Investments
52Portfolio Exits
3Funds
19About Prime Movers Lab
Prime Movers Lab invests in physics-powered startups, especially those in early-stage deep technology companies across nuclear, oil and gas, batteries, utilities, power plants, autonomous vehicles, aerospace, drones, water, connectivity, quantum computing, advanced materials, and defense.
Prime Movers Lab Headquarter Location
320 E Broadway
Jackson, Wyoming, 83001,
United States
Latest Prime Movers Lab News
Jun 28, 2022
Gaetano CrupiContributor Gaetano Crupi is a partner at venture capital firm Prime Movers Lab . He serves on the boards of OCEANIX, Atom Computing, Conscious Cultures and MycoWorks. Over the past few months, investors from Sequoia to YC have sounded the clarion call to get their portfolio companies preparing for winter. At this stage, it does not matter if we agree or not: Enough momentum in the market has shifted that market behavior has become a self-fulfilling reality. Over the past 60 days, we have been working closely with our portfolio companies to help devise “winterization plans.” We have gone through this exercise enough that we have seen some patterns that might be helpful to others as they create their own plans. We agree with many of our peers that scenario planning is vital at this stage. This is a point that we have communicated repeatedly to our own companies. We have found that placing scenarios within a 36-month decision tree is particularly useful for preparing winterization plans. Why 36 months when the usual feedback is 18 to 24 months of runway? We also believe that this downturn has the makings of a longer lasting and more volatile slump. A 36-month perspective is a more appropriate time horizon for collecting more information so you can decelerate even further (with cash to pivot) if things are worse in 12 months or accelerate if things are better in 18 months. Chronological scenario planning forces you to set drop-dead dates to make decisions, all in the context of having enough cash on hand to gracefully pivot. It forces the company to think in an “if, then” structure that is much more actionable than siloed scenarios. Cutting all costs to survive without the ability to make progress is not really surviving. We hope the information below helps you create your own decision tree for winter. The sooner you embark on the exercise, the more your psychology can move from “fearful unknown” to “curious possibility” — and in these periods of volatility, psychology has an outsized impact on outcome. Preparation Before you can start creating your decision tree, you should ensure you have the following materials prepared. Burn model Have a detailed monthly burn model until “cash-out” for your current plan. This should include the usual categories like revenue, COGS, salaries, etc. Ensure you break out recurring internal expenses (office space, software subscriptions, etc.) from consultant fees, lawyer fees, from capital expenditures. Try to start separating essential from non-essential costs. Two key points: Be honest with yourself on how well you actualize forecasts . Are you always spending more and making less than you project? That is a recipe for disaster when you are planning against burn. This is not a fundraising model; this is the time to be conservative with your numbers so you have a realistic picture of your expenses. If you don’t actualize your forecasts, start putting that discipline into the organization immediately. Once you close a month, look back at your forecast and see how you did. Getting good at forecasting and budgeting is a necessary skill in a tighter capital market. Get that skill now. Everyone regrets not making cuts sooner — often more than months too late. What you think is essential is likely not essential. I have unfortunately had to go through several scale-backs in my career, and I was always shocked at how much fat I considered to be muscle. Updated organization plan What is your current hiring plan? Has it changed in the past 10 weeks? Have you conducted performance reviews recently, and do you have an understanding of who your lower decile performers are at the company?
Prime Movers Lab Investments
52 Investments
Prime Movers Lab has made 52 investments. Their latest investment was in Space Perspective as part of their Series B on May 5, 2022.
Prime Movers Lab Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/19/2022 | Series B | Space Perspective | $17M | No | 4 | |
5/19/2022 | Unattributed VC | Gilgamesh Pharmaceuticals | $13.76M | No | 1 | |
4/5/2022 | Series A | Venus Aerospace | $20M | No | 3 | |
3/23/2022 | Series E | |||||
3/10/2022 | Series A |
Date | 5/19/2022 | 5/19/2022 | 4/5/2022 | 3/23/2022 | 3/10/2022 |
---|---|---|---|---|---|
Round | Series B | Unattributed VC | Series A | Series E | Series A |
Company | Space Perspective | Gilgamesh Pharmaceuticals | Venus Aerospace | ||
Amount | $17M | $13.76M | $20M | ||
New? | No | No | No | ||
Co-Investors | |||||
Sources | 4 | 1 | 3 |
Prime Movers Lab Portfolio Exits
3 Portfolio Exits
Prime Movers Lab has 3 portfolio exits. Their latest portfolio exit was Energy Vault on February 14, 2022.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
2/14/2022 | Reverse Merger | 5 | |||
Date | 2/14/2022 | ||
---|---|---|---|
Exit | Reverse Merger | ||
Companies | |||
Valuation | |||
Acquirer | |||
Sources | 5 |
Prime Movers Lab Fund History
19 Fund Histories
Prime Movers Lab has 19 funds, including Prime Movers Lab Fund III.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
1/20/2022 | Prime Movers Lab Fund III | $186M | 1 | ||
1/27/2021 | Prime Movers Lab Fund II | $245M | 2 | ||
12/29/2020 | Boom PML SPV 1 | 1 | |||
11/25/2020 | Turntide PML SPV 1 | ||||
10/15/2020 | Commonwealth Fusion Systems PML SPV 1 |
Closing Date | 1/20/2022 | 1/27/2021 | 12/29/2020 | 11/25/2020 | 10/15/2020 |
---|---|---|---|---|---|
Fund | Prime Movers Lab Fund III | Prime Movers Lab Fund II | Boom PML SPV 1 | Turntide PML SPV 1 | Commonwealth Fusion Systems PML SPV 1 |
Fund Type | |||||
Status | |||||
Amount | $186M | $245M | |||
Sources | 1 | 2 | 1 |
Prime Movers Lab Team
6 Team Members
Prime Movers Lab has 6 team members, including current Founder, General Partner, Dakin Sloss.
Name | Work History | Title | Status |
---|---|---|---|
Dakin Sloss | Founder, General Partner | Current | |
Suzanne Fletcher | StartX, Paul Capital Partners, and Morgan Stanley | General Partner | Current |
Zia Huque | General Partner | Current | |
Amy Kruse | General Partner | Current | |
David Siminoff | General Partner | Current |
Name | Dakin Sloss | Suzanne Fletcher | Zia Huque | Amy Kruse | David Siminoff |
---|---|---|---|---|---|
Work History | StartX, Paul Capital Partners, and Morgan Stanley | ||||
Title | Founder, General Partner | General Partner | General Partner | General Partner | General Partner |
Status | Current | Current | Current | Current | Current |
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