MassVentures

MassVentures is a Massachusetts-based venture capital firm and one of the oldest venture funds in the world. Founded in 1978 as the Massachusetts Technology Development Corporation (MTDC), it was established as a quasi-public corporation by the Commonwealth of Massachusetts to address the capital gap for startup companies and to encourage the growth of early-stage technology firms. Its enabling and governing legislation is Chapter 40G of Massachusetts General Laws, as amended in 1993 and 2002. Initial funding came from a $2 million grant from the Economic Development Administration (EDA), a division of the U.S. Department of Commerce. From 1980 through 2015, MassVentures received an additional $1 million from the EDA and $8.5 million net from the Commonwealth. In 2020, the EDA awarded MassVentures $500,000 under the CARES Act, and in 2022 it received additional federal funds through SSBCI v2.0 from the Department of Treasury. MassVentures focuses on deep tech, helping academic spinouts and seed-stage companies in Massachusetts drive breakthroughs in quantum computing, clean energy, AI, biotech, advanced materials, and more. It provides funding, mentorship, and strategic guidance to turn bold ideas into transformative businesses. The firm operates an evergreen venture fund that uses gains from past investments as the primary source of funds for its operations and investments. It also manages a variety of non-dilutive grant programs, including the Catalyst & Academic Activator program, which accepts applications for funding rounds. Over its history, MassVentures has funded more than 190 companies, which have collectively raised over $4 billion in follow-on capital. Its investment thesis emphasizes that "Diverse Teams Outperform®," and it actively backs diverse founding teams. In 2025, 82% of its investments were in diverse founding teams, and 64% were in startups outside Boston and Cambridge. It has awarded over $17 million to underrepresented founders and underserved regions. MassVentures is headquartered in Waltham, Massachusetts, and operates as a profitable enterprise by managing non-dilutive grant programs alongside its venture fund.

MassVentures was founded in 1978 when there were fewer than 20 venture capital firms in the world. Formerly known as the Massachusetts Technology Development Corporation (MTDC), it was established as a quasi-public corporation by the Commonwealth of Massachusetts to address the capital gap for startup companies and to encourage the growth of early-stage technology firms. Its enabling and governing legislation is Chapter 40G of Massachusetts General Laws, as amended in 1993 and 2002. Initial funding came from a $2 million grant awarded by the Economic Development Administration (EDA), a division of the U.S. Department of Commerce. From 1980 through 2015, MassVentures received an additional $1 million from the EDA and $8.5 million net from the Commonwealth. In 2020, the EDA awarded MassVentures $500,000 under the CARES Act, and in 2022, MassVentures received additional federal funds through SSBCI v2.0 from the Department of Treasury. MassVentures' primary mechanism for creating economic impact is its venture fund, through which it has supported hundreds of companies with capital and thousands more with business guidance over the past decades. This fund is managed as an "evergreen fund" which uses gains realized from past investments as the primary source of funds for its operations and investments. The firm's success is driven by its people and its hands-on approach to supporting founders with advice and introductions to employees, customers, and capital. MassVentures operates as a profitable enterprise by managing a variety of non-dilutive grant programs. It is one of the oldest and longest-running venture capital firms in the world, but its achievements come in part from doing things differently than traditional venture capital. Over its history, MassVentures has funded more than 190 companies, which have collectively raised over $4 billion in follow-on capital. Its investment thesis emphasizes that "Diverse Teams Outperform®," and it actively backs diverse founding teams. In 2025, 82% of its investments were in diverse founding teams, and 64% were in startups outside Boston and Cambridge. It has awarded over $17 million to underrepresented founders and underserved regions. The firm continues to accept applications for its Catalyst & Academic Activator program, with a Fall 2026 funding round deadline of September 30th.

• 2022

  MassVentures received additional federal funds through SSBCI v2.0 from the Department of Treasury.

• 2020

  EDA awarded MassVentures $500,000 under the CARES Act.

• 2002

  Chapter 40G of Massachusetts General Laws amended again.

• 1993

  Chapter 40G of Massachusetts General Laws amended.

• 1980

  Beginning of additional EDA and Commonwealth funding period (through 2015).

• 1978

  MassVentures founded as the Massachusetts Technology Development Corporation (MTDC) by the Commonwealth of Massachusetts.

One of the world's oldest venture funds, focused on deep tech and diverse founding teams in Massachusetts.

• Evergreen venture fund

  Uses gains from past investments as primary source of funds for operations and investments.

• Catalyst & Academic Activator

  Non-dilutive grant program accepting applications for funding rounds.

• 2026-10-28

  Emvolon announces $22 million Series A funding round[4]Emvolon宣布获得2200万美元A轮融资hydrocarbonprocessing.com

  Emvolon announced a $22 million Series A funding round with participation from MassVentures, VX Ventures, Wagner Carbon and others. The company said the funds would support delivery of its first commercial-scale modular chemical system and organizational growth.

1. 1MassVentures - Fueling Early Stage Companies in Massachusettsmass-ventures.com
2. 2Historymass-ventures.com
3. 3MassVentures (United States)wikidata.org
4. 4Emvolon宣布获得2200万美元A轮融资hydrocarbonprocessing.com