Amit Garg and Sanjay Rao have used the bulk of their specialist lives producing technology, founding startups and investing in startups at areas like Google and Microsoft, HealthIQ, and Norwest Venture Companions.
In excess of their 10 years-prolonged friendship the two gentlemen talked over doing the job collectively on a undertaking fund, but the time was under no circumstances proper — till now. Due to the fact very last August, the two guys have been increasing cash for their inaugural fund, Tau Ventures.
The title, like the two partners, is a bit wonky. Tau is two situations pi and Garg and Rao chose it as the name for the partnership simply because it symbolizes their analytical approach to pretty early stage investing.
It’s a peculiar thing to launch a undertaking fund in a pandemic, but for Garg and Rao, the chance to supply really early phase investment cash into startups functioning on equipment finding out purposes in healthcare, automation and business enterprise was also great to pass up.
Garg had expended twenty several years in Silicon Valley doing the job at Google and launching corporations which include HealthIQ. More than the many years he’d amassed an expenditure portfolio that provided the autonomous vehicle organization, Nutonomy, BioBeats, Glooko, Cohero Health, Terapede, Figure1, HealthifyMe, Healthy.io and RapidDeploy.
Meanwhile, Rao, a Palo Alto, Calif. indigenous, MIT alum, Microsoft item supervisor and founder of the Speed up Labs accelerator in Palo Alto, Calif., reported that it was essential to give again to business people immediately after decades in the Valley honing competencies as an operator.
Both of those Rao and Garg acknowledge that there are a variety of resources that have emerged centered on equipment learning such as Foundation Set Ventures, SignalFire, Two Sigma Ventures, but these traders lack the immediate corporation constructing practical experience that the two new investors have.
Garg, for instance, has truly designed a hospital in India and has a deep background in healthcare. As an trader, he’s by now witnessed an exit through his investment decision in Nutonomy, and the two men have a deep knowledge of the organization market — specifically all around security.
So considerably, the organization has created a few investments automation, a different 3 in company software, and 5 in health care.
The firm at this time has $17 million in capital underneath management raised from institutional buyers like the legislation firm Wilson Sonsini and a selection of undisclosed spouse and children places of work and people, according to Garg.
Substantially of that money was committed soon after the pandemic hit, Garg reported. “We began August 29th… and did the final shut May possibly 29th.”
The notion was to shut the fund and commence placing funds to do the job — particularly in an surroundings in which other investors were being burdened with sorting out their existing portfolios, and not capable to put funds to operate as immediately.
“Our very last financial commitment was accomplished fully in excess of Zoom and Google Satisfy,” stated Rao.
That virtual surroundings extends to the firm’s shareholder meetings and conferences, some of which have attracted in excess of 1,000 attendees, in accordance to the associates.