There is a new startup resource in the Monterey Bay Coast: Santa Cruz Venture Fund.

Announced at the Santa Cruz New Tech on April 5, 2023, this fund is investing in the top early stage, high growth startups founded in Santa Cruz and nearby coastal communities with an emphasis on Planetary Health.

Founded by Alexi Sevastopoulos and Morgan Slain, they have extensive experience in investment funds. Their most recent fund was Santa Clara Ventures for $10M.

Morgan Slain: Founder and General Partner of Santa Clara Ventures; founder and director of Santa Clara University's Bronco Venture Accelerator; investor-backed exits to Google (Quickoffice) and to private equity (TeamsID); partner for eBay founder Pierre Omidyar's seed stage VC firm UP2398; Chief Digital Officer, Frost & Sullivan; Chief Executive Officer, SPARC; VP of New Media and Business Development for The Walt Disney Company; early investor in Chainlink, Patreon, and Ethereum.

Alexi Sevastopoulos: Partner, Santa Clara Ventures; co-founder of network security and automation consulting firm Armature Systems; helped lead Armature from zero to over $50 million in annual revenue; proven record in sales and business development and in evaluating new technology and startup partnerships for Armature and its clients.

Historic Precedent

In the last 10-15 years…

• $180B+ in market value created out of Santa Cruz area

• Without Netflix and Seagate, $14B

• $12B across 9 companies

Fund Details

• 10-year fund

• Targeting approximately 25  investments 

• $50K min commitment (split evenly across initial 5-year investment period) 

• 10% fund returns donated to Santa Cruz Works

Click below if you are interested in learning how you as an investor can participate. More details to come!