Initialized Capital
Venture capitalActively deployingSan Francisco · Pre-Seed–Seed · 24 people tracked
Also known as INITIALIZED CAPITAL MANAGEMENT, LLC
Investment thesis
Initialized Capital focuses on seed-stage founders characterized by grit, audacity, and a rebellious spirit. The firm invests across a broad set of sectors including enterprise SaaS, sustainability, health, hard tech, artificial intelligence, infrastructure, consumer, and crypto. It positions itself as a long-term partner, guiding founders from 0 to 1 and continuing to advise them throughout the life of their companies. The team is intentionally diverse, drawing on backgrounds as founders, builders, engineers, designers, and journalists to support portfolio companies as they build and navigate the venture landscape.
Source: firm website, verified Aug 3, 2026.
Team · 24 people
from the firm's website & curated & public directories
What they invest in
from 68 of 70 portfolio companiesSaaS ×36Enterprise Software ×32AI & Machine Learning ×31Developer Tools ×12Fintech ×10Advanced Manufacturing ×8Consumer ×7Healthtech ×7
HQs:United States×59United Kingdom×3Canada×1Sweden×1
Investments · 70 tracked
founders shown can be your intro path
Kayhan Space develops technology to improve the safety of spaceflight operations.
AI & Machine LearningDeep TechSaaSSpace TechLafayette, US
Siamak Hesar(Founder)inAraz Feyzi(Founder)inKane Hsieh(Director)
Mable is a genomics-based telehealth platform that provides personalized migraine care by analyzing patients' genetic and biomarker data to inform individualized treatment plans.
AI & Machine LearningBiotechDigital HealthHealthtechMedical DevicesLondon, GB
Roman Rothaermel(Founder)inInna Thalmann(Founder)inChris EijsboutsKumeren Govnder
MixerBox develops a suite of daily-essential mobile applications including alarm, news, AI browser, payment, streaming, and meditation features, serving general consumers seeking integrated digital tools for daily tasks.
AI & Machine LearningB2B MarketplacesConsumerCreator EconomySaaSLos Angeles, US
John Lai(Founder/CEO)in
OutRival is a no-code AI platform that enables non-technical customer experience teams to create and deploy AI solutions including chatbots, voice agents, and workflow automation for customer interactions.
AI & Machine LearningEnterprise SoftwareInsurTechSaaSMiami, US
Alix provides a complete estate settlement service that handles the 100+ administrative, legal, and financial responsibilities executors face when settling an estate.
FintechLegalTechSaaSSan Francisco, US
Scott Quist(Director)Shital Ashok Mehta(Executive Officer, Director)Lauren Kolodny(Director)Andrew Sather(Director)Hugh Tamassia(President)Alexandra Mysoor(Founder & CEO)
Board seatAndrew Sather· per SEC Form D · $30.7M raise · filed Jul 2025
Sygaldry develops quantum-accelerated AI servers that combine multiple qubit modalities to speed up training and inference for AI models.
Advanced ManufacturingAI & Machine LearningHardwareQuantum ComputingAnn Arbor, US
Chad Rigetti(Founder)inIdalia Friedson(Founder)inMichael Keiser(Director)
BoardChristian Garcia(Director)
Board seatAndrew Sather· per SEC Form D
10x Science provides an AI platform that automates protein characterization for drug developers, reducing months of manual analysis to speed the evaluation of therapeutic candidates in early-stage development.
AI & Machine LearningBiotechEnterprise SoftwareSaaSSan Francisco, US
David Roberts(Founder and CEO)inAndrew Reiter(Founder and COO)inVishnu Tejus(Founder and CTO)in
Frisco, US
James Alexander Boyd(Executive Officer, Director)Morgan Hitzig(Director)Joshua James Wilson(Executive Officer, Director)
Albedo develops a flight-proven platform for Very Low Earth Orbit operations, providing satellite-based insights and connectivity services for national security and critical infrastructure systems.
Advanced ManufacturingClimate TechDeep TechDefense TechSpace TechDenver, US
Topher Haddad(Founder)inAyJay Lasater(Founder)inWinston Tri(Executive Officer, Promoter)Dylan Betts(Executive Officer)
BoardChristian Garcia(Director)Raj Shah(Director)
Bannerman provides a platform that connects clients with vetted security providers and guards, offering transparency and management of security services through a dashboard interface.
B2B MarketplacesEnterprise SoftwareSaaSSan Francisco, US
Johnny Chin(Founder/CEO)inAntoine de Chevigné(Founder/CTO)in
Coinbase Developer Platform provides cryptocurrency infrastructure including payments, wallet management, and on-chain development tools for businesses of any size to build and scale crypto-based applications.
Crypto & Web3Developer ToolsFintechSaaSSan Francisco, US
Nicholas Chirls(Director)Aaron Henshaw(Director)Joseph Lallouz(Executive Officer, Director)
Bristle provides digital tools and insights to help people assess and improve their oral health, positioning dental care as a preventive step toward overall wellness.
Digital HealthHealthtechWellness & FitnessSan Francisco, US
David Lin(Founder)inBrian Maurer(Founder)inShivam Patel(Founder)in
Buttercoin operates an open-source trading engine that matches buy and sell orders for digital assets on an order book.
FintechMarketplacesNew York City, US
Bennett Hoffman(Founder)in
Caliza provides cross-border payment infrastructure and multi-currency account management for businesses operating globally, enabling instant transfers, payouts, and compliant financial operations across North America, Asia, South America, Europe, and Africa.
Enterprise SoftwareFintech<UNKNOWN>
Cogram builds AI-powered software tools for architects and engineers to automate documentation, reporting, and information retrieval from construction and architectural projects.
AI & Machine LearningConstruction TechEnterprise SoftwareFuture of WorkSaaSNew York City, US
Alexander von Boetticher(Founder)inRicardo Wölker(Founder)in
CoinTracker is a cryptocurrency tax software platform that automatically imports transactions from wallets and exchanges to calculate gains, losses, and generate IRS-ready tax reports for US investors.
Crypto & Web3FintechSaaSSan Francisco, US
Jon Lerner(Founder)in
Depict builds a merchandising platform for brand-led e-commerce that enables brands to curate and control product discovery experiences online using AI, similar to the control they have in physical retail stores.
AI & Machine LearningE-commerceEnterprise SoftwareMarketing TechSaaSStockholm, SE
Oliver Edholm(Founder)in
Eclipse Foods makes plant-based ice cream designed to replicate the taste and texture of dairy ice cream using plant-derived ingredients.
Climate TechConsumerFoodTechSan Francisco, US
Aylon Steinhart(Founder)inThomas Elliott Bowman(Founder)inKoichiro Nakamura(Director)Eurie Kim(Director)
Enhanced Radar develops aviation-grade AI training datasets for pilot-controller communications, with end-to-end quality control from data collection through labeling.
Advanced ManufacturingAI & Machine LearningDeep TechSpace TechSan Francisco, US
Formic develops automation and robotics solutions for factories to increase production capacity and reliability while reducing costs, downtime, and safety risks.
Advanced ManufacturingAI & Machine LearningRoboticsChicago, US
Saman Farid(Founder & CEO)Garry Tan(Director)
Glass Health provides an AI platform that assists clinicians in generating diagnostic hypotheses and developing treatment plans.
AI & Machine LearningHealthtechSaaSSan Francisco, US
Dereck Paul(Founder/CEO)inWilliam Hart(Founder/CTO)inBrett Plotzker(Executive Officer, Director)Jeremy Bluvol(Executive Officer)Hari Sundram(Director)Jeffrey Parkinson(Director)
Gobble is a meal kit delivery service that provides pre-prepped ingredients and recipes designed for home cooks to prepare fresh dinners in 15 minutes.
ConsumerFoodTechSan Francisco, US
Ooshma Garg(Founder/CEO)in
BoardAjay Chopra(Director)
PartnerGarry Tan· quoted
Greptile provides AI agents that review and test pull requests by constructing a graph index of the codebase and using a swarm of agents to detect code quality issues, security risks, and logical bugs across multiple files.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSan Francisco, US
Daksh Gupta(Founder)inSoohoon Choi(Founder)inVaishant Kameswaran(Founder)in
Guide Labs is a product-focused research company developing interpretable AI systems that humans and domain experts can understand, steer, and debug.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSan Francisco, US
Julius Adebayo(Founder)inFulton Wang(Executive Officer, Director, Promoter)
Heap provides analytics and data collection tools for growth marketers to optimize digital experiences, track user acquisition channels, measure engagement, and personalize messaging across the conversion funnel.
Data & InfrastructureEnterprise SoftwareMarketing TechSaaSSeattle, US
Matin Movassate(Founder/CEO)inChetan Puttagunta(Director)Ravi Parikh(Director)
Jupe designs and manufactures off-grid dwellings for landowners seeking to activate their properties through hospitality or residential use.
Advanced ManufacturingCleantechClimate TechConstruction TechHardwarePropTechSan Francisco, US
Jeff Wilson aka Professor Dumpster(Founder)inAntonio Gonzalez(Founder)inJon Leonardo(CEO)
LANDED is a mobile job matching platform that connects hourly workers in food service, hospitality, and warehouse operations with employers seeking to fill positions quickly.
AI & Machine LearningB2B MarketplacesEnterprise SoftwareHR TechMarketplacesSaaSNew York City, US
Vivian Wang(Founder)in
Lingo.dev provides translation APIs that teams configure with custom glossaries, brand guidelines, language preferences, and quality metrics, retaining context across requests to handle localization at scale for companies like Mistral and Solana.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSan Francisco, US
Max Prilutskiy(Co-Founder & CEO)inVeronica Prilutskaya(Founder)in
Open Listings provided a homebuying platform that helped residential buyers purchase properties while reducing their real estate commission costs.
MarketplacesPropTechLos Angeles, US
Judd Schoenholtz(Founder/CEO)inPeter Sugihara(Founder/CPO)inJohn Alexander Farrill(Executive Officer, Director)Ilya Sukar(Director)
Orbital Ops develops propulsion systems and related aerospace hardware for airborne vehicles.
Advanced ManufacturingDeep TechDefense TechHardwareSpace TechLos Angeles, US
Ben Schleuniger(Founder)inRoss Doherty(Co-Founder & COO)inHunter
Gradient Health builds an open research platform for medical imaging that enables developers to create and validate machine learning algorithms for radiology workflows.
AI & Machine LearningCloud ComputingDeveloper ToolsDigital HealthEnterprise SoftwareMedical DevicesNew York City, US
Dillon Erb(Founder/CEO)inDaniel Kobran(Founder)inOuwen Huang(CEO)
Picogrid provides software and edge computing networks to integrate heterogeneous sensors, drones, and autonomous systems for real-time command and control across defense and wildfire detection applications.
AI & Machine LearningDefense TechGovTechIoTRobotics<UNKNOWN>, US
Zane Mountcastle(Executive Officer, Director, Promoter)Martin Slosarik(Executive Officer, Director, Promoter)
BoardDavid Cowan(Director)
RankScience is a local SEO agency that helps San Francisco Bay Area businesses improve their visibility in search results through Google Business Profile optimization, citation building, content creation, and review management.
AI & Machine LearningEnterprise SoftwareMarketing TechSaaSSan Francisco, US
Ryan Bednar(Founder/CEO)in
Rescale provides cloud-based engineering and R&D platform with simulation, modeling, and digital engineering tools for enterprise engineering teams across multiple industries.
AI & Machine LearningCloud ComputingDeep TechDeveloper ToolsEnterprise SoftwareSan Francisco, US
Joris Poort(Founder/CEO)inAdam McKenzie(Founder/CTO)inToshiya Otani(Director)
BoardYanev Suissa(Director)
Satsuma enables ecommerce merchants to connect their product catalogs and checkout systems to AI agents like ChatGPT, Google Gemini, and Claude through Model Context Protocol (MCP) servers.
AI & Machine LearningE-commerceSaaS
Sendwave provides international money transfer services designed to simplify remittances through digital channels with low fees and fast transfers, serving customers who want to send money across borders without visiting physical locations.
B2B MarketplacesFintechBoston, US
Drew Durbin(Founder/CEO)in
Seneca Systems builds software for government agencies that consolidates constituent communications, tracks service requests, and tracks constituent feedback.
GovTechSan Francisco, US
Nick DeMonner(Founder/CEO)inChris Maddox(President, Chief Executive Officer, and Director)
San Francisco, US
Garry Tan(Director)Devdutt Yellurkar(Director)John Novak(Director)Jordan Fisher(Executive Officer, Director)Anthony Lutz, Jr.(Executive Officer)Michael Suswal(Executive Officer, Director)
PartnerGarry Tan· led
Advanced ManufacturingSacramento, US
Noah Farb(Executive Officer)Benjamin Burack(Executive Officer)
PartnerGarry Tan· led
Stellar Sleep develops a digital solution for sleep management, founded by former insomniacs in collaboration with sleep experts.
Digital HealthHealthtechWellness & FitnessBoston, US
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.
Frequently asked questions
- What stage does Initialized Capital invest at?
- Initialized Capital invests at the Pre-Seed, Seed stages.
- What is Initialized Capital's typical check size?
- Initialized Capital typically writes checks of $1M – $5M.
- What sectors does Initialized Capital focus on?
- Initialized Capital focuses on AI & Machine Learning, Climate Tech, Consumer, Crypto & Web3, Deep Tech, Enterprise Software, Healthtech, New Materials, SaaS, Sector Agnostic.
- Where is Initialized Capital located?
- Initialized Capital is headquartered in San Francisco, US.
- Does Initialized Capital lead rounds?
- Yes, Initialized Capital leads investment rounds.
Media · Podcasts & interviews
featuring the teamThe New Physics of Business — Garry Tan, Y Combinator
AI Engineer · Garry Tan
Founder Mode: Garry Tan, President & CEO, Y Combinator
The Social Radars Podcast · Garry Tan
Running Y Combinator Like a Founder | Garry Tan | Ep. 7
Uncapped with Jack Altman · Garry Tan
Y Combinator CEO Garry Tan on the outlook for Silicon Valley startups
CNBC Television · Garry Tan
Garry Tan, President and CEO of Y Combinator
The Economic Club of Washington, D.C. · Garry Tan
Y Combinator CEO: The Key To Writing For Startups & Entrepreneurs | Garry Tan | How I Write Podcast
David Perell · Garry Tan
Co-investors · 105
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Breakthrough Energy is a global platform founded to accelerate clean energy innovation and build climate-focused industries, supporting innovators developing affordable, reliable, clean energy technologies.
Founders Fund is a venture capital firm that invests in companies building transformative technologies across defense, space, data analytics, and other frontier sectors.
Insight Partners is a venture and growth-stage software investor featuring a large portfolio of technology companies across multiple sectors and regions.
Kleiner Perkins is a venture capital firm that backs founders across technology and life sciences, with a portfolio of companies from early stage through growth.
▶93 more co-investors
Menlo VenturesSlow VenturesLux CapitalKapor CapitalIntel CapitalNorthzoneGiant Ventures Global LlpJetstreamCerity Partners VenturesCongruent VenturesShield CapitalMagnify VenturesCubit CapitalSequoia CapitalGV (Google Ventures)Index VenturesLong Journey VenturesFounder CollectiveNotable CapitalBenchmarkBain Capital VenturesUberEverywhere VenturesNorwest Venture PartnersLookout VenturesStride VCUlu VenturesBuckley Ventures Management Company LlcLerer HippeauThrive CapitalBAM VenturesTq Ventures LlcWinklevoss CapitalDell Technologies CapitalFuel Venture CapitalGeneral Atlantic7percent VenturesInspired CapitalHigh Alpha2xNGalaxy Digital Assets FundHighland Capital PartnersEarl Grey CapitalVitalStage VenturesHelium-3 VenturesSweet CapitalSolana VenturesImmeasurableMantis CapitalStealth CapitalTrucks VC1984 Ventures Management, LlcParadox CapitalRoot Ventures Manager, LlcAmbush CapitalTrust FundArchetypeBBG VenturesJAZZ Venture PartnersFoundamentalGeek VenturesCoalition OperatorsPIPELINE CAPITAL PARTNERSArriveVista Venture PartnersGrotech VenturesMaven VenturesStellation CapitalAirTree VenturesAlpha EdisonGemini Israel VenturesAvalanche VCDivergent CapitalSandbox IndustriesOCA Ventures7GC & CoImaginary Venture CapitalEVE AtlasArbor VenturesCastle Island VenturesBlack Jays VenturesCollab CapitalConnectivity VenturesConteur Capital PartnersImpellent VenturesTrammell Venture Partners (TVP)Volition CapitalDarkmode VenturesUnshackled VenturesClayton Dubilier & Ricemark vcFour Acres CapitalShareBear Ventures LP
Firms observed investing alongside Initialized Capital, from public investor directories. Shared companies are the overlap with Initialized Capital's recorded portfolio.
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