Capital Allocators – Inside the Institutional Investment Industry [REPLAY] Josh Wolfe – Seeing the Lux (Capital Allocators, EP.65)
Dec 8, 2025
Josh Wolfe, co-founder of Lux Capital, shares his journey from Coney Island to venture capital. He discusses his unique approach to investing in deep technology, emphasizing finding neglected opportunities and the importance of strong teams over mere tech. Wolfe explains innovative frameworks like the half-life of tech intimacy and the dynamics of sourcing deals. He also reflects on lessons from past mistakes and offers insights on navigating the complexities of the private capital landscape, all while advocating for high expectations in both life and investing.
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Early Lab Work Sparked Finance + Science
- Josh Wolfe learned markets and science simultaneously while working in an AIDS lab as a teen and watching his mentor trade futures.
- That dual exposure seeded his lifelong obsession with investing in hard science and technology.
Find What Others Aren't Seeing
- Seek opportunities where others are not looking to capture outsized value from variant perceptions.
- Read widely to understand consensus and then double-click on neglected ideas.
Niche Focus Attracted Nobel Talent
- Lux carved out a niche by focusing on physical, chemistry, and material sciences ignored by many VCs during the dot-com era.
- They attracted Nobel laureates and built credibility that seeded their early funds.
