Washington-based business incubator 1776 has launched a $12.5 million seed fund for pre-Series A startups in the fields of education, energy, health, smart cities and transportation.
The company said Tuesday it is looking to invest in early-stage businesses that can potentially disrupt regulated industries.
“Technology is permeating the global economy and unmooring it from its industrial era roots, creating massive opportunities for innovation,” said Evan Burfield, 1776 co-founder and co-CEO.
“Startups in [regulated] markets, with the right combination of capital, market sophistication, and insider relationships, can scale in ways never before imaginable.”
1776 noted that it will invest an average of $100,000 for each startup under the seed fund.