Naimish Patel
Proto Ventures at Massachusetts Institute of Technology
Boston, Massachusetts
Overview
Work Experience
Advisory Board Member, MIT Proto Ventures
2022 - Current
MIT Proto Ventures is a venture studio formed to identify transformative technology ventures leveraging the capabilities of MIT in fusion and clean energy.
Board Member
2021
Flume is a modern fiber company bringing new home broadbands options.
Raised $8,709,992.00 from The House Fund, Amplo, Cold Start Ventures, Citi Impact Fund, Everywhere Ventures and Hyperplane.
Advisor
2021
Advisor
2019
Elucidata delivers ML-ready biomedical molecular data that is curated to accelerate drug discovery.
Raised $23,580,000.00 from Eight Roads Ventures, F-Prime Capital, IvyCap Ventures and Hyperplane.
Venture Partner
2019 - 2023
• Directed sourcing and leadership of seed-stage investments across various sectors such as IoT, AI-based predictive platforms, computational biology, networking infrastructure, and telecom services. • Held board membership in multiple portfolio companies, providing strategic guidance and oversight to enhance their performance and growth, including Butlr, Flume, Elucidata, Biotia, and Volta. • Initiated the launch of Hyperplane’s inaugural Opportunity Fund, aimed at increasing Limited Partner exposure to later-stage financings of select portfolio companies, augmenting their growth and financial opportunities.
Hyperplane is an investment firm backing exceptional founders building machine intelligence and data companies.
Board Member
2021 - 2022
Butlr is a physical AI startup that specializes in wireless anonymous people sensing and occupancy detection solutions.
Raised $68,000,000.00 from Ray Stata, Jason Haider, Pacific Alliance Ventures, Yves Behar, The E14 Fund, Pavan Ongole, GS Futures, Union Labs Ventures, Joi Ito and Carrier.
Board Observer
2020 - 2021
Biotia is a health tech startup offering AI-based solutions to diagnose and control infectious disease.
Raised $10,400,000.00 from Tau Ventures, Phoenix Venture Partners, SpringTide Ventures, SeedToB Capital, SK Square Americas, Mayo Clinic Platform, OCA Ventures, Continuum Health Ventures, DigitalDx Ventures and Leawood Venture Capital.
Executive In Residence
2018 - 2019
• Explored and evaluated fresh investment prospects merging life sciences and software, analyzing their potential for strategic investment. • Constructed an investment thesis focused on leveraging robotic automation, computational, and algorithmic innovation to expedite advancements in pharmaceuticals and diagnostics development, resulting in multiple strategic investments in this sector.
General Catalyst partners with ambitious founders to drive resilience and applied AI from seed to growth.
Board Member
2015 - 2017
• Engaged as a board member at AEE, a national energy regulatory policy association dedicated to propelling grid modernization and fostering economic growth within the advanced energy sector. • Delivered expert testimony at a Congressional Committee on Energy and Commerce, addressing concerns regarding the security and reliability of the electric grid, contributing insights and expertise to crucial industry discussions.
Advanced Energy United is a provider of reliable energy that accelerates the transportation of electricity.
Founder and CEO
2010 - 2017
• Assembled a diverse team of technical and commercial experts hailing from the electric power and telecom sectors. • Expanded the customer base to encompass 30 distribution utilities across North America, Europe, and Australia, with the largest customer contributing annual product revenue exceeding $2 million. • Secured $55 million in capital from three top-tier venture investors and a prominent family office to support the company's growth and development.
Gridco develops power management solutions for electric utilities.
Raised $54,499,992.00 from North Bridge Venture Partners & Growth Equity, Lux Capital, Maschinenfabrik Reinhausen, General Catalyst, Lux Capital, RockPort Capital, General Catalyst and North Bridge Venture Partners & Growth Equity.