At a Glance
Lux Capital was founded by Josh Wolfe and Peter Hebert with a contrarian thesis: the most transformative companies emerge from the intersection of breakthrough science and entrepreneurial ambition. The firm has built a reputation for identifying and backing founders working on technologies that others might dismiss as too early or too risky. Lux's investment approach combines deep technical diligence with a network that spans academia, government labs, and industry. The firm has been an early institutional backer of companies like SpaceX, where they invested in Elon Musk's ambitious vision for space exploration, and Anduril, Palmer Luckey's defense technology venture. Josh Wolfe, the firm's co-founder and managing partner, is known for his thought leadership in emerging technologies and his ability to spot inflection points in scientific research that create venture opportunities. The firm's portfolio spans multiple sectors but maintains a consistent focus on companies built around proprietary technology and scientific breakthroughs. Lux has offices in New York and Menlo Park, reflecting their bicoastal approach to sourcing deals from both academic institutions and Silicon Valley's ecosystem.
“Invests in unconventional, science-driven founders building transformative companies at the frontier of physics, biology, and computation.”
Lux Capital has raised nine flagship vehicles since Josh Wolfe and Peter Hebert founded the firm in New York in 2000. Lux advised on more than $1 billion across two funds in 2019, then closed nearly $1.5 billion in June 2021: $675 million for the early-stage Lux Ventures VII and $800 million for Lux Total Opportunities, a late-stage vehicle. In April 2023 the firm closed Lux Ventures VIII at $1.15 billion, dropping the paired opportunity fund from that raise and pushing assets under management past $5 billion.
Lux returned in January 2026 with a ninth fund of $1.5 billion, the largest in its history, taking total assets under management to roughly $7 billion. The firm concentrates capital rather than spreading it, writing first institutional checks into frontier science companies and following on through growth rounds, which is why the flagship funds have grown faster than the portfolio count. Lux invests from offices in New York and the Bay Area.
Adam Kalish
General Partner, Lux Capital
Brandon Reeves
Partner, Lux Capital
David Yang
Partner, Lux Capital
Peter Hebert
Co-Founder & Managing General Partner, Lux Capital
Shaq Vayda
Partner, Lux Capital
Lux Capital primarily invests at the Seed, Series A, Series B+ stages. This means they focus on companies that are building their initial product and finding product-market fit.
Lux Capital is headquartered in New York, NY. Many of their portfolio companies are also based in this region, though they invest across geographies.
Lux Capital focuses on investments in Deeptech, Aerospace & Defense, AI, Biotech, Robotics. Their portfolio reflects deep expertise and networks within these sectors.
Lux Capital's typical investment check size ranges from $1M to $50M. Actual amounts may vary based on the stage, sector, and specific opportunity.
Lux Capital manages approximately $7B in assets under management (AUM) across their funds.
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