Fitz Gate Ventures

Fitz Gate Ventures is an early-stage, network-driven venture capital firm established in 2015. The firm manages three venture capital funds with $70 million in assets under management, with Rice University serving as one of its anchor investors. Fitz Gate Ventures is a generalist fund with a particular emphasis on deep technology and hard technology, including tech transfer opportunities. They invest nationwide across the U.S., typically writing initial checks between $500,000 and $1 million, and reserving capital for follow-on rounds.

The firm's founding partners, Jim Cohen and Mark Poag, bring extensive experience to the venture capital landscape. Jim Cohen has a background in investment banking, corporate law, private equity, and M&A, while Mark Poag is a successful software entrepreneur with first-hand experience in growing and selling businesses. Both principals are actively involved in academia, teaching venture capital at Rice University's Jones School of Business and Princeton University's Graduate School. They also serve as mentors for various entrepreneurship programs, including Techstars NYC and the National Science Foundation I-Corps Hub.

Fitz Gate Ventures prides itself on its ability to independently source and identify promising startups, leading to top-quartile returns from its first two funds. Notable exits include Celestial AI, which was acquired by Marvell for $5.5 billion, and Quantum Circuits, Inc., acquired by D-Wave for $550 million. The firm's portfolio also features companies like Overtime, Optimal Dynamics, SmartAsset, Realworld, and Sensetics. Fitz Gate leverages its proprietary “Friends of Fitz” community, a network of hundreds of startup founders, venture capitalists, university professors, senior executives, and subject matter experts, to provide strategic advantages to its portfolio companies through deal flow, diligence, advice, and introductions.

The firm's investment strategy is highly selective, targeting the top 1-2% of companies it reviews, many of which are sourced through its trusted network. Their focus on deep tech and hard tech has yielded significant success, and they are known for leading, co-investing, or investing alone in rounds. Fitz Gate Ventures' commitment to fostering innovation extends beyond capital, with its principals actively contributing to the entrepreneurial ecosystem through teaching and mentoring.