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§ Venture Capital · USA
Early-stage VC firm investing in deep tech startups, focused on frontier computing, AI/ML, and computational biotech.
First Star Ventures is an early-stage venture capital firm based in Cambridge, Massachusetts, that invests in startups leveraging frontier computing technologies such as artificial intelligence, machine learning, edge computing, and computational biotechnology. The firm manages $40 million in total funds raised and deploys capital primarily into pre-seed and seed-stage companies, providing an average check size ranging from $100,000 to $1 million. To date, the organization has executed over 50 total investments and currently maintains an active roster of 37 portfolio companies across the deep tech, software, big data, and cleantech sectors. The firm maintains a selective deal flow, averaging five investment rounds per year. Notable portfolio companies backed by the firm include Jellyfish, Plus One Robotics, Bedrock Energy, Turso, and Parallel Wireless. First Star Ventures was founded in 2014 by co-founders Drew Volpe and Millie Liu.
Key people at First Star Ventures.
First Star Ventures is a venture capital firm focused on empowering visionary technical founders working on frontier computing technologies such as artificial intelligence (AI), machine learning (ML), decentralization, computational biotech, connected sensors, AR/VR, and blockchain. Their investment philosophy centers on backing entrepreneurs solving real-world problems with deep technology, providing strategic support and leveraging a strong network to accelerate startup growth and market navigation. The firm primarily invests in early-stage companies with transformative ideas that have the potential to disrupt industries and shape the future of technology[1][2][4].
Founded in 2014 and based in Cambridge, Massachusetts, First Star Ventures was established by Drew Volpe and Millie Liu, both of whom bring deep technical and entrepreneurial experience. Drew Volpe has a background in search, machine learning, sensors, mobile, computational bio, and blockchain technologies, while Millie Liu has a strong track record in data analytics startups and AI healthcare platforms, including co-founding an MIT startup and advising MIT CSAIL. Their combined expertise and vision have shaped the firm’s focus on frontier technologies and deep tech startups. Over time, First Star Ventures has evolved to emphasize early-stage investments in sectors like biotech, clean tech, and business services, maintaining a data-driven and operator-first approach to venture investing[1][4][6].
First Star Ventures rides the wave of accelerating innovation in frontier technologies such as AI, ML, decentralization, and computational biotech. The timing is critical as these sectors are experiencing rapid technological breakthroughs and growing market demand. By focusing on deep tech startups, the firm helps bridge the gap between cutting-edge research and commercial application, influencing the broader ecosystem by nurturing companies that could redefine industries like healthcare, data analytics, and decentralized systems. Their emphasis on early-stage investments in these emerging fields positions them as key enablers of the next generation of technological innovation[1][2][4].
Looking ahead, First Star Ventures is likely to deepen its focus on frontier computing and biotech, leveraging its strong technical expertise and network to identify and support breakthrough startups. Trends such as AI democratization, decentralized finance, and computational biology will shape their investment journey. As these technologies mature, First Star Ventures’ influence may grow, helping to define new market standards and fostering innovation ecosystems globally. Their commitment to visionary founders and deep technology positions them well to remain a pivotal player in the venture capital landscape focused on transformative tech[1][4][6].
Key people at First Star Ventures.
First Star Ventures has more than 26 tracked investments across 24 companies. The latest tracked deal is $6.8M Seed in Extellis in November 2025.
