Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Leonis Capital:

Leonis Capital announced its fully subscribed Fund II at $25 million.

The fund is backed by institutional Limited Partners and a diverse mix of operators and founders in the artificial intelligence industry that include Fund of Funds, foundations, as well as researchers and executives from Nvidia, OpenAI, and Anthropic. This comes three years after raising Fund I, reflecting the firm’s steady momentum and strong performance.

“Fund II represents a meaningful milestone in our evolution from a specialized boutique to building an institutional-grade investment platform investing in one of the most important industries (in AI) of our lifetime,” says Jay Zhao, Managing Partner at Leonis Capital.

Breachway Capital:

Breachway Capital, a newly formed venture capital and growth equity firm founded by entrepreneur and investor Jason Krantz, announced its official launch. With offices in Boston and New York, Breachway Capital partners with founders of business-to-business software, artificial intelligence, and data companies at the Series A+ stage.

The firm is led by Krantz, a serial entrepreneur who has founded, scaled, and exited multiple software and data businesses, and Joe Mirisola, the former Chief Revenue Officer of Definitive Healthcare, where he helped scale the company from pre-revenue to IPO, building a global commercial organization and driving hypergrowth. Carter Dwyer, formerly an Investment Banker at Centerview Partners, joins as Principal, supporting sourcing, execution, and portfolio value creation.

Breachway Capital focuses on Series A+ companies with strong product-market fit, generally in the $3 to $15 million annual recurringrevenue range. The firm distinguishes itself by combining permanent capital – enabling speed, certainty, and long-term alignment – with hands-on operating expertise across GTM, product, and company-building.

“Breachway Capital is built on a simple belief: founders at the scaling stage deserve partners who have been in their shoes,” said Krantz. “We know what it takes to move from product-market fit to market leadership. Our approach is decisive, founder-aligned, and grounded in real operating experience. We’re not just capital providers – we’re partners who can help unlock growth.”

Wave Function Ventures:

Wave Function Ventures has announced the final close of its $15 million Fund I that will partner with deep tech founders building hardware solutions to the world’s most important problems.

The firm was started by Jamie Gull, an industry veteran and solo General Partner who has built hardware, founded companies, raised venture capital, won contracts with the Department of Defense, and ultimately exited companies. He is a former SpaceX engineer who played a key role on Falcon 9 reentry, designed and built aircraft at Scaled Composites, and co-founded and sold his own deep tech company, Talyn Air, a company that successfully went through Y Combinator.

Wave Function invests across critical ‘deep tech’ sectors such as aerospace, defense, energy, robotics, and infrastructure, and partners with founders at the earliest stages.

Sugar Tree Capital:

Sugar Free Capital has announced the launch of its $32 million inaugural fund, investing in technical founders. The firm employs a unique, high conviction strategy, writing lead checks into a concentrated portfolio with high-quality engagement. Founded by proven venture capital investor Sheena Jindal, the fund raised within just six months with commitments from leading institutional investors, and the family offices of technical luminaries, including executives from Nvidia, Citadel, Jane Street, Renaissance Technologies, Crusoe, and The Boston Consulting Group.

Sugar Free Capital was founded on two core beliefs:

1. Technical founders with a systems engineering mindset will be the Chief Executive Officers of the next generation of category-defining companies; and
2. High-concentration, conviction-led capital allocation generates outsized returns.

The firm focuses on founders who demonstrate outsized technical depth, a deep sense of urgency, and unmatched ambition – and who are building companies designed to scale to at least $100 million in revenue.

 

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