Conversion Capital
Venture capitalActively deployingSan Francisco · Pre-Seed–Late Stage · 10 people tracked
Also known as CONVERSION CAPITAL, LLC
Investment thesis
Conversion Capital backs category-defining companies in software, AI/ML, and cloud technology, investing since 2015. The firm emphasizes partnering with founders from the earliest stage ('day zero') and providing hands-on support with its full resources. It also runs Conversion Labs, a fellowship program inviting innovators, builders, and scientists across ages and backgrounds to collaborate, work on projects, and attend events aimed at advancing science and technology.
Source: firm website, verified Aug 11, 2026.
Team · 10 people
from the firm's website & public directories
What they invest in
from 32 of 54 portfolio companiesAI & Machine Learning ×20SaaS ×14Fintech ×12Enterprise Software ×8Data & Infrastructure ×7Cloud Computing ×4Deep Tech ×4Developer Tools ×4
HQs:United States×19United Kingdom×1
Investments · 54 tracked
founders shown can be your intro pathBy year:2025 · 12021 · 22017 · 12016 · 12015 · 16 dated
FiscalNote provides AI-powered software that aggregates and interprets legislative and regulatory data to help organizations track and influence policy outcomes.
AI & Machine LearningData & InfrastructureGovTechSaaSWashington, US
Tim Hwang(Co-founder)Gerald Yao(Co-founder)Jonathan Chen(Co-founder)Paul Donnell(Chief Accounting Officer)Jon Slabaugh(CFO and Senior VP of Corporate Development)Richard Henderson(Executive Officer)
Burlingame, US
Board seatChristian Lawless· per SEC Form D · $56M raise · filed May 2019
Nashville, US
Peter Martin(Director)Brett Danahy(Director)Dan Dalton(Director)Craig Bernard(Director)
Board seatAdam Yarnold· per SEC Form D · $2.8M raise · filed Aug 2021
Newark, US
Jonathan Chao(Executive Officer)Aditya Acharya(Director)Nipun Kant(Executive Officer, Director)
Board seatChristian Lawless· per SEC Form D · $5.5M raise · filed May 2021
Immuta provides data access and governance solutions that enable safe, instant provisioning of data at scale for humans and AI systems.
Data & InfrastructureEnterprise SoftwareAnnapolis, US
Sapan Shah(Director)Steven Touw(Director)Matthew Carroll(Executive Officer, Director)inMichael Schiller(Executive Officer, Director)
Board seatChristian Lawless· per SEC Form D
Applied Compute builds proprietary AI agents trained on enterprise-specific workflows and data that continuously improve through real-world usage.
AI & Machine LearningCloud ComputingDeep TechEnterprise Software
Yash Patil(CEO)
Astral is an AI-powered K–8 math curriculum that generates personalized daily lessons, practice, placement assessments, and mastery tracking for each child, with an AI tutor, explanatory videos, and faith/values alignment.
AI & Machine LearningEdTechSaaS
Basis Theory provides a payment vault platform that tokenizes and routes payment data across payment service providers while maintaining PCI compliance.
Developer ToolsEnterprise SoftwareFintech
Amplify builds cloud-based infrastructure for life insurance distribution, connecting consumers, agents, and carriers through a unified platform.
FintechInsurTechSaaS
Jumio provides AI-powered identity verification, biometric authentication, and AML screening built on an identity graph of over 30 million identities to detect fraud and support compliance.
AI & Machine LearningCybersecurityFintech
Boost provides API-based insurance infrastructure that packages compliance, capital, and technology, including MGA infrastructure on rated carrier paper, a policy admin system, data dashboards, and reinsurance capacity.
FintechInsurTechSaaS
Cargado operates a digital marketplace connecting freight brokers and carriers for cross-border freight movements between Mexico, Canada, and the United States.
B2B MarketplacesLogistics & Supply ChainSaaSChicago, US
Matt Silver(Co-founder)Rylan Hawkins(Co-founder)Matthew Silver(Executive Officer, Director)
BoardBrad Svrluga(Director)
Cognition develops Devin, an autonomous AI software engineer agent that plans, writes, tests, and deploys production code within existing development environments to augment human engineering teams.
AI & Machine LearningDeveloper ToolsEnterprise Software
Scott Wu(Founder)Walden Yan(Founder)Steven Hao(Founder)in
College Pulse operates a platform for collecting and sharing student opinion data across college campuses.
Data & InfrastructureEnterprise SoftwareMarketing TechSaaSSocialSan Francisco, US
Terren Klein(Founder/CEO)in
Dataminr provides AI-powered real-time event detection by synthesizing text, images, video, audio, and sensor signals across public data sources.
AI & Machine LearningCybersecurityData & InfrastructureEnterprise SoftwareGovTechImpact & Social GoodNew York, US
Peter Bailey(Executive Officer)Edward Bailey(Executive Officer, Director)Daniel O'Connor(Executive Officer)Nella Domenici(Executive Officer)Jeffrey Kinsey(Executive Officer)Stephen Dow(Director)
Etched designs and manufactures AI inference chips and rack-scale systems optimized for frontier models, using co-designed hardware, software, and manufacturing processes to deliver best-in-class throughput, latency, and power efficiency.
AI & Machine LearningDeep TechSemiconductorsSan Jose, US
Gavin Uberti(Co-Founder & CEO)Robert Wachen(Co-Founder & President)Chris Zhu(Co-Founder)
Even Financial operates a financial marketplace network that matches consumers with financial products through precision targeting and personalization.
B2B MarketplacesFintechMarketing TechBrooklyn, US
Phill Rosen(Founder & CEO)Ian Rosen(Executive Officer, Director)Jarid Maged(Executive Officer, Director)
BoardBrendan Dickinson(Director)
Figure is a lending platform that offers residential and commercial loan products including home equity lines of credit, cash-out refinances, DSCR loans, and crypto-backed loans for borrowers.
AI & Machine LearningCrypto & Web3FintechCharlotte, US
Mike Cagney(Co-Founder, Executive Chairman)inJune Ou(Co-Founder, Advisor, Board Member)inJin Woo Park(Executive Officer, Director)
Groq designs and manufactures the LPU (Language Processing Unit), a chip purpose-built for AI inference, and operates GroqCloud, a platform for running inference workloads with low latency and cost efficiency across global data centers.
AI & Machine LearningCloud ComputingSemiconductors
Jonathan Ross(Founder & CEO)in
Haven is a digital platform that simplifies home financing and mortgage management for homeowners by connecting them with mortgage companies.
FintechMarketplacesPropTechSaaSNew York City, US
Aditya Acharya(Founder)inNipun Kant(Founder)in
Improbable is a venture builder and technology company that creates and scales ventures in AI, Web3, and the metaverse, drawing on over a decade of experience in large-scale multiplayer technology and virtual worlds.
AI & Machine LearningCrypto & Web3Deep TechCambridge, GB
Herman Narula(Founder)Rob Whitehead(Co-founder)Aaron Alexander Neale(Executive Officer)Patrick Andrew Timoney(Executive Officer)Samuel Mark Kalnins(Executive Officer)Peter Richard Lipka(Executive Officer)
Particle Health provides secure healthcare data access and interoperability services, enabling analysis and actionable insights across healthcare platforms.
AI & Machine LearningData & InfrastructureDigital HealthHealthtechBrooklyn, US
Greene Taylor(Director)Dan Horbatt(Executive Officer, Director)Troy Bannister(Executive Officer, Director, Promoter)
Payable was a company founded by Daniel Yubi that was acquired by Stripe; the domain now hosts his personal newsletter.
Daniel Yubi(Founder)
San Francisco, US
June Ou(Interim Director)Eric Malchodi(Interim Director)Michael Cagney(Interim Executive Director)
Qualia provides digital transaction software to streamline the residential home buying and selling process, replacing paper-based procedures with modern technology for real estate agents, lenders, title and escrow professionals, and consumers across all 50 U.S. states.
Cloud ComputingEnterprise SoftwarePropTechSaaSSan Francisco, US
Nathan Baker(Executive Officer, Director, Promoter)
BoardAlex Kolicich(Director)Tyler Sosin(Director)
Science Corporation develops brain-computer interface and neural engineering technology to restore vision, cognition, and mobility to patients with debilitating conditions.
AI & Machine LearningBiotechDeep TechDigital HealthMedical DevicesAlameda, US
Max Hodak(Chief Executive Officer)
Spherical Defense provides an API security product that uses unsupervised deep learning to build a positive security model of application traffic, offering an alternative to web application firewalls and rule-based tools.
AI & Machine LearningCybersecuritySaaS
Wisetack provides point-of-sale financing solutions that connect merchants with lending partners to offer customers flexible payment plans ranging from 0% to 35.9% APR.
FintechSan Francisco, US
Boyan Tzekin(Executive Officer, Director)Elisabeth O?Donnell(Director)
BoardVianney Barre(Director)Josh McFarland(Director)
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Exits · 2
IPOs and acquisitions across the tracked portfolioBlendNYSE: BLNDFiscal NoteOTC: NOTE
Portfolio news
latest coverage across their companiesEtched · techcrunch.com · Jul 23, 2026
Immuta · immuta.com · Jul 16, 2026
Figure · startbase.com · Jul 16, 2026
Haven · aol.com · Jul 6, 2026
Fiscal Note · ad-hoc-news.de · Jul 6, 2026
Cognition AI · pulse2.com · Jun 27, 2026
Baselane · retipster.com · Jun 25, 2026
Qualia · housingwire.com · Jun 25, 2026
Frequently asked questions
- What stage does Conversion Capital invest at?
- Conversion Capital invests at the Pre-Seed, Seed, Series A, Growth, Late Stage stages.
- What is Conversion Capital's typical check size?
- Conversion Capital typically writes checks of $500K – $5M.
- What sectors does Conversion Capital focus on?
- Conversion Capital focuses on Advanced Manufacturing, AI & Machine Learning, Cloud Computing, Consumer, Data & Infrastructure, Defense Tech, Enterprise Software, Fintech, Healthtech, Logistics & Supply Chain, Retail Tech, SaaS.
- Where is Conversion Capital located?
- Conversion Capital is headquartered in San Francisco, US.
- Does Conversion Capital lead rounds?
- Conversion Capital typically participates in rounds rather than leading them.
Images
Co-investors · 51
Greylock Partners is a venture capital firm that backs founders at the earliest stages, often as their first investor before a product exists.
Madrona Venture Group is an early-stage venture capital firm that backs founding teams at seed, early, and acceleration stages, primarily in Seattle, the Bay Area, and beyond.
Ulu Ventures is a seed-stage venture capital firm focused on finding and funding early-stage founder teams, emphasizing diversity and data-driven investment decisions.
Andreessen Horowitz's Strategic Partnerships page describes collaborations that connect its portfolio companies with established institutions to help scale and deploy their technology.
Sequoia Capital is a venture capital firm that partners with founders to build technology companies, with a strong current focus on artificial intelligence.
Founders Fund is a venture capital firm that invests in companies building transformative technologies across defense, space, data analytics, and other frontier sectors.
Index Ventures is a venture capital firm that backs founders across the globe, investing in the people behind ideas from early through later stages.
Abstract is a San Francisco-based venture capital firm managing $1.8 billion in assets, investing in seed and early-stage companies across all sectors.
Ballistic Ventures is a venture capital firm focused exclusively on backing cybersecurity entrepreneurs, drawing on the operating experience of investors who have founded, funded, and operated over 90 companies.
Haymaker Ventures is an early-stage investor focused exclusively on fintech companies building superior solutions to unsolved problems.
Lightspeed Venture Partners is a global venture capital firm known for backing AI and technology founders, emphasizing deep, hands-on partnerships with the companies it funds.
SV Angel is an investment firm that partners with and supports founders building transformative companies, providing long-term backing and close advisory relationships.
▶39 more co-investors
Spark CapitalFifth WallEmergence Capital PartnersKindred VenturesVillage GlobalPoint72 VenturesRavelin CapitalLong Journey VenturesDST GlobalRRE VenturesHCVCAME Cloud VenturesLookout VenturesStellar CapitalQED InvestorsMaveronParadigmGustoKearny JacksonShaan All AccessAmadeus Capital PartnersMulticoin CapitalChicago VenturesSAV (Scale Asia Ventures)Scout VenturesWormhole CapitalRoot Ventures Manager, LlcIndicator VenturesSyngenta Group VenturesCambrian VenturesStanford UniversityChampion Hill VenturesPTC PolymarketBCF VenturesPronomos CapitalMerian VenturesEMERGENT VENTURESFlight VenturesPrinceville Capital
Firms observed investing alongside Conversion Capital, from public investor directories. Shared companies are the overlap with Conversion Capital's recorded portfolio.
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