AJ Scaramucci’s Solari Capital Emerges With $350 Million Deployed

NEW YORK — Solari Capital, the venture investment and incubation firm founded by AJ Scaramucci, has emerged from stealth mode with $350 million deployed across early-stage startups, late-stage growth assets and companies it has incubated internally. Its initial portfolio includes Elon Musk’s artificial intelligence startup xAI, AI audio generation platform Suno and gene-writing biotechnology company Tessera Therapeutics.

The firm’s backers include former Alphabet Chief Executive Eric Schmidt, SV Angel founder Ron Conway, Breyer Capital founder Jim Breyer, Bain Capital co-chairman Stephen Pagliuca and XPRIZE founder Peter Diamandis. Scaramucci is the son of SkyBridge Capital founder and former White House communications director Anthony Scaramucci. He established Solari to pursue what the firm calls “programmable reality”: the thesis that advancing compute density enables software-like engineering across physical matter, biology, artificial intelligence and financial systems.

Elsewhere in venture financing, Dallas-based Island raised $400 million in a Series F round led by Evolution Equity Partners. The company develops an enterprise web browser platform designed for automated security and AI workflows. Precision Neuroscience, a New York-based brain-computer interface (BCI) developer, secured $250 million in Series D funding from Pershing Square, the Ackman Oxford Institute and institutional partners.

Solari’s portfolio also includes Varda Space Industries, a microgravity manufacturing startup, and Northwood Space, a satellite ground-infrastructure developer. Its investment strategy extends to a private-market bottleneck: companies are staying private for significantly longer periods before an initial public offering (IPO).

Research on historical IPOs by University of Florida finance professor Jay Ritter shows that the median age of venture-backed technology companies at listing ranged from six to nine years during the 1990s and fell to four years during the dot-com expansion in 1999. That median reached 12 years in 2023 and 13.5 years in 2024.

Among other deals, Alameda, California-based rare-earth metals extraction and processing company Solcoa Industries closed a $45 million equity round led by Bain Capital Ventures, with Felicis, Gigascale Capital, Long Journey Ventures and Dylan Field participating. New York-based HIFI, which provides infrastructure for tokenized assets and stablecoin settlement, raised $37 million in Series A funding led by Left Lane Capital.

Ritter’s market data recorded 34 technology company IPOs in 2025, against 205 in 1995. Companies were also larger at their public debut: the median venture-backed tech company completing an IPO in 2024 had approximately $132 million in trailing twelve-month revenue, compared with an inflation-adjusted $40 million in 1995. As public listings are delayed, value creation has increasingly concentrated in private growth-equity stages.

Solari’s investments aimed at that liquidity bottleneck include Fission Labs, a platform designed to tokenize private-company equity for secondary market transactions, and Architect Financial Technologies, whose derivatives exchange architecture is tailored to digital asset and AI trading ecosystems. Radial Health, Solari’s flagship internally incubated venture, has launched pre-IPO trading operations through the Nasdaq Private Market.

PicoJool, a Palo Alto, California-based developer of optical interconnect hardware for high-bandwidth AI computing clusters, secured $27.5 million in Series A funding led by Socratic Partners alongside Hudson River Trading. San Francisco-based Ando raised $20 million from Accel, Index Ventures and Emergence Capital for its workplace communications and messaging platform using integrated AI agents. Nashville-based Basalt Health, which develops artificial intelligence software to automate post-acute healthcare intake and hospital admissions, secured $20 million in Series A financing led by New Enterprise Associates (NEA), with support from Frist Cressey Ventures and 25m Health.

In private equity transactions, CloudFirst, a managed IT and cloud services portfolio company owned by Renovus Capital Partners, acquired the managed IT and cybersecurity practice of accounting and advisory firm Forvis Mazars. Financial terms of the carve-out were not disclosed. Omada, an identity and access management platform backed by European private equity firm GRO, acquired Dublin, Ohio-based identity governance software provider EmpowerID; those deal terms were kept private.

Scaramucci also operates an alternative asset enterprise focused on fractionalizing historically illiquid physical collectibles. Its recent acquisitions include a $2 million copy of *Tales of Suspense* #39, the 1963 Marvel comic marking Iron Man’s first appearance, as well as record-setting Pokémon trading cards, rare fine art and paleontological specimens.

Further venture rounds included $18 million in Series A funding for San Francisco-based Trebellar, whose enterprise AI platform analyzes facilities and corporate real estate portfolios. Blossom Capital led the round, backed by AltCapital, Haystack, 1Flourish and Kfund. Montreal-based Axya, an AI-driven procurement and supply chain management platform for industrial manufacturers, secured 17 million Canadian dollars ($12 million USD) in Series A funding led by McRock Capital, with Yamaha Motor Ventures participating.

Singapore-based IPID raised $16 million in Series A funding led by Foundation Capital and joined by Citi and HSBC. It provides cross-border payment identity and verification services. Mesa Quantum, a Boulder, Colorado-based developer of quantum-based navigation and gravity sensing systems, raised $11.8 million in a round led by Playground Global.

Dextr AI, a San Francisco-based operational workflow and customer management platform for hospitality providers, closed a $6.7 million seed round led by Elevation Capital, with Foundation Capital participating. Tampa, Florida-based Scholar Education raised $2 million in seed funding led by OneSixOne Ventures for its platform applying machine learning tools to special education curricula.

Rev1 Ventures, a Columbus, Ohio-based venture studio and seed-stage investment fund, appointed Jennifer Hankins President and Chief Executive Officer. She joins from Tulsa Innovation Labs, where she managed regional technology and economic development programs.