The Alchemy Fund
Venture capitalPioneer Valley · Seed · 4 people tracked
Investment thesis
Alchemy invests in seed-stage ventures with enterprise potential in underserved markets outside major tech hubs. The firm identifies talented founding teams and helps upgrade business models, add differentiated technology, and establish operating strategies to create national-quality ventures. Rather than screening deals passively, Alchemy actively works with teams during critical formative stages, providing coaching, mentorship, and access to local resources. The firm targets ventures capable of reaching Series A maturity and $100M+ scale, remaining technology and sector agnostic while prioritizing projects with clear paths to positive cash flow using regional seed capital of $1–3M.
Source: firm website, verified Aug 6, 2026.
Team · 4 people
from the firm's website & public directoriesWhat they invest in
from 11 of 19 portfolio companiesCleantech ×6Energy ×3IoT ×3Logistics & Supply Chain ×2New Materials ×2Space Tech ×2AgTech ×1Consumer ×1
HQs:United States×7
Investments · 19 tracked
founders shown can be your intro pathElectrochemical water purifier using patent-pending technology to remove contaminants including PFOA.
Mansfield, US
Julie Bliss Mullen(Executive Officer, Director)Leanne Hersey(Founder)inPamela Lynch(Executive Officer)Orren Schneider(Executive Officer)
BoardJiten Manglani(Director)Tom Ferguson(Director)in
Co-investorsDCVC (Data Collective)Echo River CapitalHG VenturesMassVenturesBURNT ISLAND VENTURES
Clean Crop develops plasma-based seed treatment technology and hardware systems for treating seeds and food surfaces in the agriculture sector.
AgTechCleantechFoodTechHardwareHolyoke, US
Daniel White(Executive Officer, Director)Daniel Cavanaugh(Co-founder)
BoardTom Boddez(Director)Justin Frankert(Director)Pete Oberle(Director)Amy Duffuor(Director)in
Co-investorsAzolla VenturesBread And Butter Ventures, LlcClimate Impact CapitalInnova Memphis, Inc.Prime Impact FundR/GA Ventures+2 more
Conductor is a deal desk and transaction platform for the distributed solar and storage middle market, helping developers, EPCs, and investors price, fund, and close community solar, small utility, and commercial & industrial projects.
CleantechEnergyFintech
PartnerChris Sims· solo GP
Consolidated cybersecurity platform designed for small and medium-sized organizations without dedicated security teams.
CybersecurityPortland, US
T. Andrew Rinaldi(Executive Officer, Director)Rob Simopoulos(Executive Officer, Director)
BoardNorman Mentz(Director)Joe Raczka(Director)Jerry King(Director)
Co-investorsCEI VenturesFreshTracks Capital
Eflex builds intelligent energy systems for residential and small commercial customers, automatically managing non-critical loads and monitoring energy production and consumption.
CleantechEnergyIoT
Andrew(Chairman & CEO)
PartnerChris Sims· solo GP
Embue offers a smart building platform for multifamily apartment buildings, providing central plant and in-unit equipment control, automation, monitoring, and analytics to reduce energy costs and carbon emissions.
EnergyIoTPropTech
PartnerChris Sims· solo GP
Co-investorsAvesta FundLotus Venture PartnersShadow Ventures
3D-to-CNC software that converts SketchUp designs into tool paths for faster fabrication.
Lomat operates a "DriveShare Network" that connects employers who need drivers to deliver products with vetted, qualified drivers who set their own schedules.
Future of WorkLogistics & Supply ChainMarketplaces
PartnerChris Sims· solo GP
Idle Smart makes automated idle reduction systems for heavy-duty trucking fleets, cutting fuel use, downtime, and CO2 emissions from extended engine idling.
CleantechIoTLogistics & Supply ChainMobility & TransportationLenox, US
Jeff Lynch(Founder & CEO)inJeffrey Lynch(Executive Officer)
Co-investorsBeacon AngelsClimate Innovation CapitalEvergreen Climate InnovationsKCRise FundStout Street CapitalSustainVC
Platform connecting commercial drivers with on-demand shift opportunities for quick cash compensation.
Fashion brand featuring minimalist, ethically-made women's apparel handcrafted in Europe.
PartnerChris Sims· solo GP
Ompractice offers live camera-on and on-demand online yoga, fitness, and mindfulness classes, with over 100 live classes weekly for students of all ages and ability levels.
ConsumerSports TechWellness & Fitness
PartnerChris Sims· solo GP
Co-investorsMaroon Venture Partners Fund
Provides renewable energy and efficiency solutions to businesses and institutions through proprietary matching software.
PartnerChris Sims· solo GP
Co-investorsClean Energy Venture
PartnerChris Sims· solo GP
Manufactures patented thermoplastic interconnecting clamps for aerospace wire harness management.
Verde Technologies develops ultra-thin, flexible perovskite solar cells using roll-to-roll manufacturing, offering high power-to-mass and radiation tolerance for space and defense power applications, with future terrestrial uses.
CleantechNew MaterialsSpace TechBurlington, US
Chad Miller(Co-founder & CTO)Richards Miller(President; Chief Executive Officer; Secretary; Director)Jean-Noël Poirier(CEO)Randall Headrick(Director)Skylar Bagdon(Director)
BoardSteve Bolze(Director)
Co-investorsFreshTracks CapitalVermont Center for Emerging Technologies (VCET)
Verde Technologies develops ultra-thin, flexible perovskite solar cells using roll-to-roll manufacturing, offering high power-to-mass and radiation tolerance for space and defense markets, with future terrestrial applications.
CleantechNew MaterialsSpace Tech
Jean-Noël Poirier(CEO)Chad Miller(Co-founder & CTO)
PartnerChris Sims· solo GP
Co-investorsCORI InnovationVermont Center for Emerging Technologies (VCET)
Weebly is a website and eCommerce platform that enables entrepreneurs to build, manage, and grow online stores with integrated tools for marketing, inventory, shipping, and analytics.
Direct to ConsumerE-commerceEnterprise SoftwareMarketing TechSaaSSan Francisco, US
David Rusenko(Founder/CEO)inChris Fanini(Founder/CTO)inDan Veltri(Founder/CPO)inJohn David Rusenko, Jr.(Co-Founder & CEO)Steven Anderson(Board Director (Baseline Ventures))
BoardRoelof Botha(Board Director (Sequoia Capital))in
PartnerChris Sims· solo GP
Co-investorsBaseline VenturesFloodgateY CombinatorSequoia Capital
Exits · 1
IPOs and acquisitions across the tracked portfolioWeeblyacq. by Square
Fund performance · per public LP disclosures · 4
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Alchemy Special Opportunities Fund IIILPs: California State Teachers' Retirement System, Maryland State Retirement and Pension System, Rockefeller Foundation | 2014 | — | 7.5% | 1.54x | 1.16x |
| Alchemy Special Opportunities Fund II, L.P.LPs: San Diego City Employees' Retirement System, Maryland State Retirement and Pension System | 2010 | — | 10.1% | 1.55x | 1.31x |
| Alchemy Plan (Estrellita) L.P.LPs: California State Teachers' Retirement System | 2002 | — | 3.6% | 1.17x | 1.17x |
| Alchemy Plan (City of Angels)LPs: Los Angeles City Employees' Retirement System | 1999 | — | 5.7% | 1.25x | 1.25x |
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 The Alchemy Fund made?
- The Alchemy Fund has 19 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does The Alchemy Fund invest at?
- The Alchemy Fund invests at the Seed stage.
- What is The Alchemy Fund's typical check size?
- The Alchemy Fund typically writes checks of $1M – $3M.
- What sectors does The Alchemy Fund focus on?
- The Alchemy Fund focuses on Sector Agnostic.
- Where is The Alchemy Fund located?
- The Alchemy Fund is headquartered in Pioneer Valley, US.
- Does The Alchemy Fund lead rounds?
- The Alchemy Fund typically participates in rounds rather than leading them.
- Who does The Alchemy Fund co-invest with?
- The Alchemy Fund most often shares deals with FreshTracks Capital, Vermont Center for Emerging Technologies (VCET), DCVC (Data Collective), among 30 tracked co-investors.
Images
Co-investors · 45
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.
Founders Fund is a venture capital firm that backs technology companies building transformative products.
Lightspeed is a global venture capital firm that has spent over two decades backing innovative companies as an early and first investor.
Greylock Partners is an early-stage venture capital firm that partners with founders building novel companies, providing deep engagement, network, and resources to each investment.
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.
Redpoint Ventures is a venture capital firm established in 1999 by former partners from leading venture firms, focusing on early-stage technology companies across multiple sectors. The firm leverages its partners' technology investment experience and an extensive network of entrepreneurs and industry contacts to support portfolio company growth.
Founder Collective is an early-stage venture capital firm focused on seed and pre-seed investments across all sectors.
Notable Capital is a venture capital firm that has partnered with founders for over two decades, backing companies from the earliest stages through to exit.
SV Angel is an investment firm that partners with and supports founders building transformative companies, providing long-term backing and close advisory relationships.
Sound Ventures is a venture capital firm that seeks to invest in the technology sector.
Union Square Ventures is a venture capital firm based in New York City that invests at the edge of large markets undergoing transformation from technological and societal pressures.
Goat Capital is a venture capital firm. Its public homepage lists its founders and a contact email but provides limited additional detail.
▶33 more co-investors
Precursor VenturesSignalFireTodd and Rahul’s Angel FundHack VCNot Boring CapitalPantera CapitalGSV AccelerationAwesome People VenturesHaun VenturesRobot VenturesDragonflyMosaic VenturesCapital FactoryIVCGreenoaksAdverb VenturesScalar CapitalSamsung NextMantis CapitalAmbush CapitalLAUNCHub VenturesArchetypeWndrCoParaFi CapitalAlchemy VenturesTimespan VenturesForm CapitalPharos Capital GroupFirework VenturesFramework VenturesGreen Bay Ventures1/1 Capital1k(x)
Firms observed investing alongside The Alchemy Fund, from public investor directories. Shared companies are the overlap with The Alchemy Fund's recorded portfolio.
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