HAX - Hands-On Venture Capital for Hard Tech
Investment Thesis
HAX is a specialized pre-seed venture capital program focused exclusively on hard tech startups solving humanity's biggest challenges in climate, industrial automation, and human health. HAX believes that the most transformative solutions come from founders deeply rooted in science and engineering who are building breakthrough technologies in the physical world. As part of SOSV, a global venture capital firm with $1.5 billion in assets under management, HAX provides not just capital but hands-on engineering support, world-class fabrication infrastructure, and access to a global network of manufacturers and experts.
Sector Focus
HAX invests across multiple hard tech sectors with particular emphasis on:
- Climate Tech & Sustainability: Companies addressing decarbonization, energy transition, critical minerals, and sustainable manufacturing
- Industrial Automation & Robotics: Physical AI, robotic systems, automation for industrial processes
- Human Health: Therapeutics, diagnostics, medical devices, women's health, neurotech
- Materials & Manufacturing: Novel materials, sustainable production processes, circular economy
- Energy: Clean energy solutions, energy infrastructure, marine fuel alternatives
- IoT & Sensors: Industrial IoT, sensor networks, connectivity technologies
Recent Deep Tech 100 portfolio trends show HAX's focus: 45 companies in Deep Tech 100, 41 in Physical AI, 40 female-founded companies, 38 in energy, 9 in materials, and 6 in critical minerals.
Stage Focus
HAX exclusively invests at the pre-seed stage:
- Primary focus: Pre-seed startups with initial prototype and customer insight
- Typical timing: Companies with proof-of-concept, technical team, vision for global impact
- Follow-on strategy: SOSV continues supporting companies through Series A and beyond as part of the broader multi-stage venture ecosystem
Check Size & Investment Package
HAX provides a standardized investment package:
- Initial investment: $550,000 per company
- Program duration: 4-month intensive program (though structured as perpetual access)
- Access to facilities: 35,000 square feet of state-of-the-art fabrication space in Newark
- Additional support: Engineering expertise, design consultation, manufacturing partnerships
Program & Infrastructure
HAX operates the world's first and most active pre-seed hard tech program with exceptional hands-on support:
Newark Facility (Primary Hub)
- 35,000 square feet of fabrication and lab space
- Opened 2022 with $25M state of New Jersey investment
- Fabrication capabilities: manual metal work, CNC machining, laser cutting, water-jet cutting
- Equipment labs for rapid iteration and prototyping
Global Network
- Shenzhen: Manufacturing expertise and supply chain access
- Pune: Design and engineering support
- Tokyo: Regional hub for Asia-Pacific founders
Mentor Network
- Curated global community of engineers, designers, entrepreneurs
- Access to manufacturers, suppliers, and industry experts
- Alumni network: 440+ HAX startups with $11B aggregate valuation
Recent Activity & Fund Status
HAX is actively deploying as part of SOSV's broader investment strategy:
- Portfolio scale: 440+ HAX alumni startups
- Recent activity: 2024 cohort (HAX Seed 2024) with 11 newly accepted startups
- Fund status: Actively deploying (part of SOSV Fund V)
- Latest investments (2025-2026): XFuel ($20M marine fuel), Still Bright (critical minerals), YPlasma (plasma energy), Level Zero Health (women's health diagnostics)
- Notable 2025 announcement: HAX Plasma Forge in Princeton, NJ—a $25M strategic innovation center combining Princeton Plasma Physics Laboratory research with SOSV investment for plasma technology startups
Portfolio Highlights
Exit Examples
- Unspun (Series A+, led by DCVC and Lowercarbon Capital) - sustainable clothing manufacturing
- Neptune Robotics - automated marine hull cleaning (Series A+, female-founded)
- R-Zero - UV-C disinfection technologies
Active Portfolio Trends
- Notable recent beneficiary: unspun ($57M raised including SOSV) for sustainable apparel manufacturing
- Deep Tech 100 representation: 45+ companies across multiple cohorts
- Female founders: 40 companies (strong emphasis on diversity)
- 69 Seed-stage companies, 48 Pre-Seed companies in portfolio (many progressed from HAX)
Team
Leadership
- Duncan Turner: General Partner SOSV & Managing Director HAX - Former professional in hard tech, led creation of Newark facility
- Cyril Ebersweiler: General Partner SOSV & Managing Director HAX - Deep technical expertise in scaling hard tech
- Susan Schofer: Partner & Chief Science Officer - Brings deep scientific credibility
- Ji Ke: Partner & CTO - Technical leadership for engineering initiatives
- Andrew Gollach: Partner - Investment and portfolio support
Operations Team
- 15+ engineers, designers, workshop managers, and operations staff
- Mechanical engineers: Charles Peter (Director), Manvendra Kumar (Senior), Tyler Shi, Sam Liao
- Electronic engineering leadership: Michael Moon (Director)
- Workshop managers in Newark, Pune, and Shenzhen operations
- Safety and lab management specialists
Decision Process & Involvement
- Partnership model: Duncan Turner and Cyril Ebersweiler co-lead investment decisions
- Decision timeline: Continuous rolling applications (no fixed closing dates)
- Warm introduction preference: Not required but beneficial for portfolio alignment
- Typical involvement: Hands-on engagement during 4-month program; board observer or advisor role post-program
- Follow-on strategy: SOSV partnership ecosystem for Series A and beyond through co-investors
Founder Preferences
HAX actively seeks:
- Scientists and engineers with deep technical expertise or advanced degrees (44% of SOSV founders hold PhDs)
- Fresh-from-university founders deeply convinced their idea can change the world
- Diverse backgrounds: 32% female founders, 79 nationalities represented, 59 countries of operation
- Technical co-founders: Ability to build, test, and iterate rapidly
- Domain expertise: Founders solving problems they deeply understand from research or industry experience
- Global mindset: Comfort with international manufacturing, supply chains, and markets
Geographic & Sector Anti-Thesis
HAX explicitly avoids:
- Software-only or pure SaaS plays (prefers physics-based innovation)
- Consumer hardware without manufacturing vision
- Companies that don't require hands-on fabrication support
- Non-technical founding teams
Geographic Focus
Primarily US-based with global reach:
- Primary: United States (94 portfolio companies, focus on Newark, Bay Area)
- Secondary: Canada (17), United Kingdom (17), Singapore (10)
- Active outreach: Germany (5), Austria, China, France, India, Portugal, and 18+ other countries
- Global network: 24/7 innovation engine with staff in Pune (India), Shenzhen (China), Tokyo (Japan)
Notable Recent News (2025-2026)
- February 2026: Announcing Deep Tech Live series with Dr. Barbara Burger ("Godmother of Energy Investing")
- January 2026: XFuel portfolio company raises $20M for low-carbon marine fuel
- December 2025: Trump Project Vault highlights critical minerals focus—multiple HAX startups identified as key beneficiaries
- Fall 2025: HAX Plasma Forge announced in Princeton, NJ—$25M commitment combining PPPL research with SOSV investment
- 2025: Newark facility achieving regional momentum—50+ startups in first few years, 160+ jobs created, $60M+ raised by portfolio
Key Operational Differentiators
- Hands-on fabrication support: Unlike traditional pre-seed funds, HAX founders literally build in their facility
- Manufacturing partnerships: Direct access to global supply chains and contract manufacturers through Pune and Shenzhen teams
- Continuous engagement: Founders treated as extension of HAX team during and after program
- SOSV follow-on access: Pre-seed is just the beginning; alumni benefit from SOSV's 1000+ co-investor network
- Founder community: Legacy of alumni support and peer mentorship across 440+ companies
- Research integration: Partnerships with universities and research institutions (PPPL plasma initiative example)
Fund Structure & Multi-Stage Approach
As part of SOSV:
- 60 pre-seed investments yearly across SOSV programs (HAX + IndieBio)
- $550K initial check with deep program support
- 150+ follow-on investments annually through SOSV fund ecosystem
- Fund V currently deploying with focus on human and planetary health
- Multi-stage capability: From pre-seed through growth, with 1000+ co-investors in network
Capital Deployment & Raising Performance
- Portfolio raising: HAX alumni raised $3.5B in total fundraising
- SOSV total invested: $225M+ into HAX startups plus earlier programs
- 2021-2024 achievement: SOSV portfolio raised $6.5B with SOSV in 579 follow-on rounds
- Current focus: Actively deploying with emphasis on climate tech, critical minerals, and energy transition
Competitive Positioning
HAX differentiates itself as:
- Only dedicated pre-seed hard tech program with fabrication labs and engineering team
- Most active deep tech investor: 60 pre-seed checks annually (SOSV claim)
- Global manufacturing reach: Shenzhen and Pune operations enable supply chain shortcuts
- Brand visibility: SOSV Deep Tech 100 and Climate Tech Summit provide portfolio leverage
- Evergreen support: Unlike traditional accelerators, HAX relationships persist across multiple funding rounds