New deep tech fund Wave Function Ventures raises $15 million

Jamie Gull, an aerospace engineer with a background at Scaled Composites and SpaceX, has launched Wave Function Ventures, an early-stage deep tech fund that recently closed its first $15.1 million fund. Gull has already invested in nine startups across sectors including nuclear energy, humanoid robotics, and aerospace, with plans to make about 25 seed or pre-seed investments. The fund’s limited partners include high net worth individuals, family offices, and other funds, though the anchor LP remains undisclosed. Wave Function Ventures enters the market amid growing interest and capital inflows into deep tech, especially in aerospace and defense, exemplified by other large funds like Silicon Valley’s Leitmotif. Gull’s extensive experience spans rapid prototyping, founding an eVTOL startup (Talyn Air), angel investing, and venture partnership at Y Combinator’s Pioneer Fund. He aims to leverage this expertise to support founders navigating the uncertain early stages of deep tech ventures. He believes deep tech startups