How many investments has Theory Ventures made?

Theory Ventures has 36 tracked investments, 1 of which have exited, including 11 dated in the last 24 months.

What stage does Theory Ventures invest at?

Theory Ventures invests at the Seed, Series A, Series B stages.

What is Theory Ventures's typical check size?

Theory Ventures typically writes checks of $1M – $40M.

Where is Theory Ventures located?

Theory Ventures is headquartered in San Francisco, US.

Does Theory Ventures lead rounds?

Theory Ventures typically participates in rounds rather than leading them.

Who does Theory Ventures co-invest with?

Theory Ventures most often shares deals with Madrona Venture Group, Amplify Partners, Kleiner Perkins, among 49 tracked co-investors.

Theory Ventures

Venture capitalActively deploying

San Francisco · Seed–Series B · 12 people tracked

Also known as Theory Ventures Corollary · THEORY VENTURES MANAGEMENT, LLC

★ Follow + Add to CRM ⤳ Find an introduction

Find your way into Theory Ventures

2,161 people in our graph share verified history with the Theory Ventures team — schools, employers, funds. One of them is your warm intro.

David Phuunlockedknows Kristin Beach · together at Felicis Ventures (overlapped)

×11knows the team · via Felicis Ventures

✨ Fox Verdict

Investment thesis

Theory Ventures is a thesis-driven, early-stage venture firm focused on software companies that turn technology discontinuities into go-to-market advantages. It runs a concentrated portfolio model, aiming for roughly 12-15 core positions per fund, with check sizes ranging from $1M to $40M.

Invests inAI & Machine Learning Cloud Computing Cybersecurity Data & Infrastructure Developer Tools Enterprise Software SaaS Portola Valley San Francisco United States

Source: firm website, verified Sep 15, 2026.

Stage

Seed–Series B

Check

$1M – $40M

San Francisco, California, US

Leads rounds

Follows

Instruments

Equity

Founded

2022

Last 12 months

5 investments

AUM

$688M

VC funds

Tracked investments

Unicorns

Acquisitions

Team · 12 people

from the firm's website & curated & public directories

Tomasz Tunguz· Founder & General Partner· San Francisco, CAin 𝕏

Tomasz Tunguz spent well over a decade at Redpoint Ventures before founding Theory Ventures in 2022, a research-driven firm focused on data, AI and software infrastructure. His daily blog at tomtunguz.com, full of benchmarks and SaaS metrics analysis, has been required reading for software founders for years. He co-authored Winning with Data with former Looker CEO Frank Bien.

t•••@theory.venturesreveal

Tomasz Tunguz-Zawislak· General Partner

Lauren DeMeuse· Partner & COO· Austin, Texas, United Statesin 𝕏

Lauren DeMeuse, former Palantir exec and Roam Analytics CEO, pairs healthcare and data expertise to turn qualitative founder research into interactive datasets and acts as Tunguz's equal on data infrastructure.

l•••@theoryvc.comreveal

Andy Triedman· Principal· San Francisco Bay Areain 𝕏

Andy Triedman personally writes technical essays on AI implementation and, as an operator‑level AI user, invests thesis‑driven in companies extracting hidden reasoning from complex workflows like security analysis and procurement.

a•••@theoryvc.comreveal

Adam Conway· Senior AI Engineer· Oakland, California, United Statesin

Adam Conway is a Senior AI Engineer at Theory Ventures with experience across full stack, mobile, and platform engineering. He previously worked as a Staff Software Engineer at Modern Health and was a founding engineer at Kismet Health, with earlier roles at Stitch Fix and Blue Bottle Coffee.

a•••@theoryvc.comreveal

Amber Mante· Head of Human Intelligence· New York City Metropolitan Areain

Amber has nearly a decade of experience selling technical software at companies including Looker, Google, Monte Carlo, and Chronosphere. Before her tech career, she worked in journalism, marketing, and the social impact and nonprofit sectors. She studied at Northwestern University.

a•••@theoryvc.comreveal

Beth Scheer· Head of Talent· Mill Valley, California, United Statesin

Beth Scheer leads talent at Theory Ventures, bringing over 20 years of talent experience across high-growth tech and venture capital. She was previously Head of Talent at Homebrew, led executive search at Salesforce, and was an early Google hire helping build the AdSense team.

b•••@theoryvc.comreveal

Bryan Bischof· Head of AI· Oakland, California, United Statesin 𝕏

Bryan Bischof leads AI at Theory Ventures. He previously served as Head of AI at Hex building the Magic analytics copilot, started the data team at Blue Bottle Coffee, worked on projects at Stitch Fix, and built data teams at Weights & Biases. He co-authored an O'Reilly book on production recommendation systems, teaches data science at Rutgers, and holds a PhD in pure mathematics.

b•••@theoryvc.comreveal

Kristin Beach· CFO· San Mateo, Californiain

Kristin Beach is CFO at Theory Ventures, bringing 25+ years across venture capital, private industry, and public accounting, with a focus on financial and operational management. She previously served as COO/CFO at Felicis Ventures and CFO at Playground Global, and began her career as an auditor at Deloitte & Touche.

k•••@theoryvc.comreveal

Melanie Rosenberg· Senior AI Engineer· San Francisco, California, United Statesin

AI engineer specializing in generative AI, applied ML, and data science. Previously a founding engineer at Town building agents and infrastructure for a tax automation platform, helped launch Speechlab (from Andrew Ng's AI Fund), led the ML team at Tellus You Care, and worked at Zendrive; holds an MS from Yale.

m•••@theoryvc.comreveal

Rafael Jara-Simkin· Head of Sales Intelligencein 𝕏

A sales leader turned advisor and executive coach who has worked with several data-focused unicorns including Looker, Google, Monte Carlo, and Hex. He built Looker's largest revenue-generating mid-market sales org before its Google acquisition and later led enterprise sales at Monte Carlo.

r•••@theoryvc.comreveal

Spencer Farrar· Investor· San Francisco, Californiain 𝕏

Spencer Farrar is a Partner at Theory Ventures focused on researching emerging technologies and backing determined founders with unique customer insight. He previously helped build an options trading platform with quantitative traders and, before that, invested at a US $4B asset manager where he backed a decacorn alongside Tomasz.

s•••@theoryvc.comreveal

Founder mafia

2 people who came through Theory Ventures went on to found or lead other companies.

Lauren DeMeusePartner & COOFounded Roam Analytics Alexander StratmoenData EngineerFounded Voltra

What they invest in

from 23 of 36 portfolio companies

AI & Machine Learning ×15Data & Infrastructure ×11Enterprise Software ×7Developer Tools ×6SaaS ×6Crypto & Web3 ×5Cloud Computing ×4Fintech ×4

HQs:United States×12France×1

Who they back

founder profiles across 11 portfolio companies

18%

solo founders

2 of 11 mapped founding teams

37%

repeat founders

of 19 founders with career history

Founding team size:solo founder×22 founders×53 founders×34+ founders×1

Where their founders studiedfrom 15 founders with education data

University of Illinois Urbana-Champaign ×2University of Washington ×2University of Waterloo ×2

What their founders studiedfrom 17 founders with field-of-study data

Computer Science ×9Engineering ×3Mathematics & Statistics ×2Physics ×2

Where their founders worked beforefrom 19 founders with career history

Fivetran ×3Apple ×2Docker ×2Google ×2Lightspeed Venture Partners ×2Netflix ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×2

Investments · 36 tracked

founders shown can be your intro path

By year:2026 · 5 2025 · 5 2024 · 313 dated

Superlinkedsuperlinked.com in 𝕏✓ verified

Superlinked builds SIE, an open-source inference engine that runs specialized AI models on shared GPUs, enabling organizations to reduce API costs and improve control over their AI infrastructure for search and document processing workloads.

AI & Machine LearningCloud ComputingData & InfrastructureDeveloper ToolsSan Francisco, US

DanielBen

Co-investorsIndex Ventures Samsung Next Episode1 Firestreak Ventures KAYA MMC Ventures +4 more

Thirdlayerjoindex.com in 𝕏✓ verified

Dex is an AI-powered workspace assistant that ingests operational data across a user's tools and integrations, organizing it into structured context and a knowledge base.

AI & Machine LearningEnterprise SoftwareFuture of WorkSaaSSan Francisco, US

Regina Lin(Founder/CEO)in Kevin Gu(Founder)in

Co-investorsY Combinator A16Z Speedrun Notion Capital

Alliumallium.so in 𝕏Mar 2026 · $40M

Allium provides a data infrastructure platform that translates blockchain data from 150+ chains and 10,000 protocols into standardized formats for enterprises.

AI & Machine LearningCrypto & Web3Data & InfrastructureFintechNew York, US

Ethan Chan(CEO)inCheng Han Lee(CTO)inYi Sheng Chan(Executive Officer, Director, Promoter)

Board David Beyer(Director)in

Board seat Tomasz Tunguz· per SEC Form D

Co-investorsAmplify Partners Kleiner Perkins PruVen Capital Partners Amplify Partners CV

Aampeaampe.com inDec 2024 · $18M

Aampe provides AI agents that personalize customer messaging at the individual-user level, running thousands of parallel experiments to optimize engagement content, timing, and variants.

AI & Machine LearningMarketing TechSaaS

Schaun Wheeler(Founder)in Kate Field(Founder)in

Co-investorsPeak XV Partners Z47 Matrix

Amplify Partnersamplifypartners.comJun 2026 · $40M

Amplify is a venture capital firm that invests in technical founders building infrastructure, developer tools, and AI-driven software products.

AI & Machine LearningData & InfrastructureDeveloper ToolsBay Area, US

Sunil Dhaliwal(Founder)in

Co-investorsNimble Partners Vintage Investment Partners Kleiner Perkins Spark Capital

Artemisgoartemis.aiApr 2026 · $70M

Artemis is an AI-native security operations platform that builds a live model of an organization's environment across identity, cloud, endpoint, and SaaS to detect, investigate, and respond to attacks autonomously.

AI & Machine LearningCybersecurityEnterprise Software

Co-investorsBrightmind Felicis Ventures First Round Capital Two Sigma Ventures

BackOpsbackops.ai in

BackOps builds an AI-native operations platform that ingests a company's standard operating procedures and deploys agents to execute back-office workflows across systems like ERPs, carrier APIs, email, and Slack, routing exceptions to the right people.

AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainSaaSSan Francisco, US

Henry Ou(CTO & Co-founder)in Sean McCarthy(CEO & Co-founder)inChang Hao Ou(Executive Officer, Director, Promoter)

Co-investorsConstruct Capital Gradient Ventures

Blockchainblockchain.com in 𝕏

Blockchain.com is a global infrastructure platform for digital assets that provides cryptocurrency trading, DeFi wallet services, and blockchain exploration tools to millions of users worldwide.

Crypto & Web3Fintech

Nicolas Cary(Founder)inBen R.(Founder)in

Co-investorsBlue Lion Global Coinbase Ventures CRV (Charles River Ventures)Digital Currency Group Future Perfect Ventures Mosaic Ventures +8 more

Dossdoss.com in 𝕏

DOSS builds an Adaptive Resource Platform (ARP) that replaces traditional ERP systems for operations teams across industries.

AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaS

Wiley Jones(Co-founder)in Arnav Mishra(Co-founder)in

Co-investorsContrary Hawk Hill Ventures Madrona Venture Group Pathlight Ventures

Dropzonedropzone.ai in 𝕏Apr 2024 · $16.9M

Dropzone AI builds AI agents that investigate security alerts, hunt threats, and respond to cyberattacks for security teams and organizations.

AI & Machine LearningCybersecurityEnterprise Software

Edward Wu(Founder and CEO)in

Co-investorsDecibel Partners Madrona Venture Group In-Q-Tel Pioneer Square Ventures

Initiainitia.xyz 𝕏

Initia provides blockchain infrastructure that connects full-stack applications through integrated protocols and aligned economic incentives.

Crypto & Web3Data & Infrastructure

Co-investorsA.Capital Ventures Big Brain Holdings Figment Hack VC Nascent

Koahlabskoahlabs.com in 𝕏

Koah builds an ad network and monetization infrastructure purpose-built for AI chat interfaces and conversational AI applications.

AdTechAI & Machine LearningMarketing Tech

LanceDBlancedb.com in 𝕏

LanceDB is an AI-native multimodal lakehouse platform that unifies training data across multiple systems to accelerate model development and dataset creation at scale.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSan Francisco, US

Chang She(Founder)inLei Xu(Founder)in

Co-investorsAngel Collective Opportunity Fund CRV (Charles River Ventures)Swift Ventures The E14 Fund Wayfinder Ventures Y Combinator +5 more

Mazemazehq.com in 𝕏

Maze is a security company, founded in 2024, that uses AI to help defenders identify and address vulnerabilities in code and cloud environments.

AI & Machine LearningCloud ComputingCybersecurityDeveloper Tools

Co-investorsTapestry VC ARCH Venture

Motherduckmotherduck.com in 𝕏

MotherDuck provides a serverless cloud analytics database built on DuckDB, enabling users to query and understand their data more easily.

Cloud ComputingData & InfrastructureSeattle, US

Jordan Tigani(Co-founder and Chief Duck-Herder)inHannes Mühleisen(Co-founder)Mark Raasveldt(Co-founder)Tino Tereshko in Ryan Boyd(Founder)in

Co-investorsAmplify Partners Andreessen Horowitz Eastlink Capital Partners Felicis Ventures Firestreak Ventures Kearny Jackson +7 more

Ollamaollama.com in 𝕏Jul 2026 · $65M

Ollama provides a platform for building with and running open-source language models locally and in the cloud.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwarePalo Alto, US

Jeffrey Morgan(Founder)inMichael Chiang(Founder)in

Co-investorsAngel Collective Opportunity Fund Pace Capital Y Combinator 8VC Benchmark Essence Venture Capital +1 more

Omniomni.co in 𝕏

Omni is an AI-powered analytics platform built around a semantic layer that lets business users ask questions and get fast, governed answers about their data.

AI & Machine LearningData & InfrastructureSaaSSan Francisco, US

Chris Merrick(Co-founder)inColin(Co-founder)Jamie(Co-founder)

Co-investorsAurum ICONIQ Snowflake Ventures South Quad Tamarisc Ventures XG Ventures +2 more

Omniomni.community inMar 2025 · $69M

Omni makes electric scooter attachments that connect to wheelchairs, letting wheelchair users travel on urban and off-road terrain; the company states 95% of wheelchairs are compatible with its devices.

HardwareHealthtechMobility & Transportation

Co-investors50 Partners Craft Ventures Digitalis Ventures First Round Capital GV (Google Ventures)ICONIQ +6 more

Omniomni.app in 𝕏Mar 2025 · $69M

Omni is a non-custodial multi-chain crypto wallet that lets users store, bridge, and swap tokens across multiple blockchains, import wallets from MetaMask, Keplr, and Phantom, build custom portfolios, and buy crypto with a credit card.

Crypto & Web3

Serafin Lion Engel(Founder)

Co-investorsFigment Craft Ventures Digitalis Ventures Emerge Ventures First Round Capital GV (Google Ventures)+9 more

Omnisteakwallet.fi in 𝕏Mar 2025 · $69M

Omni (formerly Steakwallet) is a non-custodial multi-chain crypto wallet that lets users store, swap, and bridge tokens across multiple blockchains, import existing wallets (MetaMask, Keplr, Phantom), earn yields, and buy crypto with a credit card.

Crypto & Web3Fintech

Co-investorsFlori Ventures Craft Ventures Digitalis Ventures Emerge Ventures First Round Capital GV (Google Ventures)+9 more

Sailsavewithsail.com inJun 2026 · $80M

Sail rebuilds payment infrastructure for health savings accounts (HSA/FSA/HRA), allowing users to manage eligible expenses without carrying a separate debit card.

ConsumerDigital HealthFintechHealthtech

Co-investorsAZ Venture Capital Inc.PHX Ventures Abstract Ventures CRV (Charles River Ventures)Kleiner Perkins Redpoint Ventures +1 more

Sail Researchsailresearch.com in 𝕏

Sail Research provides pay-per-token inference infrastructure for open-source large language models, offering an API with configurable completion windows to trade latency for lower token costs.

AI & Machine LearningCloud ComputingData & InfrastructureSan Francisco, US

Samir Menon(Founder)in Neil Movva(Founder)in

Co-investorsAbstract Ventures Kleiner Perkins

Tobiko Datatobikodata.com in 𝕏Jun 2024 · $21.8M

Tobiko builds a data transformation platform with state-aware architecture designed to reduce warehouse costs and build times for data engineering teams.

Data & InfrastructureDeveloper ToolsSaaS

Iaroslav Zeigermanin Tyson Mao inToby Mao in

Co-investorsUnusual Ventures

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Omni Analytics, Inc.AI advertising infrastructureAI-Native Multimodal LakehouseAI-native security data platformCloud-native Analytics PlatformDatableIntelligent Data Transformation FrameworkKoahMetadata-aware embeddings for smarter AIsModern Business IntelligenceNetSuiteNext-Gen ERP PlatformThe Best Way to Own Your AI

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 · 1

1 acquisitions

NetSuiteacq. by Oracle Corporation

Portfolio news

latest coverage across their companies

Fundraising News | Financial IT

Amplify Partners · financialit.net · Sep 3, 2026

ARCH Venture Management LLC Makes New $122.98 Billion Investment in Maze Therapeutics, Inc. $MAZE - Defense World

Maze · defenseworld.net · Aug 26, 2026

Omni Hotel in New Orleans funding debate stalls project - WDSU

Omni · wdsu.com · Aug 20, 2026

Xpander Raises $7.5 Million Seed Funding As Enterprise AI Agent Omni Scores 90.9% On GAIA Benchmark

Omni · pulse2.com · Aug 17, 2026

Xpander Raises $7.5 Million Seed Funding As Enterprise AI Agent Omni Scores 90.9% On GAIA Benchmark

Omni · pulse2.com · Aug 17, 2026

Xpander Raises $7.5 Million Seed Funding As Enterprise AI Agent Omni Scores 90.9% On GAIA Benchmark

Omni · pulse2.com · Aug 17, 2026

Allium Labs has filed a notice of an exempt offering of securities to raise $40 Million in New Funding. - intelligence360

Allium · intelligence360.news · Aug 4, 2026

Ollama Raises $65M as Its Open AI Runner Hits 8.9M Users

Ollama · under30ceo.com · Jul 15, 2026

Frequently asked questions

How many investments has Theory Ventures made?: Theory Ventures has 36 tracked investments, 1 of which have exited, including 11 dated in the last 24 months.
What stage does Theory Ventures invest at?: Theory Ventures invests at the Seed, Series A, Series B stages.
What is Theory Ventures's typical check size?: Theory Ventures typically writes checks of $1M – $40M.
What sectors does Theory Ventures focus on?: Theory Ventures focuses on AI & Machine Learning, Cloud Computing, Cybersecurity, Data & Infrastructure, Developer Tools, Enterprise Software, SaaS.
Where is Theory Ventures located?: Theory Ventures is headquartered in San Francisco, US.
Does Theory Ventures lead rounds?: Theory Ventures typically participates in rounds rather than leading them.
Who does Theory Ventures co-invest with?: Theory Ventures most often shares deals with Madrona Venture Group, Amplify Partners, Kleiner Perkins, among 49 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Inside the AI Sprint | Tomasz Tunguz, Theory Ventures

The Peel with Turner Novak · Tomasz Tunguz

Theory Ventures founder on GTM leverage, AI margins, real enterprise TAM, and more | Tomasz Tunguz

Chargebee · Tomasz Tunguz

The Test That Decides Whether Your AI Pilot Survives | Tomasz Tunguz (Founder of Theory Ventures)

The AI Ready Show · Tomasz Tunguz

Tomasz Tunguz, General Partner at Theory Ventures on the Evolution of Venture Capital.

The Information · Tomasz Tunguz

46 - Tomasz Tunguz, General Partner at Theory Ventures

Slice of Technology · Tomasz Tunguz

The State of SaaS Go-to-Market l Theory Ventures General Partner Tomasz Tunguz #saas #b2bsaas

SaaStr AI · Tomasz Tunguz

Images

Co-investors · 3

Redpoint Ventures

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.

Both backed · 4

Motherduck Omni Omni Analytics, Inc.Sail

$100K – $10M

CRV (Charles River Ventures)

CRV is a venture capital firm that backs founders at the seed and Series A stages, focusing on those with deep conviction and unique insights.

Both backed · 3

Blockchain LanceDB Sail

$250K – $5M

Swift Ventures

Swift Ventures is a venture firm led by former founders who provide company-building and scaling expertise from early stage through IPO.

Both backed · 1

LanceDB

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

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