The Colorado School of Mines has launched a second investment fund, Mines Venture Fund II, aiming to back up to 40 startups founded by faculty, students, and alumni.
The $10 million fund has secured a $5 million commitment from the State of Colorado. It will look to deploy its cash over the next four years.
The Mines Venture Fund II will focus on early-stage companies, with a particular interest in deep tech. Beyond capital, it will also provide operational expertise and access to a network of academic and commercialisation experts.
A portion of the Mines Venture Fund II’s profits will be reinvested in the university’s innovation activities, though it is unclear what percentage.
“The world has seen fundamental scientific breakthroughs in the past decade that now turn deep tech lab experiments into viable startup opportunities. Mines has built a world-class innovation ecosystem to encourage broad commercialization. We have tightly coupled the venture fund with university commercialisation initiatives, expanding that culture of entrepreneurship across the entire Mines community.”
Ed Messman, managing director of the Mines Venture Fund
The university launched the Mines Venture Fund I in 2024, though it had been working on the fund since 2022. Fund I initially secured $2 million, before a $2.8 million close in March 2025.
That first fund has backed four companies: wound care gel developer GelSana Therapeutics; AI-driven sonar technology developer AndrenaM; Infinite Outdoors, which allows private land owners to open access to hunters and fishers; and drilling rig developer XtremeX Mining Technology.
Earlier this year, Walter Copan, the university’s vice president for research and technology transfer, stepped down to focus on family. Michael Kaufman was appointed on an interim basis.
