Member Spotlight: NextFab Ventures
For this deep dive, we spoke to Todor Raykov, Managing Partner of NextFab Ventures.
What defines your portfolio?
Our investment thesis centers on deep engagement with pre-seed to series A hard-tech startups that aim to reduce environmental harm and eliminate hazardous manual labor while driving productivity, safety, and resource efficiency.
We focus primarily on three key sectors: cleantech, agtech, and robotics. Our portfolio includes breakthrough companies such as Flux Marine, which develops 100% electric outboard motors; Burro, whose easy-to-use autonomous robots amplify agricultural workforces in berries, vineyards, greenhouses, nurseries and beyond; Strella, an agricultural biotech startup building biosensors that predict fruit ripeness; and ConnectDER, developers of meter collar adapters that enable quick, cost-effective home connections for solar panels and EV chargers.
What sets us apart is our early commitment to promising ventures – in many cases, we serve as the first institutional investor. We also provide long-term support with the capacity for follow-on funding across multiple rounds, coupled with extensive product development and commercialization assistance that spans years of a company’s growth journey.
Tell us about the current VC landscape in your geography/region.
Our regional investment ecosystem is predominantly oriented toward medical and biomedical ventures, reflecting the strong concentration of universities and research hospitals. Despite this focus, we’re witnessing the emergence of promising hard-tech startups from both academia and regional innovation catalysts like the Philadelphia Open Innovation Tournament.
We stand among the few investors in our region dedicated to deploying capital and resources specifically for hard-tech startups. Many of our portfolio companies have successfully practiced “VC arbitrage” – raising capital from higher-cost markets like New York and San Francisco while building their teams locally at a fraction of the cost, creating a competitive advantage in talent acquisition and operational efficiency.
What are the benefits of being an NVCA member?
We believe that NVCA’s work defending carried interest is essential, as eliminating or significantly altering this structure could disrupt capital flow to entrepreneurs across the country.
Beyond policy work, the NVCA’s network has been a primary motivation for our membership. The opportunity to connect with and learn from fellow NVCA members provides invaluable knowledge sharing and relationship building that strengthens our investment approach and industry positioning.
What’s ahead for your firm?
Our mission remains steadfast: empowering visionary hard-tech startups to create transformative technologies for a safer, more productive, and environmentally responsible future. We recognize that building hard-tech startups presents unique challenges, but these obstacles become surmountable with the backing of our experienced team of technical and business advisors who accelerate time-to-market and enhance prospects for success.
We firmly believe that software alone cannot build the future. Hardware is paramount, and we are dedicated to finding, supporting, and growing the next generation of hard-tech entrepreneurs who envision a world where automation and connected devices unlock creative innovation, boost productivity, and protect our planet.
