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MassVentures FY2025 Year in Review: Investing in Innovation
FY2025 was a milestone year as we deepened our commitment to advancing innovation and economic growth across the Commonwealth. With strong momentum, meaningful partnerships, and transformative ideas, we helped researchers and entrepreneurs turn breakthrough science into scalable businesses that created jobs in Massachusetts.
Investing in the Innovation Economy
In FY2025, MassVentures deployed $17 million in grants and venture investments to 80 startups, principal investigators (PIs), and research institutions, while providing more than 10,000 hours of business guidance to emerging entrepreneurs. This funding and support enabled the transfer of cutting-edge technologies into viable products and companies that are driving Massachusetts’ innovation economy forward.
Funding Breakdown:
$6.4 million awarded through 62 grants to researchers and early-stage ventures
$10.5 million invested in 18 companies through our venture fund:
- 83% diverse founding teams
- 61% outside Boston/Cambridge
- 89% academic spinouts
Meet the 5 New Venture Investments
We proudly welcomed five new companies into our portfolio this year—each one solving a critical challenge in climate, energy, or healthcare:
Osmoses is advancing membrane technology to enable energy-efficient industrial gas separations
Transaera is developing ultra-efficient, sustainable air conditioning for a warming planet
Electrified Thermal Solutions is commercializing electric thermal batteries to decarbonize industrial heat
Infinite Cooling is reducing water use and improving sustainability in power plant cooling
ClearCut Surgical is creating a novel electrocautery surgical tool to improve efficiency and safety for surgical teams
These companies reflect our continued focus on deep tech, climate tech, and life sciences, while emphasizing diverse teams, diverse geographies, and research commercialization.
We also celebrated a key portfolio exit. JetCool Technologies, an MIT spinout, was acquired in November 2024. With that exit we ended FY2025 with 36 active companies in our portfolio, spanning industries from clean energy to advanced manufacturing, AI, biotech, and beyond.
Additional Highlights from FY2025
In addition to deploying capital and providing business guidance, MassVentures launched two new programs to support entrepreneurs and the innovation ecosystem:
Founders School – A pre-accelerator program for underrepresented founders
THRiVE in Mass – A GEiR program which leverages universities' cap-exempt H-1B status to extend visas to STEM entrepreneurs building startups in the ecosystem
To further our mission, we also:
Expanded the Acorn Grant Program
Increased the number of START Grants
Invested State Small Business Credit Initiative (SSBCI) funds
Leveraged significant private capital for maximum impact
Accelerated our focus on tech transfer and academic spinouts, rebranding the Massachusetts Tech Transfer Center (MTTC) to the Massachusetts Academic Spinout Center (MASC)
Continued to prioritize diverse teams and geographies
Provided SBIR Coaching
Launched a new website
Released an Economic Impact Report addressing the direct, indirect, and induced effects of our venture fund 1978-2024
Strengthened relationships with other quasi agencies and ecosystem partners
Looking Ahead to FY2026
If the past year showed us anything, it’s this: innovation is thriving in every corner of Massachusetts—and when early-stage founders are given the right support at the right time, the results speak for themselves.
Massachusetts has long been a hub for world-changing ideas—and MassVentures is proud to help those ideas grow into impactful businesses. As we enter FY2026, we’re building on this year’s momentum with new investments, deeper partnerships, and an unwavering commitment to innovation for all.
We thank our partners, founders, and community for making this work possible. The future is bright—and we are excited for what’s ahead.
Jul 1, 2025