Initialized Capital
Venture capitalActively deployingSan Francisco · Pre-Seed–Seed · 25 people tracked
Also known as INITIALIZED CAPITAL MANAGEMENT, LLC
Investment thesis
Initialized focuses intensely on seed-stage investing, backing founders before their success looks inevitable to other investors. The firm looks for products that are 10x better, faster, or cheaper, large markets, and founder-builders who are experts and obsessive about their space. It emphasizes broadening the demographic of founders and ideas that venture capital traditionally served. Initialized aims to be an early ally rather than a prescriptive investor, promoting 'learning by doing' and offering resources including office hours, a proprietary community portal (the Honeybadger Den), events, content and PR support, recruiting help, and go-to-market guidance. It also prepares companies for their Series A raise with metrics, operating models, deck design, pitch practice, and growth-investor introductions.
Source: firm website, verified Aug 25, 2026.
Team · 25 people
from the firm's website & public directories
Founder mafia
5 people who came through Initialized Capital went on to found or lead other companies.
+ 1 more
What they invest in
from 93 of 97 portfolio companiesSaaS ×43AI & Machine Learning ×42Enterprise Software ×38Developer Tools ×17Fintech ×13Consumer ×10Healthtech ×10Advanced Manufacturing ×9
HQs:United States×76United Kingdom×4Canada×2Sweden×2
Investments · 98 tracked
founders shown can be your intro pathBy year:2026 · 62025 · 82024 · 62023 · 72022 · 22020 · 22019 · 22018 · 32017 · 32015 · 22014 · 243 dated
Datasaur provides AI data infrastructure that enables organizations to deploy AI systems while protecting sensitive data and maintaining privacy.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSan Francisco, US
Co-investorsJ17 CapitalY CombinatorGold House VenturesTenOneTen Ventures
Kayhan Space develops technology to improve the safety of spaceflight operations.
AI & Machine LearningDeep TechSaaSSpace TechLafayette, US
Siamak Hesar(Founder)inAraz Feyzi(Founder)in
BoardKane Hsieh(Director)
Co-investorsRoot VenturesBeyond CapitalOverlineRoot Ventures Manager, LlcTechstarsEVE Atlas+2 more
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
Co-investorsUnderscore VCVenrockY Combinator
Manifold provides tools for creating, selling, and distributing digital goods on the Ethereum blockchain.
B2B MarketplacesCreator EconomyCrypto & Web3
Co-investorsa16z cryptoAndreessen HorowitzSamsung NextTodd and Rahul’s Angel Fund
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
Co-investorsY Combinator408 VenturesBrighter CapitalSLVC
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
Ruben A. Harris(CEO & Co-Founder)inTimur Meyster(Founder)in
Co-investorsY CombinatorBronze InvestmentsNecessary VenturesOpen Opportunity FundChingona Ventures
Palabra.ai provides an AI bot that adds real-time voice translation and captions to Microsoft Teams meetings, supporting 60+ languages with sub-1-second latency.
AI & Machine LearningDeep TechDeveloper ToolsEnterprise SoftwareMedia & EntertainmentSaaS
Co-investorsCreator VenturesD&FG Elements
Repacket builds security software that detects and prevents employee mistakes in real time.
AI & Machine LearningCybersecurityEnterprise SoftwareSaaSVancouver, CA
Noah Stanford(Founder)in
Co-investorsY Combinator468 Capital645 Ventures
Alix provides estate and trust settlement services for families after the death of a loved one, handling the legal, financial, and personal tasks executors face, such as accounting, home sale coordination, bill management, and asset transfers.
ConsumerFintechLegalTechSaaSSan Francisco, US
Alexandra Mysoor(Founder & CEO)inShital Ashok Mehta(Executive Officer, Director)Hugh Tamassia(President)Bill Hawley(COO)Dale Hill(CFO)Tim Myers(CTO)
Board seatAndrew Sather· per SEC Form D · $30.7M raise · filed Jul 2025
Co-investorsAcrew CapitalAmerican Family VenturesCameron VenturesMagnify VenturesScribble Ventures
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)in
BoardChristian Garcia(Director)inMichael Keiser(Director)
Board seatAndrew Sather· per SEC Form D
Co-investorsEarth Venture CapitalExpeditionsGarage CapitalMVP VenturesPage One VenturesQubits Ventures+8 more
10x provides an AI-powered back-office service that automates dental practice operations including hygiene recall outreach, treatment follow-up coordination, and missed-call answering.
AI & Machine LearningHealthtechSaaSSan Francisco, US
Co-investorsY CombinatorCivilization Ventures Management, Llc
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
Co-investorsY CombinatorCivilization Ventures Management, Llc
AdQuick is a platform and managed-service marketplace for out-of-home (OOH) advertising, connecting advertisers to 1.6M+ placements and 3M+ programmatic DOOH screens across 1,700+ media owners in multiple countries.
AdTechMarketing TechMarketplacesAustin, US
Fahim Ferdous(Founder)inConnor Burden(Founder)Brian Schwartz(Director)Matthew O'Connor(Director)Christopher Gadek(Executive Officer)Nina Boost(Executive Officer)
Co-investorsCalm VenturesEarl Grey CapitalEudemian VenturesOperator StackTeam Ignite VenturesTodd and Rahul’s Angel Fund+3 more
Adyton builds mobile and edge software for US defense units, spanning logistics, personnel and tactical operations in disconnected environments.
Frisco, US
James Alexander Boyd(Executive Officer, Director)Joshua James Wilson(Executive Officer, Director)
BoardMorgan Hitzig(Director)in
Co-investorsKindred VenturesAlumni VenturesKhosla VenturesLiquid VenturesPalumni VCVenrock
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)inRaj Shah(Director)in
Co-investorsAngel Collective Opportunity FundBlack FlagBooz Allen VenturesBreakthrough Energy VenturesDnx VenturesJetstream+9 more
Author Health provides mental health and behavioral care for patients covered by Medicare, Medicare-Medicaid dual-eligible plans, and Medicare Advantage/Special Needs Plans, including the GUIDE program.
Digital HealthHealthtechMental Health
Katherine Hobbs, MD MPHin
Co-investorsFlare Capital PartnersGeneral AtlanticOak HC/FT
Automat is an enterprise automation platform that uses AI techniques to automate business workflows.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Lucas Ochoa(Founder)inGautam Bose(Founder)in
Co-investorsFelicis VenturesK5 GlobalY CombinatorKhosla Ventures
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(CEO)inAntoine de Chevigné(Founder/CTO)in
Co-investorsFundersClubY CombinatorSlow Ventures
Beeper is a unified messaging app that consolidates popular messaging services into a single cross-platform interface.
ConsumerSaaSSan Francisco, US
Eric Migicovsky(Founder)inBrad Murray(Founder)in
Co-investorsY CombinatorSV Angel
Berbix provides identity verification and fraud detection technology that online platforms integrate via SDKs to confirm users' identities and prevent fraudulent accounts.
Developer ToolsEnterprise SoftwareSaaSSan Francisco, US
Eric Levine(Founder)inSteve Kirkham(Founder)in
Co-investorsDream MachineFikaY CombinatorFika VenturesMayfield FundTwenty Two Ventures
Crypto & Web3Developer ToolsFintechSaaSSan Francisco, US
Aaron Henshaw(Director)Joseph Lallouz(Executive Officer, Director)
BoardNicholas Chirls(Director)in
Co-investorsA.Capital VenturesCollab+CurrencyConsenSys MeshHomebrewKleiner PerkinsAccomplice+2 more
BloomThat offers same-day and next-day flower delivery through a mobile app and website, serving customers in major U.S. cities and nationwide.
ConsumerSan Francisco, US
Matthew Schwab(Founder/President)inDavid Bladow(Founder)inChad Powell(Founder/Product + Technology)in
Co-investorsFundersClubY CombinatorFirst Round CapitalForerunner VenturesRainfall VenturesRothenberg Ventures+1 more
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
Co-investorsR/GA VenturesY CombinatorAxial VC
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
Co-investorsY CombinatorFloodgate
Caliza provides global payment and USD account infrastructure for businesses that need cross-border financial services.
Fintech
Co-investorsBetter Tomorrow VenturesAbstract VenturesValor Capital Group
Caliza provides cross-border payment infrastructure that lets international businesses make instant global payouts, open multi-currency and USD-denominated accounts, run FX and treasury operations, and transact in fiat or stablecoins.
Crypto & Web3FintechSaaS
Co-investorsAbstract VenturesDigital Currency GroupDunbar CapitalKraynos CapitalQED InvestorsQuona Capital+2 more
CapWay was a fintech company focused on creating inclusive financial access, but the company has ceased operations.
FintechSaaSAtlanta, US
Sheena Allen(Founder)in
Co-investorsNew Orleans Startup FundStacked CapitalY CombinatorBackstage CapitalFearless FundIndicator Ventures+2 more
Cofertility is a fertility company focused on the family-building journey, offering egg freezing, egg donation matching, and related support services to individuals and families.
Digital HealthFemTechHealthtechNew York, US
Lauren Makler(Founder)inHalle Teccoin
Co-investorsCoalition OperatorsEverywhere VenturesForeground CapitalHow Women InvestMuse CapitalNext Ventures+5 more
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
Co-investorsCreative Destruction Lab (CDL)JovonoY Combinator
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
Co-investorsAccelBalaji SrinivasanY CombinatorCoinbase VenturesGeneral CatalystKindred Ventures
CoinTracker is crypto portfolio tracking and tax software that syncs wallets and exchanges to generate IRS-ready tax forms.
Jon Lerner(Founder)in
Co-investorsAccelCoinbase VenturesHomebrewKindred VenturesGeneral CatalystY Combinator
Coperniq provides an operating system for residential and commercial contractors that unifies sales, project management, service operations, and AI agents across multiple trades.
AI & Machine LearningClimate TechEnterprise SoftwareLogistics & Supply ChainSaaSSan Francisco, US
Abdullah Al Zandani(Founder)inMax Kazakov(Founder)in
Co-investorsY Combinator
Crewline sells a retrofit autonomy kit that converts existing construction machines—starting with vibratory drum rollers, with dozers, rock trucks and excavators in development—into self-driving equipment backed by remote operators and 24/7 monitoring.
AI & Machine LearningConstruction TechRoboticsLondon, GB
Frederik Filz-Reiterdank(CEO)inMohamed Sadek(CTO)in
Co-investorsBegin CapitalEntrepreneur FirstTranspose Platform ManagementNebular
Curri provides logistics and delivery solutions for the construction and industrial materials supply chain.
AI & Machine LearningConstruction TechLogistics & Supply ChainPropTechSaaSLos Angeles, US
Brian Gonzalez(Founder)inMatthew Lafferty(Founder)inMattin
Co-investorsBessemer Venture PartnersBrick Mortar VenturesY CombinatorRainfall Ventures
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
Co-investorsNorthzoneY CombinatorEQT VenturesTiger Global Management
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)in
BoardKoichiro Nakamura(Director)inEurie Kim(Director)in
Co-investorsSozo VenturesY CombinatorAera VCForerunner VenturesGaingels
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
Eric Button(Founder)inKristian Gaylord(Founder)in
Co-investorsDCVC (Data Collective)Decisive PointSpacecadet VenturesY CombinatorLombardstreet Ventures
eqtble provides a people analytics platform that helps HR and talent leaders analyze workforce data to inform employment decisions.
Enterprise SoftwareHR TechSaaSNew York City, US
Joseph Ifiegbu(Founder)inGabe Horwitz(Founder)inEthan Veres(Founder)in
Co-investorsOpen Opportunity FundOUTBOUND CAPITALRoot and Shoot VenturesY Combinator
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)inMisa I.(Founder)in
Co-investorsBlackhorn VenturesBlue Ivy VenturesCarnrite VenturesChapter OneCorrelation VenturesDeep Acre+8 more
Platform for controlling and managing robotic systems
San Francisco, US
Joshua Wilson(Executive Officer, Director)Dimitri Onistsuk(Executive Officer)Hans Lee(Executive Officer)
Co-investorsGreen Cow Venture CapitalLiquid VenturesS28 Capital
Shop Garage is an online marketplace for buying and selling specialized vehicles and equipment including fire trucks, ambulances, heavy machinery, and other emergency response vehicles.
Enterprise SoftwareMarketplacesNew York City, US
Martin Hunt(Founder)inAlaz Sengul(Founder)in
Co-investorsInfinity VenturesY CombinatorBenchstrength PartnersFJ Labs
GarageXYZ is a Web3 membership community for motorsport and automotive enthusiasts, offering blockchain-based membership tokens (NFTs) featuring 1-of-1 digital automotive artwork.
Crypto & Web3SocialSports Tech
Co-investorsCosmic Venture PartnersFJ LabsWayfinder VenturesY Combinator
New York, US
Alaz Sengul(Director)Martin Hunt(Executive Officer, Director)
Co-investorsFJ LabsWayfinder VenturesY Combinator
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)
BoardHari Sundram(Director)Jeffrey Parkinson(Director)
Co-investorsBreyer CapitalHeadwater VenturesY Combinator
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)in
PartnerGarry Tan· quoted
Co-investorsAndreessen HorowitzBling CapitalY CombinatorKhosla VenturesTrinity Ventures
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
Co-investorsY CombinatorBenchmark
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)Aya Abdelsalam Ismail(Founder)in
Co-investorsY CombinatorLombardstreet VenturesTectonic Ventures
A group communication platform for gaming communities that includes built-in calendars, discussion boards, and additional collaboration tools.
ConsumerGamingSan Francisco, US
Co-investorsFundersClubY CombinatorMatrixSusa Ventures
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)inRavi Parikh(Director)
BoardChetan Puttagunta(Director)
Co-investorsMenlo VenturesNew Enterprise Associates (NEA)NewView CapitalSixth StreetSLVCTriangle Peak Partners+4 more
Helm Health provides benefit design and member engagement tools for health plans, incorporating cost and quality data into coverage decisions, bundling claims into transparent pricing, and offering provider search functionality.
Enterprise SoftwareHealthtechInsurTechSan Francisco, US
Co-investors.406 Ventures3CC | Third Culture CapitalFlare Capital PartnersHeadwater VenturesSemperVirens Venture CapitalDigitalis Ventures
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)
Co-investorsMyelin VCY CombinatorGaingels
Kapa is an AI agent platform that deploys on documentation sites to answer user questions directly from existing docs and connected sources.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareFuture of WorkSaaSDover, US
Emil Soerensen(Founder)inFinn Bauer(Founder)in
Co-investorsY Combinator
Karma (yourkarma.com) is a New York City-based company; public sources fetched provide no substantive verified detail about its business.
FintechNew York City, US
Co-investorsTechstarsVTF Capital1CrowdRothenberg VenturesSusquehanna Growth EquityTiger Global Management+1 more
Karma is a cloud-based restaurant management platform combining POS, loyalty, online ordering, payments, and marketing in one system for restaurants.
FoodTechRetail TechSaaSStockholm, SE
Co-investorsRocketship.vcNorrsken VCSusquehanna Growth EquityTiger Global ManagementTop Tier Capital Partners
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
Co-investorsGood FriendsJavelin Venture PartnersY CombinatorInterplay Ventures Early Stage Management LlcOMERS Ventures
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
Co-investorsMoonfire VenturesY Combinator
Lob provides software and hardware infrastructure for automating, personalizing, and tracking direct mail campaigns at scale.
Enterprise SoftwareLogistics & Supply ChainMarketing TechSaaSNew York City, US
Harry Zhang(Founder)Leore Avidar(Founder)Eduardo Browne(Executive Officer)Donnell Vanker(Executive Officer)
Co-investorsFloodgateFrontline VenturesStructural CapitalTodd and Rahul’s Angel FundY CombinatorFirst Round Capital+3 more
Mezmo offers Active Telemetry, a pipeline that sits between telemetry sources and observability platforms to filter, enrich, and route log and metrics data in real time, reducing data volume and cost while providing curated context to engineering teams and AI agents.
AI & Machine LearningCloud ComputingData & InfrastructureDeveloper Tools
Lee Liu(Founder)inTucker Callaway(Chief Executive Officer)in
Co-investorsKima VenturesEmergence CapitalNightDragon
Modulo is a biotech company focused on the neuroimmune system, developing treatments for brain and central nervous system disorders.
AI & Machine LearningBiotechDeep TechLos Altos, US
Michael Horowitz(Executive Officer, Director)Mike Horowitz(CEO & Co-founder)Justin Ichida(Co-founder)Scott Patterson(CTO & Co-founder)Joe Wagner(Chief Development Officer)
BoardAlda Leu Dennis(Director)
Co-investorsCantos VenturesHAWKTAILSpacecadet VenturesBiovergeBuilders VCRefactor Capital
NoScrubs is a laundry pickup and delivery service offering wash-and-fold with same-day (as little as 4-hour) return, bookable through its app or website with flexible and subscription plans.
ConsumerLogistics & Supply ChainMarketplacesAustin, US
Matthew O'Connor(Executive Officer, Director, Promoter)
Co-investorsVery Serious Ventures
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)
BoardIlya Sukar(Director)
Co-investorsY CombinatorArena VenturesMatrix
Orbio Earth provides satellite-based methane emission data to financial investors and institutions, replacing traditional estimation methods used in the oil and gas sector.
AI & Machine LearningClimate TechData & InfrastructureEnterprise Software
Robert Huppertz(Founder)inJack Angela(Founder)in
Co-investorsSatganaY Combinator
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
Co-investorsBlack FlagGoAhead VenturesOlive Tree CapitalTRAC (Third Round Analytics Capital)Y CombinatorHarpoon Ventures+2 more
Pano develops artificial intelligence and machine learning technology solutions to help utility companies and fire agencies detect and manage wildfire threats.
AI & Machine LearningClimate TechDefense TechEnterprise SoftwareMedia & EntertainmentCambridge, US
Sonia Kastner(Founder & CEO)
Co-investorsAthletic VenturesCerity Partners VenturesCongruent VenturesConvective CapitalGiant Ventures Global LlpJanuary Ventures+5 more
Paperspace provided cloud GPU infrastructure and a machine learning development platform, Gradient, for training and deploying AI models.
AI & Machine LearningCloud ComputingDeveloper ToolsDigital HealthEnterprise SoftwareMedical DevicesNew York City, US
Dillon Erb(Founder/CEO)inDaniel Kobran(Founder)inOuwen Huang(CEO)
Co-investorsDCVC (Data Collective)FusionLudlow VenturesRocketship.vcSINEWAVE VENTURESTransmedia Capital+6 more
Paperspace, now part of DigitalOcean, provides GPU compute infrastructure and AI products with on-demand pricing for machine learning workloads.
AI & Machine LearningCloud Computing
Dillon Erb(Founder)in
Co-investorsAmino CapitalBattery VenturesDCVC (Data Collective)Intel CapitalLudlow VenturesSINEWAVE VENTURES+1 more
Pax AI provides AI-powered compliance infrastructure for global trade, helping enterprises manage duty drawback and trade compliance across fragmented systems.
AI & Machine LearningEnterprise SoftwareFintechLogistics & Supply ChainSaaSSan Francisco, US
Penny Chen(Founder & CEO)inChris Le(Founder)in
Co-investorsBasis Set VenturesGeneral CatalystSancus VenturesSoma CapitalTranspose Platform ManagementY Combinator+2 more
PermitFlow provides an AI-powered platform that automates the construction permitting lifecycle, from research and application preparation to submission and tracking.
AI & Machine LearningConstruction TechPropTechNew York City, US
Samuel Lam(Founder)inSamuel K. Lam(Founder)Francis Thumpasery(Founder)in
Co-investors1Sharpe VenturesAccelAmino CapitalFelicis VenturesFoundamentalKleiner Perkins+3 more
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 TechGovTechIoTRoboticsEl Segundo, US
Zane Mountcastle(Executive Officer, Director, Promoter)Martin Slosarik(Executive Officer, Director, Promoter)in
BoardDavid Cowan(Director)in
Co-investorsAlumni VenturesBasecamp FundBessemer Venture PartnersCredo VenturesGiant Step CapitalStarburst Ventures
Ottimate (formerly Plate IQ) is AI-driven accounts payable automation software that handles the full invoice lifecycle, including invoice coding, approval routing, payment, PO matching, and spend management.
AI & Machine LearningEnterprise SoftwareFintechSaaSLondon, GB
Bhavuk Kaul(Founder/CEO)inDan WywrotMichael Burdick
Co-investors500 GlobalGala Capital PartnersY Combinator
Product Hunt runs an online platform where users submit, browse, vote on, and comment on new tech products such as mobile apps, websites, and hardware projects.
ConsumerMedia & EntertainmentSan Francisco, US
Ryan Hoover(Founder)inRajiv Ayyangar(CEO)in
BoardSteven Sinofsky(Director)
Co-investorsCowboy VenturesY CombinatorAndreessen Horowitz
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 LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareMarketing TechSaaSSan Francisco, US
Ryan Bednar(Founder/CEO)inDillon Forrest
Co-investors500 GlobalFundersClubY Combinator
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)in
BoardToshiya Otani(Director)Yanev Suissa(Director)in
Co-investorsDCVC (Data Collective)Ff Venture CapitalFlucas VenturesHitachi VenturesKeen Venture PartnersM12 (Microsoft's Venture Fund)+18 more
Safari AI is a computer vision platform that connects to a company's existing cameras to monitor physical operations, sending alerts, SOP-based recommendations, and dispatched actions to named operators while attributing outcomes in dollar terms.
AI & Machine LearningEnterprise SoftwareSaaS
Co-investorsUrban InnovationGeneral Catalyst
Satsuma provides infrastructure for developers to extract, transform, and query blockchain data from multiple networks via APIs.
Crypto & Web3Data & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Jonathan Kau(Founder)inDan Li(Founder)in
Co-investorsY CombinatorPantera Capital
Satsuma builds and operates MCP servers and branded MCP apps that connect merchants' existing eCommerce platforms to AI shopping agents such as ChatGPT, Gemini, and Google's Universal Commerce Protocol.
AI & Machine LearningE-commerceRetail Tech
🤖 Matthew Bouchnerin
Co-investorsMercury FundPantera Capital
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
Co-investorsY CombinatorAccelTCVValor Equity Partners
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)
Co-investorsCowboy VenturesFundersClubGovtech FundY Combinator
Shogun provides software tools for ecommerce store optimization and management, integrating with platforms like Shopify and BigCommerce.
Developer ToolsE-commerceEnterprise SoftwareMarketing TechSaaSSan Francisco, US
Finbarr Taylor(Founder/CEO)inNick Raushenbush(Founder)in
Co-investorsAccelInsight PartnersY Combinator
Spaceium builds in-orbit refueling stations that store fuel and supply it to spacecraft, aiming to enable longer missions, larger payloads, and farther travel.
Advanced ManufacturingDeep TechHardwareRoboticsSpace TechOttawa, CA
Ashi Dissanayake(Founder)inReza Fetanat(Founder)in
Co-investorsOlive Tree CapitalSeraphim SpaceY CombinatorZeno Ventures
SpecCheck provides software for opticians, optical labs, and their enterprise partners to manage order communication and lab operations.
Enterprise SoftwareHealthtechSaaSLos Angeles, US
Joe DeMaria(Founder)inArnold Villatoro(Founder)in
Co-investorsY Combinator
Stacker converts data from spreadsheets, Airtable, or databases into web applications for internal teams, external partners, or customers without requiring custom development.
Enterprise SoftwareFuture of WorkSaaSLondon, GB
Michael Skelly(Founder)inSam Davyson(Founder)in
Co-investorsAndreessen HorowitzFinSight VenturesY Combinator
San Francisco, US
Jordan Fisher(Executive Officer, Director)Michael Suswal(Executive Officer, Director)Anthony Lutz, Jr.(Executive Officer)Angela Westbrock(Executive Officer, Director)Christopher Arnold(Executive Officer, Director)David Woollard(Executive Officer)
PartnerGarry Tan· led
Co-investorsDraper AssociatesG SquaredLocus VenturesCRV (Charles River Ventures)Y Combinator
Advanced ManufacturingSacramento, US
Noah Farb(Executive Officer)Benjamin Burack(Executive Officer)
PartnerGarry Tan· led
Co-investorsCRV (Charles River Ventures)Draper AssociatesY Combinator
Stellar Sleep develops a digital solution for sleep management, founded by former insomniacs in collaboration with sleep experts.
Digital HealthHealthtechWellness & FitnessBoston, US
George W(Founder)inEdrei Chua(Founder)in
Co-investorsMoonfire VenturesMyAsiaVCScrum VenturesY CombinatorLombardstreet VenturesSwitch Ventures
AI software-validation platform that indexes full codebases, reviews and security-checks pull requests, learns team standards, and runs changed code in sandboxes through its TREX execution agent.
Developer ToolsSan Francisco, US
Daksh Gupta(Co-founder, Chief Executive Officer and President)Soohoon Choi(Co-founder and Chief Technology Officer)Vaishant Kameswaran(Co-founder)
BoardEric Vishria(Director; Benchmark General Partner)inBrett Gibson relationship; board seat not confirmed(Board member (Initialized Capital))Brett Gibson(Managing Partner, Initialized Capital; seed lead)
Co-investorsCory LevyDrive CapitalY CombinatorBenchmark
Terminal49 offers a container tracking and supply chain visibility platform that unifies real-time milestone data, shipment documents, and automated workflows, integrating with 150+ carriers, terminals, and rail sources.
Data & InfrastructureLogistics & Supply ChainSaaS
Co-investorsAfore CapitalAPA Venture PartnersGrand VenturesStage 2 Capital
Termius builds a modern SSH client and terminal application for engineers, replacing legacy tools with improved productivity and collaboration features.
CybersecurityDeveloper ToolsEnterprise SoftwareUnited States, US
Roman Kudiyarov(Founder)inDmitry Lyfar(Founder)in
Co-investorsY CombinatorS28 Capital
TerrAvion collects and delivers weekly aerial imagery at high resolution for agricultural operations, positioning itself as a cost-effective alternative to satellite and drone-based approaches.
Advanced ManufacturingAgTechSan Francisco, US
Robert Morris(Founder/CEO)inCornell Wright(Executive Officer, Director)
Co-investorsFundersClubY CombinatorPromus Ventures
Allocate is a technology platform that enables wealth advisory firms and asset managers to manage private markets investments at scale, offering AI-powered diligence workflows, white-labeled investment vehicles, and unified portfolio tracking.
AI & Machine LearningFintechSaaSPalo Alto, US
Jeson Patel(Founder)
Co-investorsAndreessen HorowitzGradient Ventures
TigerEye develops AI software for construction professionals to improve job site management and decision-making.
AI & Machine LearningConstruction TechPropTechSaaSSan Francisco, US
Tracy Young(Founder)inRalph Gootee(Founder)in
Co-investorsNext47Y Combinator
Triplebyte operates a marketplace connecting software engineers with growing technology companies, using assessments to match candidates with employers seeking technical talent.
Enterprise SoftwareHR TechSaaSSan Francisco, US
Ammon Bartram(Founder/CEO)in
Co-investorsJames Beshara FundSummit Peak VenturesY CombinatorCaffeinated CapitalFounders Fund
True Link provides financial cards designed to protect vulnerable individuals, particularly elderly people, from fraud and financial abuse while enabling greater independence.
ConsumerFintechNew York City, US
Kai Stinchcombe(Founder/CEO)inClaire McDonnell(Executive Officer, Promoter)in
BoardFrank Rotman(Director)in
Co-investorsCentana Growth PartnersDeciensGenerator VenturesGMO VenturePartnersNelstone VenturesQED Investors+4 more
TruePill provides a digital pharmacy platform that enables healthcare organizations and pharmacies to launch branded, customized pharmacy services with insurance and payment processing capabilities.
Digital HealthHealthtechSaaSSan Francisco, US
Umar Afridi(Founder)inSid Viswanathan(Founder)inSiddarth Viswanathan(Director)
BoardEric Woersching(Director)
PartnerGarry Tan· quoted
Co-investorsAmity VenturesCrunchFundFundersClubOptum VenturesTuesday CapitalY Combinator+3 more
WorkRamp provides a learning platform trusted by over 3 million learners at major brands.
AI & Machine LearningEdTechEnterprise SoftwareHR TechSaaSSan Francisco, US
Ted Blosser(Founder/CEO)inArsh Mand(Founder/COO)in
BoardRafi Syed(Director)inEugene Lee(Director)in
Co-investorsBow CapitalOMERS VenturesY CombinatorGTMfundSalesforce VenturesSlack Fund+2 more
Zentail provides a platform for product information management, listing, pricing, inventory, and analytics—serving ecommerce sellers who need operational automation and efficiency.
E-commerceEnterprise SoftwareLogistics & Supply ChainRetail TechSaaSColumbia, US
Dan Sugarman(Founder/CEO)in
Co-investorsFundersClubY Combinator
ZeroEntropy develops specialized machine learning models for search and retrieval-augmented generation (RAG) pipelines, offering rerankers, embeddings, and fine-tuned models for production AI systems.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Ghita Houir Alami(Founder)inNicholas Pipitone(Founder)in
Co-investorsEntrepreneur FirstLobster CapitalY CombinatorKima Ventures
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 · 7
IPOs and acquisitions across the tracked portfolioBison Trailsacq. by Coinbaseeqtbleacq. by ParadoxGobbleacq. by Intelligent FoodsGuildedacq. by RobloxPaperspaceacq. by DigitalOceanSendwaveacq. by WorldRemitWorkRampacq. by Learning Pool
Portfolio news
latest coverage across their companiesAlix · stocktitan.net · Aug 19, 2026
Pax · manilatimes.net · Jul 18, 2026
Mable · cryptointegrat.com · Jul 17, 2026
Stacker · startupintros.com · Jul 13, 2026
CoinTracker · ycombinator.com · Jul 8, 2026
Heap · ktar.com · Jul 7, 2026
OutRival, Inc. · ycombinator.com · Jun 26, 2026
Manifold · autonews.gasgoo.com · Jun 22, 2026
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.
- Who does Initialized Capital co-invest with?
- Initialized Capital most often shares deals with Y Combinator, DCVC (Data Collective), Drive Capital, among 11 tracked co-investors.
Media · Podcasts & interviews
featuring the teamE744: Kim-Mai Cutler of Initialized Capital & TechCrunch on affordable housing crisis in SF Bay Area
This Week In Startups · Kim-Mai Cutler
Canary Live Bay Area 2025: A live Volts podcast with Kim-Mai Cutler of Initialized Capital
Canary Media · Kim-Mai Cutler
Best of Panic: Garry Tan of Initialized Capital on Crazy Cap Tables, Crypto, & Finding Balance
Howard Lindzon · Garry Tan
VC's Garry Tan and Scott Moss on their journey to Initialized Capital
Garry Tan · Garry Tan
Garry Tan - $200B in Startup Value (Initialized Capital)
That Creative Life · Garry Tan
The Flood Of Venture Capital Into Crypto | Brett Gibson, Partner At Initialized Capital
Scott Melker · Brett Gibson
Co-investors · 106
Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.
Khosla Ventures is a venture capital firm that invests in early-stage companies focused on technology, mobile, and clean energy sectors, including biotechnology applications. The firm provides capital and strategic support to entrepreneurs developing breakthrough technologies across multiple markets.
Accel is a venture capital firm that partners with exceptional teams, positioning itself as a first partner to founders globally.
Benchmark is a venture capital firm with offices in San Francisco and Woodside that invests in early-stage startups.
Bessemer Venture Partners is a global venture capital firm that partners with entrepreneurs across enterprise, consumer, and healthcare sectors from early stages through growth.
Alumni Ventures (AV) is a venture capital firm that co-invests alongside lead VCs in startups, backing founders with capital and access to a large investor and operator community.
First Round Capital is an early-stage venture firm that backs companies at their earliest moments, often before they are named, across enterprise, AI, consumer, healthcare, fintech and hardware sectors.
Kleiner Perkins is a venture capital firm that backs founders across technology and life sciences, from early stage through growth.
Forerunner Ventures is a venture capital firm that backs companies redefining consumer behavior, health, commerce, fintech, and AI-native products.
OMERS Ventures is a venture capital firm that invests in founders globally, with investment teams based in New York, Palo Alto, and Toronto.
Breakthrough Energy, founded by Bill Gates, backs innovators developing affordable, reliable, and clean energy technologies, investing across manufacturing, electricity, agriculture, transportation, and buildings.
Founders Fund is a venture capital firm that backs technology companies building transformative products.
▶94 more co-investors
Insight PartnersMenlo VenturesEverywhere VenturesGradient VenturesSlow VenturesLux CapitalKapor CapitalIntel CapitalNorthzoneGeneral AtlanticEarl Grey CapitalGiant Ventures Global LlpJetstreamRoot Ventures Manager, LlcFoundamentalCoalition OperatorsCerity Partners VenturesCongruent VenturesShield CapitalEVE AtlasMagnify VenturesCubit CapitalSequoia CapitalGV (Google Ventures)Index VenturesLong Journey VenturesFounder CollectiveNotable CapitalBain Capital VenturesUberNorwest Venture PartnersLookout VenturesStride VCUlu VenturesBuckley Ventures Management Company LlcLerer HippeauThrive CapitalBAM VenturesTq Ventures LlcWinklevoss CapitalDell Technologies CapitalFuel Capital7percent VenturesInspired CapitalHigh Alpha2xNGalaxy Digital Assets FundHighland Capital PartnersVitalStage VenturesHelium-3 VenturesSweet CapitalSolana VenturesImmeasurableMantis CapitalStealth CapitalTrucks VC1984 Ventures Management, LlcParadox CapitalAmbush CapitalTrust FundArchetypeBBG VenturesJAZZ Venture PartnersGeek VenturesPIPELINE CAPITAL PARTNERSArriveVista Venture PartnersGrotech VenturesMaven VenturesStellation CapitalAirTree VenturesAlpha EdisonGemini Israel VenturesAvalanche VCDivergent CapitalSandbox IndustriesOCA Ventures7GC & CoImaginary Venture CapitalArbor 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.
Similar investors
Khosla Ventures is a venture capital firm that invests in early-stage companies focused on technology, mobile, and clean energy sectors, including biotechnology applications. The firm provides capital and strategic support to entrepreneurs developing breakthrough technologies across multiple markets.
Everywhere Ventures is an early-stage venture firm, backed by a community of founders and operators as LPs, that writes early checks (including pre-seed) into startups across many sectors and geographies.
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