Pax Ventures

Pax Ventures (Pax VC) is a seed-stage venture capital firm founded by Michelle Volz, formerly a partner on the American Dynamism team at Andreessen Horowitz. The firm raised a $50 million debut fund (Fund I), announced in March 2026, focused on founders building in defense tech, aerospace, energy, advanced manufacturing, and industrial supply chain reinvention. Pax's investment thesis — which it calls 'Pax Technica' — holds that the next phase of global leadership will be rooted in technical superiority of the physical world, prioritizing 'atoms over bits.' Portfolio companies include Radiant (portable nuclear microreactors), Aalo (mass-manufactured nuclear plants), Chariot Defense (battlefield energy systems), Galadyne (liquid-propelled defense systems), Northwood Space, Standard Nuclear, and Mariana Minerals, among others. Volz invests solo and has indicated plans to expand the partnership over time. Founders can reach the firm at hello@pax.vc.