Slater Technology Fund

Slater is an evergreen not-for-profit seed fund. Unlike a traditional venture capital firm, it does not raise funds from limited partners or aim to return capital to investors. It is a perpetual entity designed to fuel new venture creation in Rhode Island, using investment returns to fund future deals.

Slater positions itself as the entrepreneur's first and foremost ally, often providing the first institutional capital. The firm states it leads or co-invests in seed-stage rounds. Given its mandate, Slater likely leads or structures rounds where no other institutional lead exists, then works to bring in outside lead investors for subsequent financing.

The board is chaired by Larry Larson, the Sorensen Family Dean of Engineering at Brown University, and includes a Vice President for Research from the University of Rhode Island. Managing Director Thorne Sparkman actively guest-lectures at Brown and works with university teams commercializing research. The fund's deal flow is closely tied to Rhode Island's academic and research ecosystem.

Slater does not invest in companies that lack a credible plan to build and base operations in Rhode Island. Beyond its geographic screen, the fund focuses on seed-stage technology ventures and does not engage in later-stage growth equity, buyouts, or real estate investments. Service businesses without a technology core are impermissible per its mandate.

As an evergreen fund, Slater can participate in follow-on rounds but does not disclose a formula. Its primary function is seeding; it works to attract outside venture firms for Series A and beyond. The firm reports its portfolio has raised $690M in follow-on private capital, indicating a focus on preparing companies for, rather than dominating, later rounds.