Millie Liu

Founder and Managing Partner, First Star Ventures
Millie Liu, raised in Shenzhen, is comfortable with founders building in uncharted territory and screens deep-tech by asking whether a Google engineering team could rebuild the technology in a year.
How to contact Millie Liu
Stages their fund invests in
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Sectors their fund invests in
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Avg Check
$100K - $1M
N/A
Does their fund Lead?
No
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Geos their fund invests in
USA
Millie Liu
Stages their fund invests in
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Sectors their fund invests in
AI
Biotech
Climate
Deeptech / Hardware
Data
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Avg Check
$100K - $1M
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Leads?
No
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About Millie Liu

Millie Liu grew up in Shenzhen during its rapid transformation from blank canvas to megacity, which shaped her comfort with backing founders building in uncharted territory without established playbooks. She applies a distinctive screening test to deep-tech startups by asking whether a small team of Google engineers could recreate the technology in under a year—if yes, she considers it insufficiently defensible for investment.

Millie Liu's Interests

What they've been talking about across their social media accounts
  • Active engagement with the Boston and New England startup ecosystem. She frequently highlights local opportunities and accolades, such as celebrating local lists from Business Insider or participating in events like the NEVYs and Boston Startup Week.
  • Strong advocacy for diversity and inclusion within the venture capital and founder communities. She promotes initiatives to support female investors and founders, such as hosting office hours specifically for women and participating in campaigns to expand her professional network of women in the industry.
  • Focus on deep tech, industrial innovation, and data-centric solutions. Her content often revolves around complex technical subjects, including industrial IoT, open-source genomics, and data science applied to traditional industries like parking.
  • Commitment to providing accessible mentorship and feedback to early-stage entrepreneurs. She promotes events designed to lower the barrier to entry for founders, such as Unpitch sessions where investors provide advice over lunch rather than demanding formal pitches.
  • connection to the MIT community and network. She identifies with the institution, sharing updates related to the Sloan School of Management and using specific hashtags to signal pride in that alumni group.

About their Fund

First Star Ventures

Sectors
AI, Biotech, Climate, Deeptech / Hardware, Data
Rounds
Pre-Seed - Seed
Avg Check Size
$100K - $1M

First Star Ventures is co-founded by two deeply technical former founders—Drew Volpe (conversational AI, search/unstructured databases, computational bio, blockchain) and Millie Liu (AI/ML analytics at APT → $600M Mastercard acquisition; co‑founded Infervision, an AI medical imaging company backed by Sequoia China)—who apply a distinctive technical bar where they won't invest if "3–5 Google engineers could quit and recreate the product in 3–12 months." The Boston/Cambridge-based fund specializes in pre-seed and seed investments in "computing x real-world" companies across techbio, climate, robotics, and industrial infrastructure, explicitly positioning against the last decade's SaaS/consumer-driven VC playbook by arguing that future outliers will look very different from past VC winners.

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