Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic collapse and is now raising funds for a new venture studio aimed at developing and financing startups.
The new entity, named Share Ventures, has already secured nearly $20 million in funding from notable investors including Alphabet and Amazon. Watt shared that the focus of Share Ventures will be on startups in the fields of future work and longevity.
He believes that the current environment, marked by a surge in artificial intelligence and high interest rates, has created an opportunity for a more distinctive venture capital model. To this end, Share Ventures is developing its own software and sophisticated language models to streamline its operations.
Watt explained that this approach allows for smaller fund sizes and earlier identification of investment opportunities with less capital. He emphasized the importance of building companies from the ground up while leveraging advanced technologies.
He noted, “Many venture firms are investing in these new technologies, but they’re not fully integrating and utilizing them in their processes.”
Watt’s personal motivation to focus on health and longevity stems from the loss of his mother at the age of 25, when she was only 49. This experience has profoundly impacted his perspective on mortality.
Reflecting on his past experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” he stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”