Loup Ventures, a new VC tech fund split between Minneapolis and New York, has made its first public investment just weeks after coming out.
A news release issued by Cambridge, Massachusets-based Neurable on December 22, 2016 says that Loup participated in their $2m seed round around alongside others.
Neurable develops brain-computer interface (BCI) software to literally tap the human mind and bring a new dimension of real time thought and hands free interaction to VR & AR. It’s a similar concepty to the non-invasive BCI research happening inside the U of M currently, although commercialized and applied differently.
The investment is consistent with Loup’s stated areas of interest, including: VR/AR, AI, and robotics.
Expected to launch this month, Loup is split between Minneapolis and New York, with former Piper Jaffray / Apple Analyst Gene Munster (SFO) at the helm alongside partners Douglas Clinton (NYC) and Andrew Murphy (MPLS).
Even with just one foot in the lake, Loup enters Minnesota as the default source of capital for such emerging markets. Brightstone Venture Capital would be the next closest given their VR interests, followed by Omphalos Venture Partners, which has previously invested in robotics and related software.
There are no specific fund details yet for Loup, although it’s reassuring for all involved whenever a new fund begins moving money to entrepreneurs quickly like Loup has.