LAS VEGAS – May 1, 2025 – A new venture fund is betting big on Las Vegas’ startup scene. Desert Forge Ventures (DFV) launches today and aims to close the funding gap that has long held back some of Nevada’s most promising startups. Led by former UNLV president Len Jessup, DFV is on a mission to help turn Las Vegas into a national hub for cutting-edge innovation.
“With Las Vegas’ rapid startup growth, there’s a critical need for local venture capital to support and scale these businesses,” said Len Jessup, general partner of DFV and former president of both UNLV and Claremont Graduate University. “Desert Forge Ventures is filling that gap, ensuring that high-potential startups have the resources they need to succeed while strengthening Nevada’s long-term economy.”
Desert Forge Ventures Fund I will provide $100,000 to $1 million investments in Pre-Seed to Series A startups across industries, prioritizing Deep Tech innovations such as AI, Machine Learning, Quantum Computing, Advanced Materials and Nanotechnology, Robotics and Automation, and Big Data and Analytics. The fund is targeting these innovations as they are applied in key sectors, such as:
- Biotechnology, Medical Devices, & Healthcare
- Space Tech
- Energy, Clean Tech, and Sustainability
- Hospitality, Sports, Gaming, and Entertainment Tech
- Sustainable Agriculture and Food Tech
- Advanced Manufacturing and Logistics
DFV grew from a collaboration between Jessup and UNLV, and with support from the U.S. Economic Development Administration’s Build to Scale Capital Challenge. DFV employs a strategic sourcing approach to identify promising startups. By leveraging collaborations with UNLV, local innovation hubs and global industry leaders, the firm gains early access to groundbreaking ventures. DFV also taps into Nevada’s growing startup ecosystem and syndicate opportunities, ensuring a strong deal flow of potential companies.
DFV has also entered into a co-investment agreement with Battle Born Venture, Nevada’s state-sponsored venture capital program overseen by the Governor’s Office of Economic Development and funded by the federal State Small Business Credit Initiative. Battle Born Venture will boost support for promising Nevada startups by matching DFV in qualifying investments.
The firm also works with partners locally, nationally and abroad to attract international startups looking to relocate to Las Vegas, further strengthening the region’s position as an emerging hub for innovation.
Despite a thriving startup ecosystem, Jessup said Las Vegas has lacked sufficient deep, local venture capital resources needed to sustain and scale new businesses. “DFV aims to change that by investing in startups that stay in Nevada, creating jobs and fostering economic resilience,” he said.
Las Vegas has seen a boom in startup activity, yet it remains one of the most underfunded tech hubs in the country. DFV is stepping in to change that—backing Nevada-based founders with the early-stage funding they need to scale without leaving the state. DFV is built by Nevadans, for Nevadans, to address the often-overlooked regional talent.
“Innovation thrives when local startups have the capital and support to grow,” said Rich Sloan, partner with DFV and co-founder of StartupNation Media Group. “By backing founders at the earliest stages, we’re helping to shape the next generation of groundbreaking businesses right here in Nevada.”
DFV will operate independently from UNLV but will serve as a key collaborator for the university.
“Desert Forge Ventures represents a bold step forward in UNLV’s commitment to advancing economic development and supporting innovation, especially those created by UNLV’s outstanding researchers, faculty, and students,” said Zach Miles, senior associate vice president for economic development at UNLV and a key driver behind DFV. “By investing in startups that complement and add to our established industries, we’re creating new pathways for growth and positioning Las Vegas as a regional hub for broad entrepreneurial success.”
DFV is now accepting investors who would like to participate in DFV Fund I. The minimum investment into the fund is $200,000. Early-stage founders and investors interested in joining DFV’s mission, please visit www.desertforgeventures.com or contact Len Jessup’s team at christel@desertforgeventures.com.
ABOUT DESERT FORGE VENTURES
Desert Forge Ventures is a Las Vegas-based venture capital firm dedicated to fostering innovation, entrepreneurship and economic diversification in Nevada. Led by former UNLV president Len Jessup and a team of seasoned entrepreneurs, investors and industry experts, Desert Forge Ventures provides not just capital, but also strategic guidance to help businesses scale and succeed. Focusing on UNLV and Las Vegas-based high-growth industries— powered by Deep Tech, such as AI, Machine Learning, Quantum Computing, Advanced Materials and Nanotechnology, Robotics and Automation, and Big Data and Analytics —Desert Forge Ventures invests in companies that drive innovation and long-term economic resilience. By providing strategic investments and mentorship to early-stage startups, the firm aims to further position Las Vegas as a leading hub for technology, business and research-driven advancements. Learn more at desertforgeventures.com.