Future Ventures

Future Ventures is a San Francisco-based venture capital firm founded by Steve Jurvetson and Maryanna Saenko. The firm has built a reputation over 25 years for backing visionaries who push the boundaries of possibility in frontier technologies.

This comprehensive guide covers everything you need to know about securing funding from Future Ventures, including their investment thesis, portfolio companies, typical check size, and strategies for successfully pitching your startup.

Future Ventures operates two distinct funds: their flagship $200 million Fund 1 focused on seed and early-stage investments, and a $169 million AI-focused fund launched in 2024. The firm seeks out passionate founders forging the future in technologies that have the potential to reinvent entire industries.

Understanding Future Ventures's approach to deep tech investing is crucial for founders seeking capital. The firm combines technical due diligence with a willingness to take calculated risks on promising teams and technologies in complex industries where credibility is paramount.

Beyond capital, Future Ventures provides portfolio companies with access to their extensive network of founders, industry experts, and strategic partners. The firm's partners have led founding investments in several companies that achieved successful IPOs, with acquisitions totaling over $16 billion in aggregate.

Future Ventures maintains a clear investment thesis centered on frontier technology and deep tech. The firm seeks out passionate founders building transformative companies in sectors that have the potential to reinvent entire industries.

The firm's sector focus spans commercial space exploration, deep learning, quantum computing, robotics, artificial intelligence, blockchain, sustainable transportation, synthetic biology, and clean meat alternatives.

Future Ventures typically invests at the seed and Series A stages, with the occasional Series B. The firm prefers to lead or co-lead rounds, providing not just capital but also strategic guidance and operational support to help portfolio companies succeed.

The investment philosophy at Future Ventures centers on long-term partnership with founders who demonstrate deep domain expertise and a clear vision for disrupting existing markets. The firm conducts rigorous due diligence in complex industries and places particular emphasis on evaluating team credibility.

Unlike venture capital firms that focus primarily on financial returns, Future Ventures takes a comprehensive view that considers the broader impact of its investments on industries and society. The firm's mission-driven approach attracts founders who are building companies with purpose beyond pure profit.

Future Ventures has built relationships with top-tier founders and other investors over 25 years, ensuring access to the most promising opportunities in the frontier tech space. This network, combined with the partners' technical backgrounds, allows the firm to provide uniquely informed guidance to portfolio companies.

Future Ventures operates two distinct funds targeting different segments of the deep tech ecosystem. Their flagship Fund 1 is a $200 million vehicle focused on seed and early-stage investments in trailblazing, purpose-driven entrepreneurs.

In 2024, the firm launched Future Ventures AI, a $169 million fund specifically targeting artificial intelligence companies. This marks the firm's first explicitly AI-focused fund and reflects their continued conviction in AI as a transformative technology.

The firm has continued to maintain active investment pace, deploying capital across multiple sectors and stages. Recent investment activity demonstrates commitment to the core thesis while exploring new sectors and geographies.

Future Ventures has participated in several notable funding rounds, often leading or co-leading deals with other prominent venture capital firms. The firm's ability to make timely investment decisions has been a key factor in its success.

In addition to new investments, Future Ventures has been active in supporting its existing portfolio companies through follow-on rounds. This continued support demonstrates the firm's commitment to long-term partnerships with founders.

The firm's investment process moves efficiently, with most decisions made within approximately one month from initial meeting to term sheet. This speed is particularly valuable in competitive deal environments where timing can be critical.

Future Ventures's portfolio demonstrates the firm's ability to identify and support winners across multiple deep technology sectors. The partners have led founding investments in several companies that achieved successful public offerings, with aggregate acquisitions exceeding $16 billion.

SpaceX represents one of the firm's most notable current board positions. The commercial space exploration company has fundamentally transformed the aerospace industry and demonstrated the viability of reusable rocket technology at scale.

Tesla, another current board position, has become a leading electric vehicle and clean energy company. Future Ventures was an early backer of the company's vision for sustainable transportation.

D-Wave, the quantum computing company, reflects the firm's willingness to invest in technologies that push the boundaries of what is computationally possible. The firm's quantum computing investments date back decades.

Commonwealth Fusion Systems represents Future Ventures's bet on the future of energy. The company is working to commercialize compact fusion technology that could transform the global energy landscape.

Other notable portfolio companies include the Boring Company (tunneling and infrastructure), Upside Foods (cultivated meat), Planet Labs (earth observation satellites), and a range of other companies across AI, robotics, and sustainable transportation.

Future Ventures evaluates potential investments based on several key criteria, with particular emphasis on the founding team. The firm looks for entrepreneurs with deep industry knowledge, proven execution ability, and a clear vision for disrupting existing markets.

Technical credibility is especially important given the firm's deep tech focus. Founders must demonstrate a strong understanding of the technical complexities of their industry and the ability to navigate the unique challenges of frontier technologies.

Market opportunity is assessed through comprehensive analysis of market size, growth trajectory, and competitive dynamics. The firm seeks companies addressing large, growing markets with clear paths to monetization and significant upside potential.

Product differentiation is another critical factor in Future Ventures's investment decision process. The firm seeks companies with unique intellectual property, proprietary technology, or novel approaches that create sustainable competitive advantages.

Mission alignment matters to Future Ventures. The firm is explicitly purpose-driven and looks for founders who are building toward something beyond pure financial returns. This alignment creates a stronger foundation for long-term partnership.

Scalability is carefully evaluated. The firm prefers companies with business models that can scale efficiently without proportional increases in costs. This scalability is often a key determinant of long-term success in deep tech.

Securing a meeting with Future Ventures requires a strategic approach. The firm receives thousands of pitch decks each year, so making your submission stand out is essential for getting noticed.

Warm introductions remain the most effective way to connect with Future Ventures. The firm is more likely to meet with founders who come recommended by portfolio CEOs, other trusted investors, or respected members of the entrepreneurial community. Building relationships before pitching can significantly improve your chances of securing a meeting.

Future Ventures also accepts cold submissions through their website, but warm introductions from the venture community are strongly preferred and typically receive higher priority.

When preparing for your meeting with Future Ventures, be ready to discuss your technology in depth. Given the firm's deep tech focus, expect technical due diligence questions and be prepared to speak to the complexities of your industry.

The firm's investment process moves from initial meeting to decision in approximately one month. Maintaining communication without being overly pushy during this period is important.

Building a long-term relationship with Future Ventures can be valuable even if your current fundraising round does not result in an investment. The firm may be interested in future rounds or can provide valuable introductions to other investors.

While Future Ventures invests in early-stage companies, they expect founders to have a solid handle on their financials. This includes understanding your burn rate, runway, unit economics, and path to profitability.

For deep tech companies in particular, investors want to see that you understand your business's financial mechanics and have realistic expectations for how you'll use the capital you raise. Deep tech often involves longer development timelines and higher capital requirements.

Working with a fractional CFO can significantly improve your chances of securing funding. Professional financial guidance helps you build accurate projections, prepare investor-ready financials, and confidently answer due diligence questions.

Our team has helped numerous companies raise venture capital and would be happy to discuss how we can support your fundraising efforts. From pitch deck financials to comprehensive financial models, we ensure you're prepared for the investment process.

Financial projections should be realistic and grounded in evidence. Future Ventures will scrutinize your assumptions, particularly around technical milestones and capital requirements specific to deep tech development cycles.

Understanding your key performance indicators is essential when pitching to Future Ventures. The firm will want to see that you track the metrics that matter most to your business and can explain trends in your performance.

Whether you're preparing to pitch Future Ventures or other top VCs, having professional financials can set you apart from the competition. Our team has helped companies raise understands what investors look for in financial presentations.

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