New Mexico State Investment Council has committed up to $100 million to America’s Frontier Fund’s inaugural fund.
As part of the commitment, the nonprofit AFF plans to build a frontier technology venture studio, called Roadrunner Studios, in Albuquerque focused on commercializing cutting-edge R&D coming out of New Mexico’s national labs and universities.
“Our mission is to build new companies and technologies based on fundamental breakthroughs in science,” Gilman Louie, AFF CEO and co-founder, said in a statement. “These innovations will transform sectors like energy, healthcare, communications, and manufacturing, and will change the New Mexican, American and global economy.”
Frontier Fund I is AFF’s flagship venture fund that invests in technologies that include microelectronics, artificial intelligence, advanced manufacturing, quantum sciences, 5G/6G communications, new energy systems, and synthetic biology.
In addition to Roadrunner Studios, AFF plans to launch a national network of frontier technology venture studios across the U.S. The studios will be built in regions of the American heartland that remain largely untapped as venture ecosystems.