Hardware

Glasswing Ventures Fund‑III is a venture capital vehicle targeting pre‑seed and seed‑stage investments in startups that are truly “AI‑native” and working at the frontier of enterprise software, cybersecurity and next‑gen computing. The fund closed at over $200‑million in commitments, significantly oversubscribed, reflecting strong investor confidence in the firm’s prior track record. The fund builds on Glasswing’s prior funds and history of investing in early stage (pre‑seed/seed) companies, often as lead or first institutional investor in enterprise B2B or security‑related technology. In doing so, the firm emphasises founders developing architectures, platforms and systems that embed AI or frontier tech rather than just “adding AI” as an after‑thought. In terms of value‑add, Glasswing deploys a 14‑person team of operators and builders, plus an advisory council of 62 members, to help portfolio companies with scaling, customer introductions and domain expertise. Fund‑III will invest in about 25 companies over its investment period. The thematic focus is very clearly laid out: the fund will invest in vertical AI (industry‑specific AI platforms), physical AI (autonomous systems in the real world), adaptive AI infrastructure, intelligent enterprise defense (cybersecurity) and next‑gen compute (distributed, quantum, massive scale infrastructure).

The firm’s second flagship vehicle, MVP Ventures II, is a $125 million early‑stage deep‑tech venture fund from MVP Ventures that expands the firm’s strategy to back founders at the intersection of AI, hardware and software. With this enlarged war chest, the fund emphasises a founder‑first philosophy: putting operations, recruiting, go‑to‑market strategy, regulatory navigation and follow‑on capital access at the centre of its support model. MVP Ventures II leverages a demonstrated track record (including top‑5% performance for Fund I and a 1.45× TVPI for this fund) to secure LP commitments and deploy capital into seed through early‑series rounds where the firm can become a persistent partner. The vehicle targets companies that are building differentiated and defensible technology in large markets, enabling meaningful value creation by pairing modest early checks with high‑impact operational backing rather than chasing only larger ticket sizes.

The Wellington Climate Innovation Fund seeks to invest in private companies developing solutions to help mitigate and adapt to climate change. The Fund targets late-venture and early-growth companies that are developing tech-enabled solutions such as software, software-enabled hardware, sensors, AI, data and analytics. These solutions are focused on areas including energy transition, sustainable buildings and cities, transportation and mobility, industrial automation, enterprise digitization, sustainable consumer, and food and agriculture innovation. The fund is located in Boston, Massachusetts. The Fund’s client base is broadly diversified and includes sovereign wealth funds, pensions, insurance companies, banks, family offices, and high-net-worth individuals. The Fund seeks to generate attractive returns for its investors while addressing the existential threat of climate change. The fund closed with US$385 million in commitments. The Fund is managed by Greg Wasserman and the CIF investment team, who have extensive experience investing in climate solutions. The team leverages Wellington’s broader investment, research, and sustainability capabilities in public and private markets, along with a research collaboration with leading climate change research institute, Woodwell Climate Research Center.