Defense & SpaceManufacturingClimate & EnergyRobotics & AutomationCybersecurityLogistics & Supply Chain
Pax Ventures is an early-stage venture capital firm founded by former Andreessen Horowitz partner Michelle Volz, investing in technical founders transforming foundational industries under the thesis 'Pax Technica' — focusing on defense, aerospace, energy, manufacturing, robotics, and industrial supply chains.
33% of their portfolio is in Cybersecurity. They made 5 investments in the last 12 months. Their most common stage is series-b (50% of deals). Average disclosed round size is $123.6M (across 6 rounds with reported amounts).
Portfolio
5
Fund Size
$50M
Top Stage
Series B
Last 12 Mo
5
Team
MV
Michelle Volz
Managing Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
6 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Mariana Minerals | Series B | $310M | Aug 2026 |
| MMariana | Series B | $310M | Aug 2026 |
| SSenra | Series B | $65M | Jul 2026 |
 Method Security | Seed | $26M | Nov 2025 |
| Method Security | Series A | $26M | Nov 2025 |
| GGaladyne | Pre-Seed | $4.8M | — |
Top Co-Investors
Andreessen Horowitz6 shared
General Catalyst3 shared
Earthshot Ventures2 shared
StepStone Group2 shared
Breakthrough Energy Ventures2 shared
Washington Harbour Partners2 shared
Greycroft2 shared
Khosla Ventures2 shared
Mitsubishi Corporation2 shared
Greenoaks Capital2 shared
Forward Deployed Venture Capital2 shared
WndrCo2 shared
Crossbeam Venture Partners2 shared
NFDG2 shared
In-Q-Tel1 shared
Halo Capital1 shared
Jackson Moses1 shared
8VC1 shared
Alumni Ventures1 shared
CIV1 shared
Last updated: 19 September 2026