WRF Capital

WRF Capital is the venture investment arm of the Washington Research Foundation (WRF), an independent nonprofit established in 1981 and headquartered in Seattle, WA. It focuses exclusively on early-stage startups based in Washington State, with particular emphasis on spinouts from nonprofit research institutions including the University of Washington, Washington State University, Fred Hutch, and the Institute for Systems Biology. WRF Capital deploys approximately $5 million annually, with initial checks ranging from $100K to $2M and reserves held for follow-on financings. It invests across pre-seed through Series A stages in life sciences (biotechnology, pharmaceuticals, medical devices, digital health), information technology (enterprise software, internet-based solutions), and physical sciences (advanced materials, scientific instrumentation). The firm is often the first institutional money in and can lead rounds, syndicating with angels and VCs. Its capital base is derived from intellectual property royalty streams from Washington State research institutions. Since 1996, WRF Capital has invested in more than 130 local startups. Founders can reach the investment team at investments@wrfcapital.com.