# Pax Ventures: portfolio, investments and team > Pax Ventures is a vc firm based in United States. 2 investments on record, 1 in the last 12 months, latest Nov 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/pax-ventures (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Pax Ventures Last cheque observed Nov 2026; 2 cheques on record. Email VC firm Deploying now New fund $1.3M, Oct 2026 Seed Series A Defense Energy Manufacturing Follow Pax Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fpax-ventures) Deploying now **100%** of best year **1** **cheques in 12 months**, 2 on record Since the last cheque **3** days **00** hrs **00** min **00** sec Median round **$45M** Rounds led **0 of 2** Pitch Pax Ventures ## Pax Ventures highlights - 01 1 cheques in the last 12 months - 02 Mostly Series A: 100% of its rounds ## What they do > We invest in founders transforming foundational industries From their own website - **Type:** VC firm - **Cheque size:** Not stated - **Stages:** Seed Series A - **Sectors:** Defense Energy Manufacturing - **Based in:** San Francisco, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **2 appearances** - **2026** 1 round - **Nov** **[Lumaril](https://millionrounds.com/company/lumaril)** Series A · US · Google News search **$66M** With 5 others - **2025** 1 round - **Jul** **[Rune Technologies](https://millionrounds.com/company/rune-technologies)** Series A · US · TechCrunch **$24M** With 7 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 **1 named** MV **Michelle Volz** Managing Director of the General Partner i Filing they signed We also hold **1** person 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 they claim to have backed From their own portfolio page (on their website) **17** of 25 we have independently watched raise [Aalo](https://millionrounds.com/company/aalo-atomics)[Air Space Intelligence](https://millionrounds.com/company/air-space-intelligence)[Arbor Advanced energy](https://millionrounds.com/company/arbor)[CX2](https://millionrounds.com/company/cx2)[Chariot Defense](https://millionrounds.com/company/chariot-defense)[Daro](https://millionrounds.com/company/daro)[Lumaril](https://millionrounds.com/company/lumaril)[Mariana Minerals](https://millionrounds.com/company/mariana-minerals)[Matter](https://millionrounds.com/company/matter)[Method Security](https://millionrounds.com/company/method-security)[Nominal](https://millionrounds.com/company/nominal)[Northwood Space](https://millionrounds.com/company/northwood-space)[Plix](https://millionrounds.com/company/plix)[Radiant](https://millionrounds.com/company/radiant)[Rune](https://millionrounds.com/company/rune-technologies)[Senra Systems](https://millionrounds.com/company/senra-systems)[Standard Nuclear](https://millionrounds.com/company/standard-nuclear) American Housing Corp Astro Mechanica Supersonics Atalanta Ephemeris Galadyne Oceanus Pontem Skyband Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. New fund on file **$1.3M** raised in Oct 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Median round joined **$45M** the round, not its cheque Led 0 of 2 rounds **0%** - **Sole investor:** Never alone - **Last cheque:** Nov 2026 Rounds by stage said on their site - Series A said *2* - Seed said *-* Cheques by month Led Joined Dec 2023 Nov 2026 **Pitching Pax Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Recently backed The latest companies Pax Ventures put money into. [**Rune Technologies** $24M · Jul 2025](https://millionrounds.com/company/rune-technologies) ## Quick answers about Pax Ventures ### What does Pax Ventures invest in? Pax Ventures invests most often at Series A (100% of the rounds on record), in sectors such as Defense, Energy and Manufacturing. ### How active is Pax Ventures? 2 investments on record, 1 of them in the last 12 months. The most recent was in Nov 2026. ### What has Pax Ventures invested in recently? Its most recent investments on record: Lumaril (Series A, Nov 2026) and Rune Technologies (Series A, Jul 2025). ### How big are Pax Ventures's cheques? The median round it joins is $45M. ### Is Pax Ventures investing now? Yes: it is actively investing, with 1 investments in the last 12 months. ### What kind of investor is Pax Ventures? Pax Ventures is a VC firm based in San Francisco, United States. ### Has Pax Ventures raised a new fund? Its latest fund filing with the SEC was in Oct 2026, reporting $1.3M raised. ### Where does this information on Pax Ventures come from? From 3 articles and filings naming it in a round, public registers and its own website, checked and rebuilt every night. ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=pax-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=pax-ventures)