99 Tartans, LLC

ActiveVenture Capital

Updated: Mar 18, 2026 ·

About

99 Tartans, LLC partners with high-potential early-stage companies affiliated with Carnegie Mellon University. It provides access to capital and networks, accelerating venture growth. Operating as an AngelList Syndicate, the firm typically invests $100K–$150K into convertible notes or SAFE seed rounds, with $5K minimums per deal, fostering broad alumni participation.

The organization was founded by volunteer Carnegie Mellon alumni and students, including Robb Myer. This initiative stemmed from the recognition that numerous new ventures emerge annually from the CMU community. Founders aimed to ensure these startups receive funding, mentorship, and support to thrive within the entrepreneurial ecosystem.

99 Tartans primarily serves early-stage founders within the CMU alumni network and CMU alumni investors. Its long-term vision is to elevate the Carnegie Mellon entrepreneurial community, aspiring to establish it as a world-leading hub for innovation. The firm continuously fosters a supportive environment for its affiliated startups.

Financial History

Total Raised

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Valuation

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Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at 99 Tartans, LLC.

Robb Myer

Partner

Leadership Team

Key people at 99 Tartans, LLC.

Robb Myer

Partner

Deep Dive

High-Level Overview

99 Tartans, LLC is an investment group focused on backing early-stage startups founded by Carnegie Mellon University (CMU) alumni. Their mission is to foster innovation and entrepreneurship within the CMU community by providing capital, mentorship, and network access to seed and pre-seed ventures. They concentrate on startups with strong technical roots from CMU, particularly in sectors such as fintech, artificial intelligence, blockchain, and health technology. By leveraging the unique skills and insights of CMU founders, 99 Tartans aims to build a cohesive entrepreneurial ecosystem that supports the growth and success of these ventures[1][2][5].

Origin Story

Founded by a group of CMU alumni, 99 Tartans emerged from a shared passion to give back to their alma mater and strengthen its entrepreneurial community. The firm focuses exclusively on companies with at least one founder affiliated with CMU, emphasizing a deep connection to the university’s technical DNA. Over time, 99 Tartans has evolved to become a top-tier fund managing over 15 deals, including notable exits such as IPOs, while maintaining a contrarian investment style that identifies undervalued opportunities in emerging markets. The group operates primarily in the USA and Canada, with a virtual and collaborative investment process that includes mentorship and rapid due diligence[1][2][4].

Core Differentiators

Exclusive CMU Alumni Focus: Investments are limited to startups with at least one CMU-affiliated founder, ensuring a strong technical and cultural alignment.
Early-Stage Expertise: Concentrates on pre-seed and seed rounds, providing critical early capital and support.
Strong Network and Mentorship: Offers founders access to a robust network of experienced CMU alumni investors and mentors.
Efficient Investment Process: Virtual meetings with quick decision timelines, typically within three weeks from presentation to commitment.
Track Record: Managed over 15 deals with successful exits, including IPOs, demonstrating operational expertise and growth support[1][2].

Role in the Broader Tech Landscape

99 Tartans rides the trend of university-affiliated venture investing, leveraging the innovation pipeline from a leading technical institution. The timing is favorable due to increasing demand for specialized early-stage capital that understands deep tech and founder backgrounds. By focusing on CMU alumni, 99 Tartans taps into a unique talent pool with cutting-edge technology and entrepreneurial drive. This approach strengthens the broader startup ecosystem by accelerating the commercialization of advanced technologies and fostering a collaborative community that shares knowledge and resources[1][6].

Quick Take & Future Outlook

Looking ahead, 99 Tartans is well-positioned to expand its influence by continuing to back high-potential CMU startups and scaling its network of investors and mentors. Trends such as AI, blockchain, and health tech will likely shape their portfolio focus, aligning with CMU’s strengths. Their model of combining capital with community and mentorship could serve as a blueprint for other university-affiliated funds. As they grow, 99 Tartans may deepen their impact on the startup ecosystem by enabling more alumni ventures to achieve global success, reinforcing the virtuous cycle of innovation and investment within the CMU network[1][2][6].

Sources

Frequently Asked Questions

What is the mission and operational focus of 99 Tartans, LLC?

99 Tartans is an alumni-led venture capital firm focused on identifying and accelerating high-potential early-stage companies affiliated with Carnegie Mellon University (CMU). Its mission is to support CMU startups by providing access to capital and extensive networks, aiming to elevate the CMU entrepreneurial community. The firm specifically targets ventures founded by CMU students, faculty, or alumni.

How is 99 Tartans structured and what is its investment model?

99 Tartans operates using a syndicate model, similar to AngelList, where volunteer CMU alumni and students organize investments. For each investment, a new Limited Liability Company (LLC) is created, allowing members to opt-in to specific deals with a minimum investment of $5,000. The firm charges no membership or management fees, instead taking a 20% carry on returns, split between the Alumni Lead and 99 Tartans for operational expenses.

What are the key criteria and requirements for startups seeking investment from 99 Tartans?

99 Tartans primarily seeks companies with a full-time CMU founder (student, faculty, or alumnus) and established traction, ideally with paying customers or active pilots. They look for innovation rooted in next-generation technologies like robotics, AI, or advanced materials, within large and growing markets. Additionally, startups must have an "Alumni Lead Investor" to champion their investment with other members, and 99 Tartans participates in, rather than leads, funding rounds.

What are the typical investment terms and benefits for companies funded by 99 Tartans?

99 Tartans typically invests between $100,000 and $150,000 into convertible notes or SAFE seed rounds, usually within larger rounds of $500,000 to $1,000,000. Beyond capital, founders gain access to a comfortable community for honest feedback, mentorship from hundreds of investing alumni, and an expanded network within the CMU ecosystem. They also seek follow-on rights on Series A conversion terms.

Who can become an investor with 99 Tartans and what are the participation requirements?

Membership is open to all Carnegie Mellon University alumni who are accredited investors and able to invest in non-publicly traded securities. While there are no membership fees, investors are asked to make at least one investment per year, with a minimum of $5,000 per deal. The group had 141 members as of August 2019, distributed across Pittsburgh, San Francisco, NYC, and other parts of the US.