New Jersey
| location_country = United States
| locations = Cork, New York City, Newark, Pune, Princeton, San Francisco, Shenzhen, Tokyo
| services = Venture funding
| num_employees = 100+
| num_employees_year = 2023
| owner =
| homepage = {{URL | www.sosv.com}}
}}
SOSV is an American venture capital firm that provides pre-seed, seed, Series A and later stage funding to deep tech startups that join its startup development programs, which are located in New York City, Newark, New Jersey, and San Francisco.{{cite web|last=Devitt|first=Niall|title=Bill Liao of SOSventures Discusses Exit Strategies & the Value of Brand Story at #nsclunchnlearn|url=http://www.bizsugar.com/Startups/bill-liao-of-sosventures-discusses-exit-strategies-the-value-of-brand-story-at-nsclunchnlearn-/|publisher=Bizsugar|accessdate=30 July 2013}}{{cite web |last1=Loizos |first1=Connie |title=SOSV, the global venture firm, just closed a $100 million fund to back its maturing startups |url=https://techcrunch.com/2021/06/11/sosv-the-global-venture-firm-just-closed-a-100-million-fund-to-back-its-maturing-startups/ |website=TechCrunch |date=June 11, 2021}}
SOSV was founded in 1995 by Sean O'Sullivan.{{cite web |last=Collins |first=Dylan |title=Founder Interviews: Sean O'Sullivan (SOSventures Avego) |url=http://mobile.businessinsider.com/founder-interviews-sean-o-sullivan-sosventures-avego-2012-3 |accessdate=22 July 2013 |publisher=Business Insider}} It is headquartered in Princeton, New Jersey, with additional offices in Cork, Pune, Shenzhen and Tokyo.{{cite web |last1=Gain |first1=Vish |title=SOSV raises $306m for climate and health deep-tech start-ups |url=https://www.siliconrepublic.com/start-ups/sosv-v-fund-climate-health-deep-tech-startups-sean-osullivan |website=Silicon Republic |language=en |date=April 17, 2024}}{{cite web |last1=Katie |first1=Fehrenbacher |title=SOSV raises $306m for climate and health deep-tech start-ups |url=https://www.axios.com/pro/climate-deals/2023/09/05/sosvs-no-or-low-capex-investing-play |website=Axios |date=April 17, 2024}}{{cite web |last1=King |first1=Kate |title=New York Gives $25 Million to Breathe Life Into City's Biotech Scene |url=https://www.wsj.com/articles/new-york-gives-25-million-to-breathe-life-into-citys-biotech-scene-1532005201 |website=Wall Street Journal |date=July 19, 2018}}{{cite web |last1=Heater |first1=Brian |title=SOSV is building a New Jersey HAX facility for industrial, healthcare and climate startups |url=https://techcrunch.com/2021/09/16/sosv-is-building-a-new-jersey-hax-facility-for-industrial-healthcare-and-climate-startups/ |website=TechCrunch |date=September 16, 2021}}
History
In July 2018, then governor of New York state Andrew Cuomo announced that the state would invest $25 million in an IndieBio facility in New York City. In January 2023, SOSV opened a 30,000 sq. ft. IndieBio NY at 7 Penn Plaza in Manhattan.{{cite web |last1=Baird-Remba |first1=Rebecca |title=How a VC Firm Set Up a Biotech Incubator in an Older Manhattan Building |url=https://commercialobserver.com/2023/07/7-penn-plaza-biotech-incubator/ |website=Observer Media |date=July 18, 2023}}
In December 2020, TechCrunch's former COO, Ned Desmond joined SOSV as senior operating partner.{{Cite web|title=TechCrunch ex-COO Ned Desmond has joined VC firm SOSV as senior operating partner|url=https://beamstart.com/content/128681/techcrunch-ned-desmond-sosv|access-date=2020-12-20|website=Startup News, Networking, and Resources Hub|language=en}}{{Cite web|title=The venture firm SOSV has hired former TechCrunch COO Ned Desmond to help grow its startups|url=https://social.techcrunch.com/2020/12/17/the-venture-firm-sosv-has-hired-former-techcrunch-coo-ned-desmond-to-help-grow-its-startups/|access-date=2020-12-20|website=TechCrunch|date=18 December 2020 |language=en-US}}
As of November 2021, SOSV has backed approximately 150 startups that are developing climate technologies, with a focus on the transport, supply chain, logistics, and agriculture sectors.{{Cite web |last=Srivastava |first=Moulishree |date=2021-11-14 |title=3 thoughts on India's climate tech ecosystem from William Bao Bean of SOSV |url=https://kr-asia.com/3-thoughts-on-indias-climate-tech-ecosystem-from-william-bao-bean-of-sosv |access-date=2022-08-12 |website=KrASIA |language=en}}{{cite web |last1=Shieber |first1=Jonathan |title=SOSV's burgeoning climate portfolio is worth nearly $6 billion as planetary health bets pay off |url=https://techcrunch.com/2021/04/22/sosvs-burgeoning-climate-portfolio-is-worth-nearly-6-billion-as-planetary-health-bets-pay-off/ |website=TechCrunch |date=April 22, 2021}}
In September 2021, the New Jersey Economic Development Authority announced that the state was investing $25 million to establish a HAX location in Newark, New Jersey.
The new 35,000 sq ft HAX office in Newark, New Jersey opened officially in April 2024.{{cite web |last1=Heater |first1=Brian |title=Here are the 30+ startups showcasing at HAX's May 1 Demo Day |url=https://techcrunch.com/2024/04/22/here-are-the-30-startups-showcasing-at-haxs-may-1-demo-day/ |website=TechCrunch |date=April 22, 2024}}{{cite web |last1=Bergeron |first1=Tom |title=How HAX is making Newark into global destination for hard tech startups |url=https://www.roi-nj.com/2024/04/30/tech/how-hax-is-making-newark-into-global-destination-for-hard-tech-startups/ |website=ROI-NJ |date=April 30, 2024}}
Investments
SOSV invests in startups that specialize in deep tech, including climate and health.{{cite web |last1=Kong |first1=Xavier |title=New SOSV program announces inaugural cohort |url=https://www.techinasia.com/sosv-program-orbit-startups-announces-inaugural-cohort |website=Tech in Asia |date=7 September 2022}}{{cite web |last1=Hernbroth |first1=Megan |title=Generalists head for the hills in Q2 |url=https://www.axios.com/pro/climate-deals/2022/07/26/climate-techs-most-active-investors-pitchbook-data |website=Axios |date=July 26, 2022}}{{cite web |last1=Betuel |first1=Emma |title=Meet the 13 startups in IndieBio's SF cohort, and discover what about each swayed investors |url=https://techcrunch.com/2022/01/13/meet-the-12-startups-in-indiebios-sf-cohort-and-discover-one-key-factor-that-swayed-investors/ |website=TechCrunch |date=January 13, 2022}} Notable companies within its portfolio include Opentrons, Formlabs, NotCo, Prolific Machines, unSpun, Neptune Robotics, Smartex, and BitMEX.{{cite web |last1=Hall |first1=Christine |title=NotCo gets its horn following $235M round to expand plant-based food products |url=https://techcrunch.com/2021/07/26/notco-gets-its-horn-following-235m-round-to-expand-plant-based-food-products/ |website=TechCrunch |date=July 26, 2021}}{{cite web |last1=Hall |first1=Christine |title=Cultured meat startup Prolific Machines unveils its ‘Henry Ford approach’ to cell growth |url=https://techcrunch.com/2022/09/14/prolific-machines-cultured-meat-cell-growth/ |website=TechCrunch |date=September 14, 2022}}{{cite web |last1=Warren |first1=Liz |title=Unspun Raises $7.5M for US-Based Robotic Manufacturing |url=https://sourcingjournal.com/denim/denim-brands/unspun-denim-robotic-manufacturing-custom-jeans-startup-seed-funding-299518/ |website=Sourcing Journal |date=September 8, 2021}}{{cite web |last1=Liu |first1=Coco |title=Underwater Robots Are Helping Maritime Shipping Clean Up Its Act |url=https://www.bloomberg.com/news/features/2024-03-26/underwater-robots-are-helping-maritime-shipping-clean-up-its-act |website=Bloomberg |date=March 26, 2024}}{{cite web |last1=Kamps |first1=Haje Jan |title=Smartex sews up $24.7M to put smarter eyes on textile manufacturing |url=https://techcrunch.com/2022/11/03/smartex-funding/ |website=TechCrunch |date=November 3, 2022}}
In 2020, SOSV closed its fourth fund totalling $277 million.{{Cite web|title=Global VC, SOSV secures $277 million in its fourth fund — looks to invest in early-stage deep tech startups|url=https://beamstart.com/content/123915/Global_VC_SOSV_secures_277_million_in_its_fourth_fund__looks_to_invest_in_earlystage_deep_tech_startups|access-date=2020-11-21|website=BEAMSTART - Business Community, Resources, & Opportunities|language=en}}
In 2021, SOSV closed a $100 million Select Fund.
In 2024, SOSV closed its fifth core fund, totalling $306 million.{{cite web |last1=Chant |first1=Tim De |title=SOSV founder says climate investing is a 'war effort' as firm closes $306M fund |url=https://techcrunch.com/2024/04/16/sosv-new-deep-tech-fund/ |website=TechCrunch |date=April 16, 2024}}
Programmes
SOSV runs the following programmes:
- HAX, a development program headquartered in Newark, NJ for startups focused on hard tech in categories including Industrial decarbonization, automation, robotics, and human health.{{cite web |title=HAX accelerator program to launch 100 businesses, help catalyze regional tech hub |url=https://engineering.princeton.edu/news/2021/09/19/hax-accelerator-program-launch-100-businesses-help-catalyze-regional-tech-hub |website=Princeton Engineering |date=September 19, 2021}}
- IndieBio, a startup development program centered on life sciences and addressing human and planetary health, with offices in New York City and San Francisco.{{cite journal|last=Gewin|first=Virginia|title=Biotechnology: Independent streak|journal=Nature|volume=499|issue=7459|pages=509–511|publisher=Naturejobs.com|doi=10.1038/nj7459-509a|pmid=23894751|year=2013|doi-access=free}}{{cite web |last1=Buhr |first1=Sarah |title=Biotech Accelerator IndieBio Bumps Funding To $250K Per Startup To Give Founders More Runway |url=https://techcrunch.com/2015/05/12/biotech-accelerator-indiebio-bumps-funding-to-250k-per-startup-to-give-founders-more-runway/ |website=TechCrunch |date=May 12, 2015}}
References
{{Reflist}}
External links
- [https://sosv.com/ Official website]
{{US Business Incubators}}
{{Private equity and venture capital}}
Category:Financial services companies established in 1995