The GP
Chris Kong
My background runs from Wall Street to founder to product to venture. What that path produced is a specific lens: I think about companies the way a capital allocator thinks about industrial systems. Not just whether the technology works, but whether the system around it can absorb it.
That lens came from years of following industries through capital cycles. Watching where money moved, where it stalled, and why. In software, the feedback loops are fast. In physical systems, they are not. Capital that does not understand that difference tends to arrive too late, price risk incorrectly, or exit before the compounding begins.
PaperJet is built around the gap between capital timing and industrial timelines. We enter before risk is reduced, then compress the time to validation by working the system around the company. Government contracts, strategic partners, early industrial customers, milestone sequencing. That is the translation work most funds do not do.
As a solo GP, the risk concentration sits entirely on me. I back overlooked founders before validation exists. That means relying on conviction before the market agrees. That is the bet PaperJet is making.
Advisor
Ellen Chang
Defense and Industrial Strategy Advisor
Ellen is a mission-focused deep tech investor with a particular focus on the maritime and space domains. She is Managing Director at CapZone Impact Investments and Senior Advisor to BMNT, a defense innovation consultancy that works with the DoD.
Ellen started her career as a Navy intelligence officer, then moved to JP Morgan where she worked with the aerospace team. She founded a startup in the aviation industry, was recalled to the Navy for Desert Storm II, then spent 12 years at Northrop Grumman leading autonomous systems programs including Global Hawk and unmanned carrier-based aerial systems. She holds an MBA from Wharton and an MS in systems engineering from the Naval Postgraduate School.
From founders
"Chris was the fourth person to invest in H3X and has consistently been one of the most helpful angels on our cap table. He is always willing to help and knows how to identify strong teams and pick winners. It has been a pleasure to work with him for the last couple of years."
"The investor you want on your cap table. Chris is incredibly supportive commercially, operationally, and on follow-on investment. His network becomes your network, and he is there when you need advice or support."