Amit Garg and Sanjay Rao maintain spent the huge majority of their professional lives growing know-how, founding startups and investing in startups at locations indulge in Google and Microsoft, HealthIQ, and Norwest Project Partners.
Over their decade-prolonged friendship the 2 males discussed working together on a enterprise fund, however the time used to be by no method honest — until now. Since final August, the 2 males had been raising capital for his or her inaugural fund, Tau Ventures.
The name, indulge in the 2 companions, is a bit wonky. Tau is twice pi and Garg and Rao chose it because the name for the partnership because it symbolizes their analytical solution to very early stage investing.
It’s a unfamiliar thing to initiating a enterprise fund in a deadly illness, however for Garg and Rao, the replace to provide very early stage funding capital into startups engaged on machine finding out applications in healthcare, automation and change used to be too real to scurry up.
Garg had spent twenty years in Silicon Valley working at Google and launching corporations at the side of HealthIQ. Over time he’d amassed an funding portfolio that incorporated the self sustaining automobile company, Nutonomy, BioBeats, Glooko, Cohero Health, Terapede, Figure1, HealthifyMe, Wholesome.io and RapidDeploy.
Meanwhile, Rao, a Palo Alto, Calif. native, MIT alum, Microsoft product manager and founder of the Hurry Labs accelerator in Palo Alto, Calif., mentioned that it used to be essential to present abet to entrepreneurs after a long time in the Valley honing abilities as an operator.
Both Rao and Garg acknowledge that there are fairly a few funds that maintain emerged centered on machine finding out at the side of Foundation Position Ventures, SignalFire, Two Sigma Ventures, however these buyers lack the say company constructing journey that the 2 original buyers maintain.
Garg, for instance, has without a doubt built a health center in India and has a deep background in healthcare. As an investor, he’s already seen an exit via his funding in Nutonomy, and both males maintain a deep figuring out of the enterprise market — in particular round security.
Up to now, the corporate has made three investments automation, yet every other three in enterprise instrument, and 5 in healthcare.
The company currently has $17 million in capital under administration raised from institutional buyers indulge in the legislation company Wilson Sonsini and fairly a few undisclosed family offices and folks, based totally on Garg.
Noteworthy of that capital used to be dedicated after the pandemic hit, Garg mentioned. “We started August 29th… and did the final halt Can also simply 29th.”
The basis used to be to halt the fund and originate putting capital to work — in particular in an ambiance where other buyers were confused with finding out their existing portfolios, and no longer in a set to position capital to work as quick.
“Our final funding used to be carried out entirely over Zoom and Google Meet,” mentioned Rao.
That digital ambiance extends to the company’s shareholder conferences and conferences, some of which maintain attracted over 1,000 attendees, based totally on the companions.