J2 Ventures

Technology Focus Areas (Top 4): Medical Devices; Communications; Cyber; Advanced Manufacturing

Series: Seed & Series A

Locations: Boston, NYC, Silicon Valley, DC

J2 Ventures: A Complete History and Profile

The Origin Story

J2 Ventures launched around 2020 with a pretty unique founding story. Alexander Harstrick, a U.S. Army Reserve combat veteran, teamed up with Jonathan Bronson, a PhD chemist with Wall Street experience. The two actually met years earlier as EMTs at Columbia University and later reconnected with a shared vision to support "dual-use" technologies – basically innovations that work for both military and civilian markets.

Based in Boston, the firm has a clear mission: they focus on sectors critical to national security like healthcare, advanced computing, cybersecurity, and telecommunications. But here's what makes them different – they explicitly don't invest in offensive weapons or anything designed to harm people. Instead, they back startups that improve the well-being and capabilities of service members while also serving civilian markets.

Think of companies like MesaQuantum, which is developing GPS alternatives, or Femtosense, which makes energy-efficient AI chips. They stay away from pure warfare tech like drones, arms, or surveillance systems. Their philosophy is that the Department of Defense often adopts transformative technology early (like the internet and telemedicine), so supporting dual-use innovation can strengthen security while delivering strong commercial returns.

Funding History

J2's fundraising story is pretty impressive, especially considering the challenging VC climate in recent years. They started with their inaugural fund in 2021, raising about $68 million. Then in mid-2024, they closed their second fund at $150 million – more than doubling their previous fund size. They call this second fund the "Argonne Fund," and it was actually oversubscribed.

What's particularly noteworthy is that they pulled this off during one of the toughest fundraising environments in years. While many emerging VCs struggled to raise second funds, J2 attracted backing from some serious institutional players: JPMorgan, MetLife, and the New Mexico State Investment Council. The fact that they not only raised but exceeded their target speaks to how investors view their dual-use strategy.

All told, J2 now manages over $200 million across their two funds. Their typical investment range is $1-5 million per company, focusing on pre-seed through Series A stages. They've invested in over 25 companies so far, and they're not afraid to lead rounds when they believe in a startup – sometimes they're the only institutional investor getting companies off the ground.

The Team

One of J2's biggest strengths is their diverse leadership team. These aren't your typical Sand Hill Road VCs – they bring together military service, scientific expertise, government experience, and tech operations know-how.

Alexander Harstrick leads as Managing Partner and Co-Founder. His journey is pretty fascinating: he started as a healthcare consultant and venture investor, then served as an intelligence officer in special operations, deploying to Afghanistan and Iraq. After his military service, he joined the Defense Innovation Unit at the Pentagon, where he helped channel around $2 billion of DoD funding into startups. He spent some time at KKR before co-founding J2. The guy has an MBA from Harvard and really understands both the military and VC worlds.

Jonathan Bronson, the other Managing Partner and Co-Founder, brings the scientific chops. He has a PhD from Columbia where he specialized in applying AI to biochemistry research. Before J2, he was all over the place in the best way possible – consulting at BCG, co-founding a health tech startup as COO, and overseeing renewable energy projects at D.E. Shaw. He's also the guy who reconnected with Harstrick to start J2 after they'd worked together as EMTs years earlier.

Christine Keung joins as Partner with an incredibly diverse background spanning Big Tech and public service. She was an early member of Dropbox's security team and later became Chief of Staff there. She also held leadership roles at Figma. On the government side, she helped launch the $800 billion Paycheck Protection Program during COVID and served as Chief Data Officer for San Jose. She's got an MBA from Harvard and brings serious expertise in cybersecurity, government policy, and tech operations.

Dr. Matthew Goldman rounds out the partnership as a Colonel in the U.S. Air Force Reserve and the founding Chief Medical Officer of the Defense Innovation Unit. He's a practicing physician at Johns Hopkins and Stanford Children's Health, specializing in pediatric gastroenterology. At DIU, he led efforts to bring commercial technology to military use in areas like biotech, cybersecurity, and injury prevention. Having both military medical experience and health tech expertise makes him invaluable for J2's medical investments.

Board: The team also has an impressive advisory board including retired military leaders like Vice Admiral Raquel Bono (former Defense Health Agency director) and Lieutenant General Patricia Horoho (former Army Surgeon General). They've also got tech and finance experts like Harvard Business School professor Paul Gompers advising them. Collectively, the team has advised on over $3 billion in Department of Defense startup contracts in their previous roles – that's a serious network.

Media

For a relatively young firm, J2 has built quite a media presence. When they raised their second fund in 2024, they got coverage from The Wall Street Journal, TechCrunch, and the Boston Globe. The coverage consistently highlighted their veteran-led team and their unique approach to dual-use technology investing.

Alexander Harstrick has become something of a thought leader in the space, appearing on CNBC's Squawk Box and speaking at industry conferences. He's moderated panels for the Space Force on investing in defense AI/ML alongside partners from major firms like Venrock and Lux Capital.

The firm also publishes thought leadership through their "J2 Insights" blog. Harstrick has written pieces for War on the Rocks about U.S. telecommunication infrastructure and for Bloomberg about Pentagon HR technology needs. These articles help establish J2 as experts in bridging Silicon Valley innovation with national security requirements.

Beyond just fund coverage, their portfolio companies regularly make news. When Mesa Quantum was featured on CNBC for its GPS alternative technology, J2 got mentioned as a key investor. Same thing happened when Code Metal raised funding or when Oura hit a $5 billion valuation.

Portfolio Wins and Impact

J2's track record in just a few years is pretty solid. They've invested in over 25 companies, and several have hit significant milestones:

Oura Health is probably their biggest success story. The wearable ring company hit a $5 billion valuation through a partnership with Dexcom. What makes this interesting for J2 is how Oura's technology serves both consumer and military markets – the rings help with fitness and sleep monitoring for civilians while also being explored for soldier performance and veteran healthcare applications.

Code Metal shows how J2 helps companies scale. After J2 led a $3.5 million pre-seed round, this Boston AI startup raised a $13 million seed round led by a larger VC firm. They're building AI platforms for drones and robotics with both military and civilian applications.

Micron Biomedical is developing needle-free vaccine technology through microneedle patches. With J2 as an early investor, they extended their Series A to over $33 million. The technology has obvious applications for deployed troops and pandemic response since it doesn't require syringes or cold storage.

Mesa Quantum is working on chip-scale quantum sensors as GPS alternatives – critical if GPS signals get jammed. Their technology got featured on CNBC, and J2's early backing helped them gain credibility for further funding and government partnerships.

Tasso makes needle-free blood draw devices and has received Defense Department contracts for telemedicine and remote diagnostics. This shows how J2 helps companies navigate government procurement and win non-dilutive funding.

Druid Software, an Irish company in their infrastructure portfolio, raised $20 million to expand 5G offerings in defense and utilities. J2's involvement helped spotlight their technology for defense use cases.

What's particularly impressive is how portfolio CEOs talk about working with J2. Peter Morales from Code Metal says they "truly feel like an extension of your team." Jason Park from Empress Therapeutics mentions how J2's "unique connections and expertise have unlocked new value pools." Glen Wise from Cinder talks about J2's "vast network characterized by wide diversity of experiences."

The Value-Add Difference

What sets J2 apart isn't just their capital – it's their hands-on approach to helping companies succeed. They leverage their government network to connect portfolio startups with defense grants like SBIRs and pilot programs through AFWERX or the Defense Health Agency. This navigation of Pentagon bureaucracy is a huge value-add that most VCs can't provide.

Their investment philosophy centers around a key question: "Why is J2 Ventures the right partner?" They only proceed when they find an answer that ensures mutual success. This disciplined approach means they're selective about investments but deeply committed to the companies they back.

The firm frequently co-invests with top-tier Silicon Valley VCs, which validates their deal quality while bridging the gap between traditional venture capital and government markets. Sometimes they're the sole institutional investor early on, helping companies get off the ground when others hesitate.

Looking Forward

J2 Ventures represents something pretty unique in the VC world – a firm that successfully bridges military expertise, scientific credentials, and government relationships with commercial venture investing. Their dual-use focus isn't just about finding companies that can sell to both markets; it's about recognizing that many of the most important technological advances come from solving hard problems that matter for national security.

With $150 million in fresh capital and a proven track record of identifying dual-use opportunities, J2 is well-positioned to continue leading this space. Their combination of veteran leadership, scientific expertise, and government connections creates sustainable competitive advantages in an increasingly important market segment.

The firm's story is really about mission-driven investing – backing entrepreneurs who are tackling critical problems with solutions that can strengthen national security while succeeding in commercial markets. And based on their portfolio successes and founder testimonials, they're delivering on that mission in a big way.