Investors are gunshy about hardware. And I understand why. It's capital intensive, hard to pivot, course correcting gets expensive, technical challenges are often not insignificant, and supply chain is always more complicated than investors or entrepreneurs think. That's a big part of why I spun off Make in LA (hardware accelerator) from NEO Tech (Tier 2 contract manufacturer and EMS).
After investing in 20+ hardware startups from formation through Series A, I've realized that the investing ecosystem needs more players with hardware experience to evaluate, curate, and de-risk hardware. It's a messy space that is being cleaned up by a handful of experts.
Firms like Make in LA, Bolt, Highway 1, and HAX systematically remove obstacles for hardware startups. The syndicate intends to invest in hardware deals that have gone through these programs, including the follow-on investments made at Make in LA. Deals could also include filling pro-rata on the handful of hardware rounds where I have been elbows-deep helping the team get their product to market. Basically, let's put a lot of horsepower behind the companies I am most passionate about.