New-York based Parkway Venture Capital announces $60 million venture capital fund to support the development of simulation and AI startups. Unlike AM Ventures that solely focuses on AM companies, Parkway is a generalist venture firm with an emphasis on technology companies that are using artificial intelligence (AI), complex engineering, and data science to enable the advanced simulations that power tomorrow’s industry.
As simulation and AI also play a key role in advancing the adoption of AM technologies, this capital fund – the second announced by Parkway -, is of paramount importance for companies of the industry, that are looking to raising money. Parkway currently has eight investments in its portfolio, and is operating on a rolling close through 2021.
“Parkway operates at the convergence of technology, simulation and production,” said Jesse Coors-Blankenship co-founder and managing partner, Parkway. “This is based on our insight that everything will be simulated as our world embraces a higher complexity future. For Gregg and me, our ability to accurately predict future outcomes to achieve success has been essential to our winning record in venture capital. Collectively our portfolio companies harness simulation and AI to bring value and competitive advantage to any sector.”
It should be noted that with its first capital fund, the company invested in the energy company TAE Technologies, alongside Google, Goldman Sachs, NEA, Venrock, and Kuwait Investment Authority, among others. Parkway has also attracted international energy expert Omran Al-Kuwari to its Advisory Board. Al-Kuwari, a pioneer in clean technology in the MENA region, currently serves as the CEO of Qatar Foundation International, and is a researcher on decarbonization and energy transition matters – topics that are very close to the AM industry as well.
“I am thrilled to be joining Parkway at a time when they have already zeroed in on transformational new opportunities in simulation across sectors, including clean energy,” shares Omran Al-Kuwari. “I am particularly excited to support the growth of some of our portfolio game-changers, such as TAE Technologies, who are redefining energy to the grid and power management, while expanding the frontiers of fusion technology.”
For Parkway, their proven ability to predict future outcomes is central to their current and future success in venture capital. Founded in 2018, Parkway is made up of hands-on operators who have the entrepreneurial experience and success to help their portfolio companies chart the best paths forward. Both Gregg and Jesse remain major investors in the firm, which exemplifies their confidence in the funds they are raising, and the portfolio companies they are investing in.
“At Parkway, we practice a refined investment approach that extends across sectors – one rooted in digital transformation technologies, with a strong potential to disrupt and redefine the status quo,” adds Gregg Hill, co-founder and managing partner, Parkway. “We truly understand the transformative power of innovation and the value our portfolio companies bring to the world.”
Remember, you can post job opportunities in the AM Industry on 3D ADEPT Media free of charge or look for a job via our job board. Make sure to follow us on our social networks and subscribe to our weekly newsletter : Facebook, Twitter, LinkedIn & Instagram ! If you want to be featured in the next issue of our digital magazine or if you hear a story that needs to be heard, make sure to send it to contact@3dadept.com