Slater Technology Fund

What Slater Technology Fund does

Slater Technology Fund is an evergreen not-for-profit seed-stage venture capital firm founded in 2000 and headquartered in Providence, Rhode Island. The firm invests seed and early-stage capital in technology ventures across software, energy, life sciences, and medical technology, with a stated focus on companies aiming for transformational impact and a commitment to building locally in Rhode Island. Over a 25-year operating history, Slater has deployed $44.1 million across 144 startups and helped those portfolio companies raise $1.15 billion in follow-on private capital, with 38 acquisition and liquidity events and 10,657 job-years of employment generated. The firm's largest disclosed exit to date was the 2020 acquisition of Cadent Therapeutics by Novartis for up to $770 million — a company formed via merger with Slater-backed Mnemosyne Pharmaceuticals.

Slater typically leads or co-invests in seed and pre-seed rounds and is frequently the first institutional capital into a deal. Representative portfolio companies include MindImmune Therapeutics (Alzheimer's therapy, $30M Series A), Flourish Care (maternal health, $5.7M seed), Boomband (AI-native talent marketplace, $4M seed), Adept Materials (moisture-regulating paint, $4.6M seed), Lenoss Medical (spine medical device, $4M Series A), Egal (women's health, $4M Series A), Marstone (digital wealth, $8M Series B), and Alcinous Pharmaceuticals (URI-spun PARP inhibitors). The firm is governed by a board chaired by Brown's Engineering Dean and staffed by senior leaders from Brown University, the University of Rhode Island, Textron, Locke Lord, Gordon Research Conferences, and CBRE.

The fund generates revenue through management fees on state-administered capital (notably SSBCI allocations from Rhode Island Commerce, expanded to $12 million in 2023 on top of an earlier $9 million contract) and through carried interest from successful portfolio exits, with proceeds reinvested under an evergreen structure. The platform was extended in 2022 with the launch of RightHill Ventures, a sister fund (backed by a $300,000 EDA grant) that targets university-driven innovators and often co-invests with Slater through special purpose vehicles, enabling larger follow-on tickets without altering the seed mandate.

Name

Slater Technology Fund

Legal name

Slater Technology Fund

Website

https://slaterfund.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Slater Technology Fund is a not-for-profit seed-stage venture capital firm headquartered in Providence, Rhode Island. Founded in 2000, it invests seed and early-stage capital in technology ventures across software, energy, life sciences, and medical technology, with deep ties to Brown and URI.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Seed-stage venture capital
• Early-stage technology investing
• Life sciences venture capital
• University spinout funding
• Evergreen not-for-profit fund

Headquarters

HQ city

Providence

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Returns (Carried Interest): As an evergreen not-for-profit VC fund, Slater generates returns through equity investments in portfolio companies. Returns come from exits via acquisitions and IPOs, distributed to the fund and its investors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Slater Technology Fund is an evergreen not-for-profit seed-stage venture capital fund that provides seed- and early-stage equity capital to technology ventures in software, energy, and life sciences, primarily based in Rhode Island. Beyond capital, the fund delivers active mentorship, operational support, introductions to customers, partners, and investors, recruiting assistance, and follow-on funding identification. Over 25 years it has invested $44.1 million in 144 companies, leveraging $1.15 billion in follow-on private capital.

Product overview

Slater Technology Fund is an evergreen not-for-profit seed-stage venture capital fund focused on Rhode Island. Rather than offering a unified platform product, the organization provides investment capital, mentorship, and network support to early-stage technology companies. Their investment approach spans multiple portfolio companies including Flourish Care (maternal healthcare platform), MindImmune Therapeutics (neurodegenerative disease therapies), Adept Materials (advanced materials including Lilypad moisture-regulating paint), Boomband (AI-native talent marketplace), and numerous other portfolio companies across life sciences, medical devices, clean technology, and software sectors. The fund operates as an evergreen platform connecting research, entrepreneurs, and private capital with a focus on companies originating from Rhode Island universities including Brown University and the University of Rhode Island.

Differentiator

Problem solved

Functional benefit

Brands

• RightHill Ventures: Sister fund to Slater Technology Fund, focused on providing seed-stage capital and support to university-based ventures, launched in 2022.

Products and services

• Slater Technology Fund Seed Investment Program An evergreen not-for-profit seed- and early-stage equity investment program providing capital, mentorship, operational support, and network connections to technology ventures in software, energy, and life sciences based in Rhode Island. The fund is often the first institutional money in, invests across multiple sectors, and delivers ongoing investor introductions, recruitment support, and follow-on funding guidance.
• RightHill Ventures Affiliate Fund An affiliate venture fund founded by Slater Technology Fund that targets university research-driven ventures and founders, providing larger capital commitments to companies with traction, often via co-investment with Slater through special purpose vehicles (SPVs).

Quantifiable outcome

• 26:1 leverage ratio of private investment to Slater's capital
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and major.

• Brown UniversitycoreStrategic or Co-development PartnerLong-standing partnership with Brown's Nelson Center for Entrepreneurship, Brown Technology Innovations, and the broader university ecosystem. Over 60 companies have originated from Brown and URI. Slater has board representation from Brown's Engineering Dean.
• University of Rhode IslandcoreStrategic or Co-development PartnerPartnership with URI's Research Foundation and Ryan Institute for Neuroscience. Slater has invested in multiple URI spinouts including MindImmune, which originated from the Ryan Institute.
• Cambridge Innovation Center (CIC) ProvidencemajorStrategic or Co-development PartnerCIC Providence hosts Slater events and is a hub for Rhode Island startups. Slater holds networking events at the CIC facility in Providence's I-195 district.
• NECEC (New England Clean Energy Council)majorStrategic or Co-development PartnerSlater's Managing Director Thorne Sparkman is an avid supporter of NECEC and Cleantech Open, facilitating clean energy startup ecosystem connections.
• RI BiomajorStrategic or Co-development PartnerRhode Island's life sciences industry organization. Slater works with RI Bio on life science startup support and commercialization programs.
• MassChallengemajorStrategic or Co-development PartnerGlobal accelerator with Rhode Island presence. Slater supports startups participating in MassChallenge and leverages the program for deal sourcing.
• Nelson Center for Entrepreneurship (Brown)coreStrategic or Co-development PartnerBrown University's entrepreneurship center. Slater partners on B-Lab accelerator, events, and co-hosts programs like 'Slater Sushi & Networking' to connect with student founders.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Cherrystone Angel Group: Rhode Island-based angel investment group that co-invests alongside Slater in local seed-stage startups. Directly comparable given shared geography, similar check sizes, and documented joint investments across the Rhode Island ecosystem.
• RightHill Ventures: Slater's sister fund, founded in 2022 with a $300K EDA grant, focused on university-driven ventures. Closely comparable in mission, geography, and target stage, though RightHill writes larger follow-on checks.
• MassVentures: Massachusetts' seed and early-stage venture fund, providing equity and mezzanine capital to high-growth startups. Comparable as a state-affiliated seed/early-stage fund operating in a New England ecosystem with university-driven deal flow.
• Connecticut Innovations: Connecticut's quasi-state venture capital arm, providing venture funding to early-stage CT companies. Directly comparable as a state-backed evergreen-style fund supporting local entrepreneurs and university spinouts.
• Maine Venture Fund: State-supported venture capital fund providing patient capital to Maine-based startups. Comparable as a regional, state-affiliated evergreen fund focused on early-stage local company creation.
• Launch New York: New York State-supported seed fund and founder development program targeting university spinouts and underrepresented founders. Directly comparable in state-backed structure and university-driven deal sourcing.
• Rogue Venture Partners: Early-stage venture firm with ties to the New England ecosystem. Directly comparable as a co-investor in Slater portfolio companies (e.g., Boomband) with similar stage and check-size focus.
• Boston Seed Capital: Boston-based seed-stage venture capital firm investing in New England technology startups. Comparable in seed-stage focus, regional geography, and documented co-investment history with Slater.
• Zeal Capital Partners: Early-stage venture firm investing in underrepresented founders and high-impact sectors. Comparable as a co-lead in recent Slater-backed rounds (e.g., $5.7M Flourish Care seed) with shared impact orientation.

Broad incumbents

• Venture For America: Non-profit fellowship placing early-career talent into startup roles in emerging US cities including Providence. Comparable as a mission-driven, ecosystem-building organization supporting regional startup development, though focused on talent rather than capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/SlaterFund
• LinkedInlinkedin.com/company/4029977
• Facebookfacebook.com/155529714486366

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments54 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Slater Technology Fund