About This Fund
SUP Ventures II, L.P. is the second early-stage venture capital fund managed by UP.Partners, a Santa Monica, California-based investment firm founded in 2019 by Ben Marcus, Cyrus Sigari, and Adam Grosser. Targeting a raise of $230 million — matching the size of its predecessor — the fund continues the firm's mission to back founders building the enabling technologies that will transform how people and goods move across land, air, sea, and space. UP.Partners brings together engineers, pilots, industrialists, and global corporate partners to identify and accelerate innovations at the intersection of artificial intelligence and the physical world.
SUP Ventures II concentrates exclusively on seed and Series A investments in hardware-enabled AI and intelligent physical systems. Its portfolio thesis spans aerospace and eVTOL aviation, autonomous robotics and humanoids, advanced manufacturing, logistics and supply-chain software, energy systems, space infrastructure, and defense technologies. The fund's core conviction is that AI is undergoing a structural shift from software-native applications toward physical embodiment — where the most durable companies combine deep software intelligence with complex hardware. UP.Partners' corporate LP base, which spans aviation, maritime, automotive, and industrial sectors, provides portfolio founders with direct deployment channels and commercial validation at scale.
The fund builds on the track record of SUP Ventures I, L.P., UP.Partners' inaugural $230 million fund, which closed in October 2021 and attracted strategic investors including Alaska Air Group, ARK Invest (led by Cathie Wood), Woven Capital (Toyota's Woven Planet Group), Standard Industries, Hillwood (a Perot Company), and OSM Maritime. The predecessor fund assembled a portfolio of early-stage companies developing eVTOL aircraft, AI-powered checkout-free payment systems, hydrogen-powered aviation fuels, and last-mile logistics platforms, demonstrating UP.Partners' ability to source and support the most capital-intensive frontier technology companies at their earliest stages.