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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Pack Ventures announced in August 2024 that it was raising $30 million for Fund II to invest in more startups connected to the University of Washington (UW). That was a fundraising target—not evidence that the fund raised or closed at $30 million. Pack is independently run, with a preferred venture partner relationship with UW and its CoMotion innovation hub.
What Pack Ventures announced about Fund II
On August 20, 2024, UW News reported that Pack had launched its second fund and was seeking $30 million. The report said more than 50 investors were already in Fund II at the time. Neither that investor count nor the target establishes the fund’s eventual size.
A November 25, 2025 SEC filing index identifies “TU-0924 Fund II, a series of Pack Ventures, LP.” The index entry identifies a Fund II series; it does not establish a final close amount. The sources available here do not show whether Fund II ultimately reached its target.
Is Pack Ventures part of the University of Washington?
No. Pack is independently run, not a UW-owned fund. UW News and GeekWire described a memorandum of understanding and a preferred venture partner relationship between Pack, UW and CoMotion. CoMotion’s investor page lists Pack as a pre-seed and seed fund for founders associated with the UW network.
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The relationship connects an independent investor with a university research and startup ecosystem. CoMotion also lists other organizations in that broader ecosystem, including Washington Research Foundation, Osage University Partners and Alliance of Angels; their presence on the same page does not make them Pack affiliates or sponsors.
How Pack says it chooses startups
Pack’s current philosophy describes an early-stage, research-led focus. It says it works at the idea, pre-seed and seed stages, may join seed and pre-Series A rounds, and occasionally participates in Series A. The following details are Pack’s own description of its approach, not independently audited investment results.
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What counts as a UW connection
Pack says a company may qualify through founders or contributors connected to UW, a university spinout, a founder who is a UW alumnus, faculty member or staff member, a UW-connected investor or adviser, or an opportunity to work closely with UW researchers, labs or departments. Pack says it invests in companies anywhere in the United States, so the UW link is about the people, research or partnership opportunity—not a requirement that a company be located in Seattle.
Stages, checks and areas of interest
Pack’s current FAQ says it typically invests in first institutional rounds and gives a typical check size of $100,000 to $500,000. Its stated areas of interest include software, healthcare and life sciences, with particular attention to AI integration across industries, AI combined with biology, robotics and autonomous systems, and computing architecture and photonics.
What the reported Fund I numbers show—and why they differ
Two accounts published on August 20, 2024 gave different snapshots of Pack’s earlier fundraising and portfolio. Their figures should be kept separate: neither publisher explained the discrepancy, and the available information does not establish which scope or timing difference accounts for it.
| Publisher and date | Reported Fund I figures |
|---|---|
| UW News, August 20, 2024 | More than $10 million raised from more than 100 investors; investments in 29 UW-connected companies. UW News said those companies had raised more than $130 million in additional venture funding or grants. |
| GeekWire, August 20, 2024 | Around $5 million raised from more than 80 investors; investments in 26 companies. |
These are publisher-reported historical totals, not a single reconciled account. The additional funding or grants reported by UW News were raised by portfolio companies; they were not Pack fund assets or investment returns.
The 2024 UW News story also reported that Pack founder Ken Horenstein planned to donate up to 2% of his personal proceeds to UW. That is a reported personal pledge, not a fund return or a guaranteed donation. The sources do not establish a Pack performance or realized-return figure.
Examples of startups cited in 2024 coverage
UW News and GeekWire used several companies to illustrate Pack’s UW connections: Monod Bio, a spinout from UW Medicine’s Institute for Protein Design; Rainfall Health, a digital health startup founded by a UW alumnus; Outbound AI, a healthcare software startup co-founded by a UW alum; and biotech company Talus. These are examples named in 2024 reporting, not a definitive list of Pack’s current portfolio.
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Why the UW connection matters to Pack’s thesis
Pack founder Ken Horenstein described the fund as a connector between investors and startups: “I’m kind of a marketplace. I’m trying to pair people who have investment dollars to good investment opportunities,” he told UW News on August 20, 2024.
He also framed the focus on UW as a way to find promising opportunities that might be overlooked. UW News reported that the university received more than $1.5 billion in federal research funding in fiscal year 2023. That figure describes UW’s research funding, not Pack’s capital or the amount available to its startups.
The partnership rationale is also institutional: Chris DeVore, creator of Founders’ Co-op, told UW News, “If we’re better at supporting entrepreneurs, it will, in the long run, support our advancement goals as an institution,” reflecting the potential value of stronger startup support to the university.
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What prospective investors should not infer
- The $30 million figure was a target announced in August 2024, not a verified amount raised or closed.
- The preferred-partner relationship does not mean UW owns Pack or guarantees the fund’s investments.
- Pack’s stated check size and investment strategy describe its own approach; they are not evidence of performance.
- The cited sources do not establish current eligibility to invest, minimum investment, fees, carried interest, liquidity terms or realized returns. The 2024 GeekWire description of the fund’s structure is historical reporting, not confirmation of current offering terms.
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