# Applied Ventures: portfolio, investments and team

> Applied Ventures is a corporate vc based in United States. 43 investments on record, 4 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/applied-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Applied Ventures

Last cheque observed Oct 2026; 43 cheques on record.

Email

Deploying now New fund, Sept 2022 Corporate VC

Pre-seed Seed Series A E-Commerce Marketplace Advanced Materials

Follow Applied Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fapplied-ventures)

Deploying now

**100%** of best year **4** **cheques in 12 months**, 43 on record

Since the last cheque **8** days **00** hrs **00** min **00** sec

Median round **$54M** Rounds led **1 of 43** Sole investor **6 rounds** Exits **10 from the portfolio** Mostly in **United States, 88%**

Pitch Applied Ventures

## Applied Ventures highlights

- 01 4 cheques in the last 12 months
- 02 Mostly Series B and Venture: 57% of its rounds
- 03 Sole investor in 6 rounds, median $11M
- 04 10 exits from the portfolio

## What they do

- **Type:** Corporate VC (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A
- **Sectors:** E-Commerce Marketplace Advanced Materials
- **Based in:** Santa Clara, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **43 appearances**

- **2026** 4 rounds
- **Oct** **[Albert Invent](https://millionrounds.com/company/albert-invent)** Growth · US · Pulse 2.0 **Undisclosed** *Led*
- **Oct** **[Albert](https://millionrounds.com/company/albert)** Series B · US · Pulse 2.0 **$55M** With 10 others
- **Oct** **[Flexcompute](https://millionrounds.com/company/flexcompute)** US · PR Newswire: venture capital **Undisclosed** With 1 other
- **Oct** **[Living Optics](https://millionrounds.com/company/living-optics)** GB · Ventureburn **$20M** With 6 others
- **2025** 1 round
- **Sept** **[Scintil Photonics](https://millionrounds.com/company/scintil-photonics)** Series B · FR · TechStartups **$58M** With 9 others
- **2024** 1 round
- **Dec** **[Ayar Labs](https://millionrounds.com/company/ayar-labs)** Series D · US · Crunchbase News **$155M** With 14 others
- **2019** 1 round
- **Aug** **[Exo Imaging](https://millionrounds.com/company/exo-imaging)** Series B · US · FinSMEs **$35M** With 10 others
- **2018** 1 round
- **Nov** **[Spin Memory](https://millionrounds.com/company/spin-memory)** Series B · US · FinSMEs **$52M** Sole investor
- **2015** 1 round
- **Mar** **[Rayvio](https://millionrounds.com/company/rayvio)** Series B · US **$9.3M** With 5 others
- **2014** 1 round
- **Feb** **[Inpria Corporation](https://millionrounds.com/company/inpria-corporation)** Venture · US **$4.7M** With 2 others
- **2012** 3 rounds
- **May** **[Infinite Power Solutions](https://millionrounds.com/company/infinite-power-solutions)** Series D · US · infinitepowersolutions.com **$10M** With 3 others
- **Mar** **[iosil Energy](https://millionrounds.com/company/iosil-energy)** Growth · US · prnewswire.com **$14M** With 9 others
- **Jan** **[MTPV](https://millionrounds.com/company/mtpv)** Series B · US · finsmes.com **$3.3M** With 1 other
- **2011** 2 rounds
- **Sept** **[MTPV](https://millionrounds.com/company/mtpv)** Series B · US · masshightech.com **$6.5M** With 2 others
- **Jun** **[Semprius](https://millionrounds.com/company/semprius)** Series C · US · finsmes.com **$20M** With 5 others
- **2010** 5 rounds
- **Aug** **[BT Imaging](https://millionrounds.com/company/bt-imaging)** Series A · AU · finsmes.com **$3.8M** With 2 others
- **Aug** **[Infinite Power Solutions](https://millionrounds.com/company/infinite-power-solutions)** Series C · US · earth2tech.com **$20M** With 4 others
- **Jun** **[Adesto Technologies](https://millionrounds.com/company/adesto-technologies)** Venture · US · deals.venturebeat.com **$3.5M** With 3 others
- **Apr** **[Liquavista](https://millionrounds.com/company/liquavista)** Series D · NL · altassets.com **$9.5M** With 3 others
- **Mar** **[Enphase Energy](https://millionrounds.com/company/enphase-energy)** Venture · US · altassets.com **$40M** With 4 others
- **2009** 4 rounds
- **Aug** **[ClearEdge Power](https://millionrounds.com/company/clearedge-power)** Venture · US · xconomy.com **$15M** Sole investor
- **Aug** **[Advanced Inquiry Systems Inc.](https://millionrounds.com/company/advanced-inquiry-systems-inc)** Series B · US · xconomy.com **$11M** With 5 others
- **Jun** **[Semprius](https://millionrounds.com/company/semprius)** Series B · US · greentechmedia.com **$6.4M** With 5 others
- **May** **[Enphase Energy](https://millionrounds.com/company/enphase-energy)** Venture · US · marketwire.com **$23M** With 4 others
- **2008** 7 rounds
- **Dec** **[Infinite Power Solutions](https://millionrounds.com/company/infinite-power-solutions)** Series B · US · news.prnewswire.com **$13M** With 4 others
- **Aug** **[Innolume](https://millionrounds.com/company/innolume)** Series C · DE · innolume.com **$13M** With 4 others
- **Jul** **[Actacell](https://millionrounds.com/company/actacell)** Series A · US · actacell.com **$5.8M** With 3 others
- **Jun** **[Wakonda Technologies](https://millionrounds.com/company/wakonda-technologies)** Series A · US · greenvc.org **$3.2M** With 3 others
- **May** **[SunEdison](https://millionrounds.com/company/sunedison)** Debt · US · venturebeat.com **$30M** With 5 others
- **May** **[SunEdison](https://millionrounds.com/company/sunedison)** Series B · US · venturebeat.com **$131M** With 5 others
- **Jan** **[Fat Spaniel Technologies](https://millionrounds.com/company/fat-spaniel-technologies)** Series B · US · cleantechbrief.com **$18M** With 4 others
- **2007** 5 rounds
- **Nov** **[Plextronics](https://millionrounds.com/company/plextronics)** Venture · US **Undisclosed** Sole investor
- **Aug** **[ClearEdge Power](https://millionrounds.com/company/clearedge-power)** Series C · US **$6.5M** Sole investor
- **Jul** **[SAGE Electrochromics](https://millionrounds.com/company/sage-electrochromics)** Series B · US **$16M** With 2 others
- **Jul** **[Semprius](https://millionrounds.com/company/semprius)** Series A · US · semprius.com **$4.1M** With 3 others
- **May** **[Solaicx](https://millionrounds.com/company/solaicx)** Series C · US **$27M** With 5 others
- **2006** 2 rounds
- **Nov** **[Solaicx](https://millionrounds.com/company/solaicx)** Venture · US · deals.venturebeat.com **$3.0M** Sole investor
- **Sept** **[Infinite Power Solutions](https://millionrounds.com/company/infinite-power-solutions)** Growth · US **$35M** With 5 others
- **2005** 2 rounds
- **Apr** **[Grandis](https://millionrounds.com/company/grandis)** Venture · US **$10M** With 2 others
- **Jan** **[Devicescape](https://millionrounds.com/company/devicescape)** Series B · US · allbusiness.com **$12M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **4 named**

AK **Anand Kamannavar** General Manager of the General Partner i Filing they signed

EL **Edward Le Cesne Byrne** Executive Officer of General Partner i Filing they signed

HC **Hann-Ching Chao** Managing Director of General Partner i Filing they signed

NL **Nancy Ludgus** Executive Officer of General Partner i Filing they signed

We also hold **12** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$73M** gross assets of its funds Oct 2026

**2+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Applied Ventures, LLC
- **SEC number:** CRD 334249

## Exits from the portfolio

Companies it backed that were later bought or listed **10 in all**

**[Plextronics](https://millionrounds.com/company/plextronics)** Bought by [Solvay](https://millionrounds.com/fund/solvay) **Undisclosed** Mar 2014

**[Liquavista](https://millionrounds.com/company/liquavista)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **Undisclosed** May 2013

**[Actacell](https://millionrounds.com/company/actacell)** Bought by Contour Energy Systems **Undisclosed** Sept 2012

**[SAGE Electrochromics](https://millionrounds.com/company/sage-electrochromics)** Bought by [Saint-Gobain](https://millionrounds.com/fund/saint-gobain-nova) **Undisclosed** May 2012

**[Enphase Energy](https://millionrounds.com/company/enphase-energy)** Listed **Undisclosed** Mar 2012

**[Grandis](https://millionrounds.com/company/grandis)** Bought by [Samsung Electronics](https://millionrounds.com/fund/samsung-electronics) **Undisclosed** Aug 2011

**[Liquavista](https://millionrounds.com/company/liquavista)** Bought by [Samsung Electronics](https://millionrounds.com/fund/samsung-electronics) **Undisclosed** Jan 2011

**[Fat Spaniel Technologies](https://millionrounds.com/company/fat-spaniel-technologies)** Bought by Power-One **Undisclosed** Oct 2010

**[Solaicx](https://millionrounds.com/company/solaicx)** Bought by [MEMC Electronic Materials](https://millionrounds.com/fund/memc-electronic-materials) **$66M** May 2010

**[SunEdison](https://millionrounds.com/company/sunedison)** Bought by [MEMC Electronic Materials](https://millionrounds.com/fund/memc-electronic-materials) **$200M** Oct 2009

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**Raised**

a new fund in Sept 2022

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$54M** the round, not its cheque Alone, median **$11M**

Led 1 of 43 rounds **2%**

- **Sole investor:** 6 rounds
- **Last cheque:** Oct 2026
- **Exits:** 10 from the portfolio

Rounds by stage said on their site

- Series B *14*
- Venture *9*
- Series C *6*
- Series A said *5*
- Growth *3*
- Series D *3*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Polaris Partners](https://millionrounds.com/fund/polaris-partners) 5
- [ARCH Venture Partners](https://millionrounds.com/fund/arch-venture-partners) 4
- [D.E. Shaw & Co.](https://millionrounds.com/fund/d-e-shaw-and-co-2) 4
- [Intel Capital](https://millionrounds.com/fund/intel-capital) 4
- [Core Capital Partners](https://millionrounds.com/fund/core-capital-partners) 3
- [Illinois Ventures](https://millionrounds.com/fund/illinois-ventures) 3

**Pitching Applied Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Applied Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**Polaris Partners** VC firm **5** rounds together](https://millionrounds.com/fund/polaris-partners)[**ARCH Venture Partners** VC firm **4** rounds together](https://millionrounds.com/fund/arch-venture-partners)[**D.E. Shaw & Co.** Growth equity **4** rounds together](https://millionrounds.com/fund/d-e-shaw-and-co-2)[**Intel Capital** Corporate VC **4** rounds together](https://millionrounds.com/fund/intel-capital)[**Core Capital Partners** VC firm **3** rounds together](https://millionrounds.com/fund/core-capital-partners)[**Illinois Ventures** Government **3** rounds together](https://millionrounds.com/fund/illinois-ventures)[**In-Q-Tel** Accelerator **3** rounds together](https://millionrounds.com/fund/iqt)[**Intersouth Partners** VC firm **3** rounds together](https://millionrounds.com/fund/intersouth-partners)[**Allco Renewable Energy** Growth equity **2** rounds together](https://millionrounds.com/fund/allco-renewable-energy)[**Bay Partners** VC firm **2** rounds together](https://millionrounds.com/fund/bay-partners)[**Bekaert** Corporate VC **2** rounds together](https://millionrounds.com/fund/bekaert)[**Black River Asset Management** Growth equity **2** rounds together](https://millionrounds.com/fund/black-river-asset-management)

## Recently backed

The latest companies Applied Ventures put money into.

[**Albert Invent** Oct 2026](https://millionrounds.com/company/albert-invent)[**Albert** $55M · Oct 2026](https://millionrounds.com/company/albert)[**Flexcompute** Oct 2026](https://millionrounds.com/company/flexcompute)[**Living Optics** $20M · Oct 2026](https://millionrounds.com/company/living-optics)[**Scintil Photonics** $58M · Sept 2025](https://millionrounds.com/company/scintil-photonics)[**Ayar Labs** $155M · Dec 2024](https://millionrounds.com/company/ayar-labs)

## Quick answers about Applied Ventures

### What does Applied Ventures invest in?

Applied Ventures invests most often at Series B and Venture (57% of the rounds on record), in sectors such as E-Commerce, Marketplace and Advanced Materials.

### How active is Applied Ventures?

43 investments on record, 4 of them in the last 12 months, and it led 1. The most recent was in Oct 2026.

### What has Applied Ventures invested in recently?

Its most recent investments on record: Albert Invent (Growth, Oct 2026), Albert (Series B, Oct 2026) and Flexcompute (Oct 2026).

### How big are Applied Ventures's cheques?

The median round it joins is $54M.

### Does Applied Ventures lead rounds?

Sometimes: it led 1 of its 43 investments on record (2%).

### Where does Applied Ventures invest?

Most of the companies it backs are in the United States (88%).

### Is Applied Ventures investing now?

Yes: it is actively investing, with 4 investments in the last 12 months.

### Who does Applied Ventures invest alongside?

Most often Polaris Partners (5 rounds together), ARCH Venture Partners (4 rounds together) and D.E. Shaw & Co. (4 rounds together).

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