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Unless

Boulder, CO · Invests in US · Website

Series ASeries BB2B SaaSAI & Machine LearningDeveloper ToolsReal Estate & ProptechClimate & EnergyRoboticsManufacturing & IndustrialRobotics & AutomationClimate & Clean EnergyLogistics & Supply ChainSemiconductors & HardwareDeveloper Tools & InfrastructureReal Estate & PropTech

Thesis

Unless catalyzes the New Industrial Revolution by backing visionary companies transforming industrial systems across supply chains, manufacturing, energy, and transportation. The firm uses a perpetual capital structure to support long-duration industrial transformation through equity, debt, and buyouts.

Likely not a fit for

Consumer apps, pure SaaS with no physical-world component, or companies that don't address industrial transformation at scale

How they invest

Lead or follow
Leads or follows
Typical decision
~2 months
Warm intro
Not required
Involvement
Takes a board seat
Fund status
Actively deploying
Decision process
Partnership vote

Partners & team

7 contacts on file

TZ

Trevor Zimmerman

General PartnerCo-Founder & Managing Partner · Primary contact

+ Pitch
DM

David Mindell

General PartnerCo-Founder, Collective of Experts Lead

+ Pitch
AM

Aaron Marsh

Platform & OpsCFO

+ Pitch
JB

Josh Blanchfield

PartnerPartner & CIO, Perpetual Alpha

+ Pitch
MP

Michael Polansky

PartnerPartner, Alpha Access

+ Pitch
TR

Trish Rogers

Platform & OpsGeneral Counsel & Chief Compliance Officer

+ Pitch
PJ

Peter Joers

PartnerPartner, Alpha Access

+ Pitch

Portfolio

Aether BiomachinesBiotech Life Sciences

Aether Biomachines develops advanced biotechnological platforms to engineer enzymes for cost-effective manufacturing of complex products, focusing on an industrial revolution through biotechnology.

Alloy EnterprisesManufacturing Industrial

Alloy Enterprises specializes in custom thermal management solutions, focusing on innovative technologies to optimize thermal performance in various applications.

AfferenceRobotics Automation

Afference powers communication in the age of AI through neural haptics, enabling tactile sensations in wearables such as rings and watches, and enhancing user experience across various devices.

EnosemiEnterprise Software

Enosemi specializes in co-packaged optics innovation for AI systems, focusing on enhancing data center and cloud performance through advanced optical technologies.

PanthalassaClimate Clean Energy

Panthalassa is a renewable energy company harnessing ocean power to generate clean energy at scale. It focuses on creating a sustainable, low-cost energy platform to meet global energy demands.

Positron AISemiconductors Hardware

Positron is an AI inference hardware company focused on building advanced machine learning accelerators that are efficient in performance and energy consumption, aiming to reduce reliance on traditional GPUs.

SustainmentEnterprise Software

AI-Native Sourcing & Procurement Platform designed for industrial supply chains, focusing on sourcing, procurement, and supplier management.

VillaProptech Real Estate

Villa Homes is a leader in offsite construction, specializing in prefab homes and ADUs. Founded in 2019, it delivers modern, high-quality housing solutions.

Vecna RoboticsRobotics Automation

Vecna Robotics specializes in flexible autonomous mobile robot (AMR) systems and orchestration software that transform workflows in industries like warehousing, manufacturing, and retail.

XwingRobotics Automation

Leading the way to fully autonomous flight, Xwing provides modular autonomy technology for aviation, enabling uncrewed flight for any aircraft with ground-based supervision.

HumaticsEnterprise Software

Humatics focuses on precision positioning solutions that bridge the physical and digital worlds, enhancing productivity and operational efficiency in various sectors, particularly in industrial automation and transportation.

Briq

Recent activity

Unless in the news

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Research briefRead more
Unless Research Investment Thesis Unless is an investment firm on a mission to catalyze the "New Industrial Revolution" — backing companies transforming industrial systems across supply chains, manufacturing, energy, and transportation. Co-founded in 2021 by Trevor Zimmerman and David Mindell, the firm believes that industrial sectors (manufacturing, energy, mobility) represent the next frontier o

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