Fundraising Fox

Tenaya Capital

Venture capital

Palo Alto · Series A–Late Stage · 8 people tracked

Also known as TENAYA CAPITAL, LLC

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Investment thesis

Tenaya Capital invests early-growth stage capital in exceptional entrepreneurs building technology companies. Its portfolio spans enterprise software, cloud infrastructure, cybersecurity, semiconductors, data infrastructure, marketing technology, healthcare IT, fintech, and consumer internet, with investments across North America and Asia (notably China and India).

Source: firm website, verified Aug 25, 2026.

Stage
Series A–Late Stage
Check
$5M – $10M
HQ
Palo Alto, California, US
Instruments
Equity
Founded
2009
AUM
$1.5B
VC funds
4
Tracked investments
193

Team · 8 people

from the firm's website & public directories
Michelle Elston· Vice President, Administration

What they invest in

from 48 of 193 portfolio companies

SaaS ×26AI & Machine Learning ×21Enterprise Software ×21Cloud Computing ×11Marketing Tech ×11Cybersecurity ×9Data & Infrastructure ×7Fintech ×5

HQs:United States×39

Who they back

founder profiles across 31 portfolio companies
35%
solo founders
11 of 31 mapped founding teams
65%
repeat founders
of 17 founders with career history
~6 yrs
old at investment
median across 14 dated deals

Founding team size:solo founder×112 founders×103 founders×74+ founders×3

Where their founders studiedfrom 17 founders with education data

California State University-Sacramento ×2Stanford University ×2UC San Diego ×2

Where their founders worked beforefrom 17 founders with career history

Autodesk ×2Lennar ×2WebSideStory ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×3

Investments · 193 tracked

founders shown can be your intro path

By year:2024 · 22023 · 12021 · 12020 · 22019 · 12018 · 42017 · 12015 · 82014 · 525 dated

Aspen AerogelsinNYSE: ASPN

Northborough, US

Donald R. Young(Executive Officer, Director)George L. Gould(Executive Officer)Gregg R. Landes(Executive Officer)John F. Fairbanks(Executive Officer)Harry R. Walkoff(Executive Officer)Kevin A. Schmidt(Executive Officer)

CareCloudcarecloud.comNASDAQ: CCLD

Stephen Snyderin

Co-investorsDot CapitalNorwest Venture PartnersRunway Growth Capital

Green Dotgreendot.comin𝕏NYSE: GDOTOct 2014

Provider of prepaid financial services, and owns and operates the Green Dot Network, the largest cash reloading network in the United States.

Provo, US

George Gresham(Executive Officer, Director)Jess Unruh(Executive Officer)Teresa Watkins(Executive Officer)Amy Pugh(Executive Officer)Chris Ruppel(Executive Officer)Konstantinos Sgoutas(Executive Officer)

Co-investorsMillennium Technology Value PartnersTTV Capital

Health Catalysthealthcatalyst.comin𝕏NASDAQ: HCAT

Health Catalyst provides a data platform, analytics applications, and AI-powered insights that help healthcare organizations improve clinical, financial, and operational performance.

AI & Machine LearningData & InfrastructureDigital Health

Co-investorsDecheng CapitalEPIC VENTURESFifty YearsKaiser Permanente VenturesNorwest Venture PartnersOSF Ventures+1 more

HubSpotNYSE: HUBS
Lyftlyft.com𝕏NASDAQ: LYFT

Lyft is an on-demand ridesharing platform that connects passengers with drivers for various ride types, including standard rides, premium options, and other transportation services.

MarketplacesMobility & TransportationSan Francisco, US

Logan Green(Co-founder & CEO)inJohn Zimmer(Co-founder & President)inDavid Risher(CEO)in

Co-investorsAglae VenturesAllied Venture PartnersAlpha Wave GlobalAndreessen HorowitzBling CapitalCoatue Management+35 more

LeanDataleandata.comin𝕏✓ verified

LeanData provides AI-powered revenue orchestration software that routes and connects data, teams, and systems across the buyer journey for B2B companies' go-to-market and RevOps teams.

Marketing TechSaaSSales Tech

Evan Liang(Co-founder & Chief Strategy Officer)Kelvin Cheung(Co-founder)Katy Keim(Chief Executive Officer)Brian Birkett(Sales Leadership)Jaya Jaware(CFO)Jim Bell(Head of Global Marketing)

Co-investorsSapphire VenturesShasta VenturesFundersClubFelicis Ventures

Salt Securitysalt.securityin𝕏May 2021

Salt Security provides an AI-infused platform for protecting APIs and applications from security threats across discovery, posture management, and runtime protection.

AI & Machine LearningCybersecurityEnterprise SoftwareNew York City, US

Roey Eliyahu(Founder/CEO)Michael Nicosia(COO, Co-Founder)

BoardHaim Sadger(Director)in

Board seatTom Banahan· per SEC Form D

Co-investorsAlkeon InnovationCapitalGFoundersX VenturesSequoia CapitalY CombinatorS Capital

Access processing semiconductors

Provides access processing semiconductors enabling the delivery of new services for the evolving communications network infrastructure.

Acquiaacquia.comin𝕏Sep 2015

Acquia provides digital experience platform software and services built around Drupal that enables enterprises to manage content, build websites and applications, and deliver experiences across multiple channels.

AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise SoftwareMarketing TechSaaSBoston, US

Dries Buytaert(Co-Founder, Executive Chairman)inThomas N. Erickson(Chief Executive Officer, President)Michael Cayer(General Counsel and Secretary)William Sorenson(Chief Financial Officer)

BoardRavi Viswanathan(Director)inBrian Paul(Director)in

Co-investorsVista Equity PartnersBantam GroupCenterview Capital TechnologyG20 VenturesGolub GrowthNew Enterprise Associates (NEA)+3 more

Active-Semiactive-semi.com

Active-Semi International develops power management semiconductor products, including battery management devices, DC/DC converters, intelligent motor controllers, and power application controllers for brushless DC and permanent magnet synchronous motors.

EnergyHardwareSemiconductors

Aerogels developer

Developer of a proprietary, easy-to-use blanket form of aerogels with broad application to a variety of markets.

AgilOneApr 2014

Cloud-based predictive marketing platform that helps marketers connect with the individual.

Mountain View, US

Omer Artun(Executive Officer, Director)Anselme Le Van(Executive Officer)Dominique Levin(Executive Officer)Bill Kiriakis(Executive Officer)Saravanan Chettiar(Executive Officer)

BoardRajeev Batra(Director)

Co-investorsFour Rivers GroupMayfield FundNext World CapitalSequoia Capital

AI sales solutions

Provider of AI solutions for sales.

AI-powered convenience store chain

China-based chain of next-gen convenience stores powered by AI and IOT.

Aledadealedade.comin𝕏

Aledade is an accountable care organization (ACO) partner that works with primary care organizations to improve patient outcomes and healthcare quality.

Enterprise SoftwareHealthtechBethesda, US

Bijan Salehizadeh(Co-founder)Farzad Mostashari(Chief Executive Officer and Co-Founder)inMat Kendall(President and Co-Founder)in

BoardRobert Kocher(Director)in

Co-investorsActivate Venture PartnersARCH Venture PartnersEcho Health VenturesGV (Google Ventures)Intrepid Growth PartnersIVP (Institutional Venture Partners)+12 more

All-flash SAN storage

Provider of high performance all solid-state (SSD) SAN storage solutions.

All-in-one HR platform

Provider of an all-in-one HR platform.

All-in-one marketing software

Provider of all-in-one marketing software platform.

Apache Hadoop provider

Open source software provider that develops, distributes, and supports the Apache Hadoop platform.

Apartment Listapartmentlist.comin𝕏

Apartment List operates an online rental marketplace that uses a quiz-based AI matching system to connect renters with apartments that fit their preferences and lifestyle.

AI & Machine LearningMarketplacesPropTechSan Francisco, US

John Douglas Kobs II(Executive Officer, Director)Charles Christopher Herndon(Executive Officer, Director)John Kobs(Founder)Chris Erickson(Co-founder)

BoardJosh Hannah(Director)Dana Stalder(Director)in

Co-investorsAndre IguodalaAUTHENTIC VENTURESCanaan PartnersGlynn Capital ManagementMatrixTribeca Early Stage Partners+3 more

Apartment rental marketplace

Building the most liquid marketplace for renting an apartment in the United States.

API security provider

Leading provider of API security solutions to protect SaaS, web, mobile, microservices and IoT applications.

Application performance management

Software-as-a-Service provider of application performance management solutions that enable developers and operations teams to monitor, troubleshoot, and tune application performance.

Asterisk and Switchvox provider

Offers Asterisk® software free to the open source community and offers Switchvox IP PBX software for small, medium, and large businesses.

Baihe
Baixing
Base CRM
Bianlifeng
Big Data Analytics Platform

Provider of Big Data Analytics Platform.

Bigcommercebigcommerce.com.auin𝕏

BigCommerce is an open, API-first ecommerce platform for building and scaling online stores, serving both B2C and B2B brands with drag-and-drop storefront building, customizable checkout, multi-currency/multi-language selling, and 600+ integrations.

E-commerceRetail TechSaaS

Co-investorsRevolutionTelstra VenturesTitanium VenturesFloodgateGeneral Catalyst

BigCommerce (NASDAQ:CMRC)bigcommerce.comin𝕏Apr 2018

BigCommerce is a cloud-based ecommerce platform that enables merchants and retailers to build and manage online stores.

Cloud ComputingE-commerceEnterprise SoftwareRetail TechSaaSAustin, US

Wadih Machaalani(Director)Mitchell Harper(Director)Robert Alvarez(Executive Officer)Tim Schulz(Executive Officer)Steven Power(Executive Officer)

BoardLawrence Bohn(Director)in

Co-investorsFloodgateGeneral CatalystMillennium New HorizonsMillennium Technology Value PartnersNotable CapitalGoldman Sachs+1 more

Brighter

Healthcare marketplace where dentists compete for patients based on price, quality, and convenience.

Broadband wireless access systems

Provides broadband wireless access systems for service providers seeking to deliver high speed connectivity.

Canopygetcanopy.cominMay 2024 · $35M

Canopy provides cloud-based, all-in-one practice management software for accounting firms, combining client management, CRM, document management, workflow, time and billing, engagements, and proposals with AI features.

AI & Machine LearningEnterprise SoftwareFintechSaaS

Co-investorsHigh AlphaNew Enterprise Associates (NEA)NewView CapitalNycaNyca PartnersAnkona Capital+5 more

Canopy Taxcanopytax.cominMay 2024 · $35M

Canopy is a cloud-native, all-in-one practice management platform for U.S. accounting, CPA, tax, and bookkeeping firms, combining client management, documents, billing, workflow, and communication in one login.

AI & Machine LearningFintechSaaSSouth Jordan, US

Kurt Avarell(Executive Officer, Director, Promoter)Davis Bell(Executive Officer, Director)

BoardNed May(Director)Josh Harmsen(Director)inAnkit Sud(Director)inChetan Puttagunta(Director)

Co-investorsAnkona CapitalNew Enterprise Associates (NEA)NewView CapitalPelion Venture PartnersPelion VenturesTen Coves Capital

Carrier Ethernet Edge and Aggregation Systems

Develops and manufactures Carrier Ethernet Edge and Aggregation Systems for business services and mobile backhaul.

CastIron
CDN and web performance provider

Provides CDN services and is a leader in creation of technologies that allow website operators and large enterprises to dramatically improve web performance.

China home shopping network

A home shopping network that manages and operates TV home shopping channels targeting cable television viewers in China.

China matchmaking service
China online classifieds

Leading online classifieds site in China.

China travel web site

Chinese travel web site that focuses on providing the most comprehensive and accurate information for travel services.

Clariclari.cominMar 2018

Clari, merged with Salesloft, provides an AI-powered system for revenue prediction and optimization serving enterprise customers.

AI & Machine LearningSaaSSales TechSunnyvale, US

Venkat Rangan(Executive Officer, Director)Andy Byrne(Executive Officer, Director)

BoardEnrique Salem(Director)inAjay Agarwal(Director)inAaref Hilaly(Director)inMark Gainey(Director)

Co-investorsB Capital GroupB4 CapitalBain Capital VenturesHubSpot VenturesLevel EquityMadrona Venture Group+8 more

Cloud adoption security

Enable enterprises to securely adopt the cloud.

Cloud business intelligence platform

Provider of cloud-based business intelligence platform.

Cloud e-commerce platform

Cloud-based e-commerce platform for small and mid-sized merchants to sell products online.

Cloud management platform

Offers a fully automated cloud management platform, delivered as SaaS, which enables organizations to easily deploy and manage business critical applications across multiple clouds.

Cloud tax and accounting software

Provider of cloud-based software for tax and accounting professionals.

Cloud-based log management

Cloud-based log management and analytics company.

CloudPassagecloudpassage.comin𝕏acquired by Fidelis Security

CloudPassage developed Halo, a cloud workload security platform that provided automated visibility, compliance, and protection for servers and containers across public, private, and hybrid cloud environments.

Cloud ComputingCybersecurityEnterprise Software

Co-investorsComcast VenturesRunway Growth CapitalSozo Ventures

Community buying and selling platform

Transforming how people buy and sell in communities all over the world.

Composite Software
Construction collaboration platform

The construction collaboration platform for the field.

Content Activation Platform

Analyzes and correlates, via its Content Activation Platform (CAP), more than 400 million daily conversations and content views across 15,000 exclusive publishers.

Contract lifecycle management platform

Contract lifecycle management platform.

Cotendo
Crewcrewapp.com𝕏

Square is a platform providing integrated payroll, scheduling, team communication, and access management tools designed to help business teams coordinate and manage operations through a unified dashboard.

Enterprise SoftwareHR TechSaaSSan Francisco, US

Co-investorsAcrew CapitalAspect VenturesGreylock Partners

Customer reviews and social commerce

Provides customer reviews and social commerce solutions to retailers and brands, and also operates a product reviews and recommendation site for consumers.

Cyan

Exits · 12

IPOs and acquisitions across the tracked portfolio

Aspen AerogelsNYSE: ASPNCareCloudNASDAQ: CCLDGreen DotNYSE: GDOTHealth CatalystNASDAQ: HCATHubSpotNYSE: HUBSLyftNASDAQ: LYFTCloudPassageacq. by Fidelis SecurityInklingacq. by Echo360Qunaracq. by A Place for MomShoretelacq. by MitelThreatMetrixacq. by LexisNexis Risk Solutionswoogaacq. by Playtika

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures · 4

as of Sep 2025
FundVintageCommittedNet IRRTVPIDPI
Tenaya Capital Fund VII, L.P.LPs: Pennsylvania Public School Employees' Retirement System, North Carolina Retirement Systems201516.4%2.59x0.45x
Tenaya Capital VI, L.P.LPs: North Carolina Retirement Systems, Pennsylvania Public School Employees' Retirement System20120.9%1.09x0.53x
Tenaya Capital Fund VLPs: North Carolina Retirement Systems200716.3%2.09x2.01x
Tenaya Capital V-P, L.P.LPs: Pennsylvania Public School Employees' Retirement System200717.5%2.18x2.09x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Tenaya Capital made?
Tenaya Capital has 188 tracked investments, 13 of which have exited via acquisition or IPO.
What stage does Tenaya Capital invest at?
Tenaya Capital invests at the Series A, Series B, Series C, Growth, Late Stage stages.
What is Tenaya Capital's typical check size?
Tenaya Capital typically writes checks of $5M – $10M.
What sectors does Tenaya Capital focus on?
Tenaya Capital focuses on AI & Machine Learning, Cleantech, Cloud Computing, Consumer, Cybersecurity, Data & Infrastructure, Digital Health, E-commerce, Energy, Enterprise Software, Fintech, Hardware, Healthtech, HR Tech, IoT, Marketing Tech, Media & Entertainment, New Materials, SaaS, Semiconductors.
Where is Tenaya Capital located?
Tenaya Capital is headquartered in Palo Alto, US.
Who does Tenaya Capital co-invest with?
Tenaya Capital most often shares deals with Sequoia Capital, Battery Ventures, Greylock Partners, among 251 tracked co-investors.

Co-investors · 109

$4.4M – $214M
Greylock Partners

Greylock Partners is an early-stage venture capital firm that partners with founders building companies from inception. Its partners make only one or two new investments per year to focus deeply on each partnership.

$100K – $200M
New Enterprise Associates (NEA)

New Enterprise Associates (NEA) is a venture capital firm that invests in and provides long-term support to founders building new companies.

$200K – $40M
Felicis Ventures

Felicis Ventures is a venture capital firm that backs founders primarily at the Seed and Series A stages, frequently leading or co-leading rounds. It operates with a founder-first approach, including a founder pledge and voting commitments.

$500K – $15M
Sapphire Ventures

Sapphire Ventures partners with expansion-stage enterprise software companies aiming to become category leaders.

$5M – $20M
Battery Ventures

Battery Ventures is a global investment firm that has backed more than 450 companies over its 40-year history, operating its investment staff as a single global unit.

$500K – $100M
Index Ventures

Index Ventures is a multi-stage venture capital firm that backs companies from Seed to IPO and beyond, including through its dedicated seed fund Index Origin.

$540K – $10.8M
Norwest Venture Partners

Norwest Venture Partners is an investment firm whose growth equity team backs private, profitable, fast-growing companies, providing capital and hands-on support through its 'invited guest' approach.

$10M – $30M
Venrock

Venrock is a venture capital firm investing across technology and healthcare, backing companies in fintech, developer infrastructure, life sciences, therapeutics, semiconductors, and consumer products.

$500K – $10M
CapitalG

CapitalG is Alphabet's independent growth fund, backing post-product-market-fit technology companies with capital and operational support drawn from Google's expertise.

$50M – $100M
Andreessen Horowitz

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.

Both backed · 4
$500K – $50M
General Catalyst

General Catalyst is a venture capital firm operating as a partnership focused on company building and accelerating the growth of the businesses it backs.

$30M
97 more co-investors

GV (Google Ventures)AccelInsight PartnersKleiner PerkinsIVP (Institutional Venture Partners)WingShasta VenturesFour Rivers GroupLightspeed Venture PartnersBessemer Venture PartnersBenchmarkBain Capital VenturesMenlo VenturesMayfield FundMadrona Venture GroupUS Venture PartnersAugust CapitalNewView CapitalDag VenturesNotable CapitalDCVC (Data Collective)Meritech Capital PartnersDell Technologies CapitalPelion Venture PartnersSutter Hill VenturesWorkday VenturesAnkona CapitalRedpoint VenturesB Capital GroupTrue VenturesUnion Square Ventures (USV)Balderton CapitalScale Venture PartnersFlybridge Capital PartnersRibbit CapitalRidge VenturesParadigmNexus Venture PartnersPeak XV PartnersNyca PartnersBloomberg BetaThomvest VenturesTRANSFORMATION CAPITALS CapitalLearn CapitalGSR VenturesElsewhere PartnersParkway Venture CapitalAlumni VenturesSV AngelSound VenturesRRE VenturesPrecursor VenturesAccel-KKRLookout VenturesEmergence Capital PartnersCanvas VenturesHanabi CapitalThreshold VenturesUncorrelated VenturesCyberstartsHV CapitalRenegade PartnersDraper Fisher Jurvetson (DFJ)CoinFundHyde Park Venture PartnersPolychain CapitalMucker CapitalKohlberg Kravis RobertsPropeller VCGraph VenturesDrive CapitalAZ-VCVerified CapitalGlobal Innovation FundWestWave CapitalNational Grid PartnersGutbrain VenturesMVP VenturesHelion Venture PartnersRedpoint eventuresLiveOak VenturesGranite AsiaMorgenthalerTwo Bear CapitalBaukunstGeneration Investment ManagementCortical VenturesJefferiesGigafundNTT Venture CapitalInreach VenturesFireblocksAVentures CapitalD.E. ShawGarage Technology VenturesInkling, an Echo360 solution

Firms observed investing alongside Tenaya Capital, from public investor directories. Shared companies are the overlap with Tenaya Capital's recorded portfolio.

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