Wave Function Ventures is a newly launched early-stage deep tech fund founded by Jamie Gull, an aerospace engineer turned entrepreneur and investor. Gull’s career spans hands-on engineering roles at Scaled Composites and SpaceX, where he contributed to the development of reusable rockets, as well as co-founding eVTOL startup Talyn Air. He later became a venture partner at YC’s Pioneer Fund and an active angel investor in aerospace and frontier technology. Wave Function Ventures channels this background into a founder-centric investment platform for deep tech companies building transformative systems.
The fund is dedicated to startups in deep tech sectors with heavy technical barriers and long-term defensibility.
Areas of focus include nuclear energy, humanoid robotics, aerospace, and frontier hardware systems.
Wave Function Ventures is particularly interested in companies that can pair venture capital with alternative funding sources like government contracts or asset-backed lending, enabling them to build more durable moats than typical software startups.
In October 2025, Wave Function Ventures announced the close of its debut vehicle, Fund I, at $15.1 million.
The fund has already deployed capital into nine companies and expects to make around 25 investments at the pre-seed and seed stages.
The anchor LP was not disclosed, but the rest of the fund was filled by high-net-worth individuals, family offices, and other funds.
Leadership
The fund is led by Jamie Gull, who combines technical engineering expertise with startup founding experience and angel investing track record. Gull’s credibility stems from both his engineering achievements, including work on SpaceX’s Falcon 9 reusability, and his entrepreneurial journey with Talyn Air, which exited to Ampaire in 2023.
Investment Strategy
Wave Function Ventures emphasizes supporting founders through the uncertain earliest stages of company-building. Gull intends to leverage his mix of rapid prototyping experience, startup building, and investing background to help companies navigate capital intensity and technical risk.
The strategy is to place concentrated bets on breakthrough ideas with a long-term horizon, accepting longer development cycles in exchange for potentially massive returns in aerospace, defense, robotics, and energy.
Notable Investments
The fund has already backed nine startups, including:
Gull’s personal angel portfolio also includes Boom Supersonic, K2 Space, and Varda, further underscoring his deep tech focus.
Notable Exits
As a founder, Gull co-created Talyn Air, an eVTOL startup that was acquired by Ampaire in 2023.
While Wave Function Ventures is too new for exits, Gull’s operator and investor background shows an ability to generate outcomes in capital-intensive industries.
Other
Wave Function Ventures is highly hands-on, with Gull directly advising on technical development, early go-to-market, and funding strategies. The fund is tailored for patient capital, understanding that deep tech may take a decade or more to realize returns. Its early investments show a strong tilt toward frontier industries overlooked by traditional VCs.
