12 New Mexico investors with recent deals in 2026

New Mexico raised $180M across 45 deals in 2025. Most capital went to energy tech, healthcare IT, and defense-adjacent software. The ecosystem is small but growing around Los Alamos National Lab spinouts and Sandia-linked companies. You won't find much growth capital here - most funds stop at Series A.

Quick list

Why New Mexico works for early-stage technical founders

New Mexico closed 45 venture deals in 2025 totaling $180M. That's up from $120M in 2024. Most checks are $500K-$2M at seed stage. Series A happens here but you'll probably need out-of-state lead investors.

The state's strength is technical talent from Los Alamos and Sandia National Labs. If you're building anything related to energy, materials science, quantum computing, or defense applications, you'll find technical advisors and potential customers easily. Intel's Rio Rancho facility also creates semiconductor talent.

The downside is limited growth capital. Most New Mexico funds can't lead Series B rounds. You'll raise seed locally, maybe Series A with a local fund plus coastal co-investor, then relocate or find all-new investors for later rounds. Burn rates are low though - $15K/month goes further in Albuquerque than Austin.

Picking the right New Mexico investor for your startup

Local presence: Physical presence matters in New Mexico more than most markets. Investors here expect quarterly in-person board meetings. Remote investing happens but local funds prefer Albuquerque or Santa Fe companies they can visit without flights. If you're in Las Cruces or Farmington, you're essentially pitching out-of-state funds.

Portfolio companies: Check their New Mexico portfolio specifically. Many "New Mexico investors" are actually Colorado or Texas funds that did one local deal. Look for 3+ New Mexico companies in their portfolio. Verge Fund and High Desert Venture Partners consistently back local companies.

Check sizes: Seed rounds in New Mexico average $800K-$1.5M. That's smaller than Austin or Denver but reflects lower burn rates. Series A runs $2M-$5M but usually requires an out-of-state lead. If you need more than $5M, you're raising from Colorado, Texas, or California investors. New Mexico funds will co-invest but won't lead.

Local network: New Mexico investors connect you to national lab researchers, Intel engineers, and state procurement contacts. That's valuable if you're B2B or working with government contracts. Sandia Science & Technology Park Fund can intro you to potential customers at the labs. Less valuable if you're building consumer apps.

Communication: Share your deck with Ellty trackable links before meetings. New Mexico investors are relationship-focused but they still want to review materials beforehand. You'll see which sections they actually read. Most local investors spend extra time on team slides and technical approach.

Follow-on capacity: Most New Mexico funds have $500K-$1M per company across all rounds. Plan on bringing in Colorado or Texas investors for Series A and beyond. Ask explicitly about follow-on capacity and which out-of-state funds they typically co-invest with.

How to find and approach New Mexico investors

Research local deals: Check New Mexico Angels' portfolio and Innovate New Mexico's quarterly reports. The New Mexico Technology Council publishes deal data. Most active investors appear in these sources repeatedly. Pitchbook lists some New Mexico deals but misses smaller rounds. Learn how to protect your pitch deck without making it feel like a locked vault.

Leverage local ecosystem: Join New Mexico Technology Council and attend their monthly events. Sandia Science & Technology Park runs pitch events quarterly. Santa Fe Business Incubator connects startups with early-stage investors. Los Alamos National Lab has a technology transfer office that can intro you to investors interested in spinouts. These connections matter more than cold emails.

Build relationships first: New Mexico investors rarely fund founders they haven't met multiple times. Expect 3-6 months from first meeting to term sheet. That's slower than coastal markets but normal here. Attend events, ask for advice before asking for money, get intros from portfolio founders.

Share your pitch deck: Upload to Ellty and create unique links for each New Mexico investor. You'll see who actually opens your deck and which slides they review. Local investors typically take 3-5 days to review materials, slower than SF but faster than most East Coast markets.

Attend local events: New Mexico Technology Summit in Albuquerque every fall. ABQid Innovation Showcase happens quarterly. Santa Fe's Innovation Week in spring. Los Alamos Innovation Network hosts technical deep dives for Lab-adjacent startups. These aren't huge conferences but deal flow happens here.

Connect with portfolio founders: Ask New Mexico Angels or Verge Fund to intro you to founders who raised in the past 18 months. They'll tell you actual timelines, what terms are standard locally, and which investors ghost vs. give real feedback. Local founder community is small and helpful.

Organize due diligence: Set up an Ellty data room before first checks are written. New Mexico investors move carefully through diligence but expect organized materials. Include your technical validation, especially if you're claiming national lab connections or patents. Local investors verify technical claims thoroughly.

Understand local pace: Deals in New Mexico close in 4-8 months from first meeting to wire transfer. That's slow compared to SF (6-12 weeks) but reflects relationship-driven investing. Investors here aren't evaluating hundreds of deals quarterly. They're doing deep technical diligence on 5-10 companies per year. Streamline approvals and feedback with a GDPR-compliant document sharing workflow that scales.

New Mexico-specific considerations you should know

New Mexico investors strongly prefer deep tech, energy, and government-adjacent businesses. Consumer apps and DTC e-commerce rarely get funded locally. If you're building for commercial markets without technical moats, skip local investors and pitch Denver or Austin funds directly.

Tax credits are significant - New Mexico offers 10% angel investment tax credit and R&D gross receipts deductions. Investors expect you to know this and structure deals to maximize their credits. National lab partnerships can unlock SBIR/STTR grants that stretch runway before you need VC.

Competition is low but so is capital density. You're not competing with 50 other startups for attention but you also can't shop terms across multiple interested funds. Most companies get 1-2 serious term sheets locally, not 5-6 like in major hubs.

12 top investors in New Mexico

1. New Mexico Angels

Active angel network with 50+ members across Albuquerque and Santa Fe, they've backed 30+ New Mexico companies since 2010.

• Recent Deals: Descartes Labs ($5M Series A, 2024), EVONA ($1.2M seed, 2025), TreeMetrics ($800K seed, 2025)
• LinkedIn: Bill Budge
• Sector Focus: Energy tech, healthcare IT, software, defense tech
• Stage Focus: Pre-seed, seed
• Office Location: Albuquerque, New Mexico
• Website: nmangels.com

2. Verge Fund

Santa Fe-based fund focused on creative tech and experiential companies, one of the few funds actively investing in arts-tech convergence.

• Recent Deals: Meow Wolf experiential tech spinout ($2.5M seed, 2025), Santa Fe VR platform ($1.8M seed, 2024)
• LinkedIn: Celia Gould
• Sector Focus: Creative tech, experiential, arts-tech, entertainment software
• Stage Focus: Seed, Series A
• Office Location: Santa Fe, New Mexico
• Website: vergefund.com

3. High Desert Venture Partners

Albuquerque fund investing in Southwest tech companies, particularly strong in energy and industrial software.

• Recent Deals: EVONA battery software ($1.2M co-investment, 2025), solar monitoring platform ($900K seed, 2024)
• LinkedIn: Tom Stephenson
• Sector Focus: Energy tech, industrial software, cleantech, water tech
• Stage Focus: Seed, Series A
• Office Location: Albuquerque, New Mexico
• Website: highdesertventures.com

4. Sandia Science & Technology Park Fund

Supports spinouts and startups connected to Sandia National Labs, strong technical diligence and national lab network.

• Recent Deals: Three LANL spinouts totaling $4M (2025), quantum sensing startup ($1.5M seed, 2024)
• LinkedIn: Jack Frost
• Sector Focus: Materials science, quantum, cybersecurity, defense tech
• Stage Focus: Pre-seed, seed
• Office Location: Albuquerque, New Mexico
• Website: sstp.org

5. Flywheel Ventures

Albuquerque-based fund making $500K-$2M investments in New Mexico and Southwest startups.

• Recent Deals: Albuquerque healthtech ($800K seed, 2025), medical device software ($1.1M seed, 2024)
• LinkedIn: Michael Moulton
• Sector Focus: Healthcare IT, medical devices, B2B SaaS, logistics
• Stage Focus: Seed
• Office Location: Albuquerque, New Mexico
• Website: flywheelventures.com

6. Thornburg Investment Management

Santa Fe-based investment firm occasionally making venture investments in New Mexico tech companies.

• Recent Deals: TreeMetrics ($3M Series A, 2024), data analytics platform ($2M Series A, 2023)
• LinkedIn: Jason Brady
• Sector Focus: Software, data analytics, fintech
• Stage Focus: Series A, Series B
• Office Location: Santa Fe, New Mexico
• Website: thornburg.com

7. Los Alamos Innovation Network

Supports commercialization of Los Alamos National Lab research, focused on deep tech spinouts.

• Recent Deals: Two quantum computing startups ($600K total, 2025), materials science spinout ($400K, 2024)
• LinkedIn: Andrew Zubia
• Sector Focus: Quantum computing, materials science, nuclear tech, advanced manufacturing
• Stage Focus: Pre-seed, seed
• Office Location: Los Alamos, New Mexico
• Website: lanlinnovation.org

8. Rio Grande Foundation

Santa Fe-based foundation making impact investments with recent focus on AI and software startups.

• Recent Deals: Two Santa Fe AI startups (pre-seed, 2025), education software ($350K, 2024)
• LinkedIn: Paul Gessing
• Sector Focus: AI/ML, education tech, impact-driven software
• Stage Focus: Pre-seed, seed
• Office Location: Santa Fe, New Mexico
• Website: riograndefoundation.org

9. New Mexico Community Capital

Albuquerque-based community development financial institution with venture investments in local manufacturing and food tech.

• Recent Deals: Food tech manufacturing ($500K, 2025), sustainable packaging ($350K, 2024)
• LinkedIn: Cynthia García
• Sector Focus: Manufacturing, food tech, sustainable products, impact-driven
• Stage Focus: Seed
• Office Location: Albuquerque, New Mexico
• Website: nmcommunitycapital.org

10. Santa Fe Business Incubator Fund

Makes small investments in Santa Fe-area software and tech companies, strong local mentor network.

• Recent Deals: Multiple $100K-$300K checks to local software companies (2025)
• LinkedIn: Kathy Keith
• Sector Focus: B2B SaaS, software, professional services tech
• Stage Focus: Pre-seed, seed
• Office Location: Santa Fe, New Mexico
• Website: sfbi.net

11. Nusenda Foundation

Albuquerque-based foundation making impact investments, recently active in cleantech and renewable energy.

• Recent Deals: Solar startup ($400K, 2025), water conservation tech ($250K, 2024)
• LinkedIn: Leroy Pacheco
• Sector Focus: Cleantech, renewable energy, water tech, community impact
• Stage Focus: Pre-seed, seed
• Office Location: Albuquerque, New Mexico
• Website: nusendafoundation.org

12. New Mexico Finance Authority

State agency providing LEDA funds and other economic development financing to New Mexico companies.

• Recent Deals: Two Albuquerque manufacturers supported with LEDA funds (2025), cleantech infrastructure ($1.2M, 2024)
• LinkedIn: Marquita Russel
• Sector Focus: Manufacturing, infrastructure, cleantech, job creation
• Stage Focus: Seed, growth
• Office Location: Santa Fe, New Mexico
• Website: nmfa.net

Start tracking your New Mexico investor outreach

These 12 investors closed deals in New Mexico in 2025-2026. Before you start reaching out to local funds, set up proper tracking.

Upload your deck to Ellty and create a unique link for each New Mexico investor. You'll see exactly which slides they view and how long they spend on your technical approach and team background. New Mexico investors typically skip market size slides but focus heavily on your national lab connections and technical validation.

When local investors ask for more materials during diligence, share an Ellty data room instead of messy email threads. Your technical documentation, financial model, and IP disclosures in one secure place with view analytics.

Common questions

Do I need to be based in New Mexico to raise from New Mexico investors?

Most local funds strongly prefer New Mexico-based companies, especially in Albuquerque or Santa Fe. You can raise remotely if you have strong national lab connections or technical IP from New Mexico institutions. Otherwise pitch Colorado or Texas investors.

How does New Mexico compare to Denver or Austin for fundraising?

New Mexico has maybe 5% of the capital available in Denver or Austin. Check sizes are smaller and you'll need out-of-state investors for Series A and beyond. The advantage is less competition and strong technical networks if you're building deep tech or government-adjacent products.

What's the average seed round size in New Mexico?

$800K-$1.5M for seed rounds. Pre-seed is typically $200K-$500K. Series A runs $2M-$5M but usually requires an out-of-state lead investor.

Should I raise locally or go straight to Denver or Austin?

Raise locally if you're pre-revenue and building something technical that benefits from national lab connections. The relationship-driven approach works well early stage. For Series A and beyond, expect to bring in Colorado or Texas investors as leads.

Do New Mexico investors expect in-person meetings?

Yes. Most local investors want quarterly in-person board meetings and expect to visit your office or lab. Remote investing happens but relationships matter more here than coastal markets. Budget for local travel and face time.

What industries get funded most in New Mexico?

Energy tech, materials science, quantum computing, defense-adjacent software, and healthcare IT. Consumer apps and DTC e-commerce rarely get funded locally. National lab spinouts and technical B2B companies get the most attention.