The Fund Team
Focus Areas

Smart
Manufacturing

Robotics

Industrial
AI

Energy
Efficiency

CAPEX
Global investments in industrial automation and energy efficiency will more than double by 2030, from ~$1.0Tn p.a. to ~$2.2Tn.
Manufacturing, Energy, and Labor are Ripe for Disruption
INNOVATION
Innovative startups are developing disruptive technologies to address these dynamics and support unprecedented capex investments.
THE CHALLENGE
Startups lack the engineering expertise and capabilities needed to transform breakthrough tech into profitable, enduring businesses.

Matthew Chang
General Partner
Matthew Chang, PE, is a visionary leader and accomplished engineer with over 20 years of experience in advanced manufacturing and engineering licenses in the US and China. Matthew founded the engineering company Chang Industrial in 2017 with a focus on helping companies solve their workforce issues with advanced technology.
Matthew has led engineering projects across 20 different disciplines in numerous countries, including designing the first autonomous mass transit system for a municipality. Under Matthew's leadership, Chang Industrial has become known as one of the best firms globally for autonomous robotics and cobotics, which is highlighted in his 2023 TEDx Jacksonville Talk: In the future your coworker will be a robot. He was also selected by Fast Company as the 2025 innovator to watch in engineering and AI.
Matthew serves on the board of Lifework Leadership and Jacksonville University, and as Chairman of the Board of Kodiak Technologies, an electric vehicle startup.In dedication to community service, Matthew founded the Jacksonville Venture Competition in 2023 to catalyze a start-up ecosystem in Jacksonville. In 2024, Matthew led the organization of Jacksonville’s innovation hub along with university partners and several local companies and civic organizations.
Matthew holds an MBA from Jacksonville University and a BS in Civil Engineering from the Georgia Institute of Technology.
Where innovation and vision meet disruptive technologies, solving real-world problems

Don Capener
Fund Administrator
Dr. Don Capener is a former business school Dean and current strategy consultant with over 40 years of experience in business education and practice, bridging academia and industry. He co-founded Chang Robotic's IP Studio and manages pilot projects for the organization. Dr. Capener's extensive background includes co-founding successful ventures Above the Rim (acquired by Reebok) and the Capener Company, along with serving as Vice President-Marketing at Netcentives (IPO on Nasdaq). He has also served as Dean of the business schools at Marshall University, Jacksonville University, and Utah Valley University. Dr. Capener holds a Ph.D. in International Management & Entrepreneurship from The International School of Management (ISM), an MBA from Thunderbird School of Global Management, and a BS in Political Science & Economics from BYU.

Forrest Hayes
Fund Director
Forrest Hayes is a seasoned executive with nearly three decades of expertise in asset management, banking, and financial markets. Forrest is the Vice President of Client Success at Fund Launch, where he plays a pivotal role in empowering aspiring fund managers to successfully launch and scale their funds. His deep knowledge of the financial landscape, combined with his strategic insights, enables him to guide members through the complexities of fund creation, capital raising, and operational excellence. Before joining Fund Launch, Forrest held senior leadership positions at Standard Chartered Bank. As Managing Director of Financial Institutions in New York, he led the North American Banks and Broker Dealers segment, driving $360M+ in annual revenue and established strategic relationships with top-tier institutions like State Street, Northern Trust, BBH and JPMorgan. In his COO role based in Singapore, Forrest helped manage the global Financial Institutions division, generating over $2.5B annually across Asia, Africa and Middle East. Forrest’s asset management acumen was further honed at Janus Capital Group, where he successfully managed institutional and intermediary client relationships across Asia Pacific, including clients such as GIC in Singapore and NSSF in China, driving robust sales growth and overseeing diverse investment strategies. His early career experiences at BISYS Fund Services and Key Bank provided him with a strong foundation in fund administration, client relations, and structured finance. Forrest holds an MBA from the National University of Singapore and UCLA Anderson School of Business, along with SEC Series 24, 63 & 79 licenses and a CPA designation (inactive).
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Robert Sterling
Chief Financial Officer
Robert Sterling is a corporate-finance leader, investor, and advisor. He has served as CFO for multiple seed, series A, and series B start-ups, and as a consultant, he has advised more than 60 companies on strategy and capital markets in industries as diverse as manufacturing, commodities, agriculture, energy, SaaS, fintech, consumer products, and real-estate development. Robert began his career in finance with Koch Industries and Cargill, America’s two largest private companies, where he led and supported more than $10B in completed M&A transactions, capital projects, divestitures, and capital raises. Robert holds an MBA from Pepperdine University and a BA in Mathematics from the University of Washington.

Phil Hudgens
Fund Controller
Phil Hudgens has over 15 years of experience as a venture capital investor, start-up finance executive, and investment banker working across the US, Europe, SE Asia, and Africa. He has worked as an advisor, coach, and fractional CFO to numerous startups and emerging fund managers, and he previously served as Head of Finance for rescue.co, a venture-backed healthcare technology startup developing EMS systems and infrastructure in emerging markets. Phil also co-founded a venture capital fund investing in early-stage healthcare companies operating across Africa. Prior to that, Phil was a Director of Structured Finance at Charter School Growth Fund, where he managed a $160m portfolio of debt funds investing in the US education sector. Phil started his career as an investment banking credit analyst where he covered investor clients such as private equity funds, hedge funds, and real money funds at Standard Chartered Bank and financial institution and insurance clients at Credit Suisse. Phil holds an MBA from IMD in Lausanne, Switzerland, and a BS in Business Administration from the University of North Carolina at Chapel Hill.