While Silicon Valley dominates the venture capital landscape, Pillar VC is doubling down on Boston’s tech ecosystem, finding opportunity where others overlook it. Founded in 2016 by veteran investor Jamie Goldstein, Pillar VC has carved out a niche by sourcing three-quarters of its deals from the Boston area—an ecosystem often neglected by Bay Area investors.
Unlike Silicon Valley VCs that look for market-ready startups from Google alumni or Y Combinator, Pillar takes a different approach. It mines cutting-edge research from MIT, Harvard, the University of Pittsburgh, and other top institutions, turning PhD students and professors into entrepreneurs. While many firms find this process too risky, Goldstein sees it as Pillar’s competitive advantage.
“We love rolling up our sleeves and helping them find a market,” says Goldstein. The firm’s academic-first approach has allowed it to capitalize on deep tech innovations that often go unnoticed in the Bay Area.
According to Tony Kulesa, an investing partner at Pillar, venture capitalists underestimate the speed of technological advancements. He cites ChatGPT’s rapid development, which came just five years after a breakthrough research paper introduced its foundational architecture.
“VCs overlook how fast research-driven products can scale,” Kulesa notes. Pillar acts as a bridge between academic research and commercialization, ensuring that groundbreaking innovations reach the market faster than traditional models allow.
Pillar’s unique approach is further reinforced by its network of 32 ‘pillars’—experienced executives who serve as advisors and investors. The firm initially launched with 16 founding CEOs from companies like Wayfair and DraftKings. Its growing roster now includes Mike Salguero (ButcherBox) and Dr. Shiv Rao (Abridge), who are joining with Pillar’s latest fund.
Pillar VC Expanding Investments with a New $500M Fund
With $500 million in assets under management, Pillar is gearing up for a new wave of investments. The firm has already demonstrated strong returns, with recent exits including Zilla Security’s $175 million acquisition by CyberArk in February.
Pillar has also embraced secondary market sales to generate liquidity, a once-taboo practice now widely accepted. “Recycling capital back into the ecosystem is incredibly valuable,” Goldstein explains.
As Pillar begins deploying capital from its largest fund yet, the firm remains committed to Boston’s overlooked tech scene. By fostering deep-tech and academic innovation, leveraging a network of industry leaders, and embracing new models for venture success, Pillar VC is ensuring that Boston continues to be a powerhouse for technological breakthroughs.
