Investor Profile: Xfund — Thesis, Cheque Size & How to Apply

Xfund is a US venture firm "built to back entrepreneurs who experiment across disciplines" — backing students, faculty, staff, alumni and self-taught founders with "a curious mind and an ability to execute". It was founded in January 2012 as a partnership between leading venture firms — NEA, Breyer Capital, Accel Partners and Polaris Partners — alongside Harvard. If you are researching Xfund funding and how to get funding from Xfund, this profile covers its thesis, fund size and how to apply.

Investment thesis and sectors

Xfund describes itself as a partnership between venture capital and research universities, backing technically-gifted founders who have been described as "systemically ignored by traditional venture capital". Its portfolio has skewed roughly 40% consumer goods and services, 40% enterprise software and 20% digital healthcare, with stated interests in healthcare IT, online education, the Internet of Things and next-generation enterprise technology. It focuses on seed and Series A investments — and notably does not invest in currently enrolled students' companies.

Fund size and cheque size

Xfund has raised three disclosed funds: Xfund 2 at $100 million (2014) and Fund III at $120 million (2020), with the firm having raised more than $225 million since 2012. Its typical cheque size is not publicly disclosed.

Notable portfolio companies

Reported portfolio companies include Kensho, Ravel Law and Rest Devices (TechCrunch, 2014), plus Zumper, Natalist, 23andMe and Prive (Harvard Magazine, 2021).

Partners and programmes

Xfund was co-founded by Patrick Chung, managing general partner and a former NEA partner, and Hugo Van Vuuren; Brandon Farwell is a partner. Its programme, Xperiment Stake, is a competition granting $100,000 to student startup teams choosing non-traditional career paths — its inaugural 2023 round named three winners. The firm does not advertise a startup credits or perks programme.

How to apply for funding from Xfund

Xfund publishes no online application form. Its stated contact channels are the email [email protected] and +1 (650) 204-1636, with a "Partner with us" invitation to founders. Managing general partner Patrick Chung has said: "Teams of founders can apply to us, and if we love what they're doing, we will give them an actual term sheet."