Toba Capital
Venture capitalIrvine · Pre-Seed–Series A · 9 people tracked
Investment thesis
Toba Capital invests at the early stage in technology companies it believes can achieve long-term growth. The firm looks for teams with the potential to fundamentally shift markets, emphasizing a commitment to the common good alongside commercial success and helping build enduring technology businesses.
Source: firm website, verified Aug 3, 2026.
Team · 9 people
from the firm's website & public directories
What they invest in
from 72 of 149 portfolio companiesEnterprise Software ×36AI & Machine Learning ×30SaaS ×26Fintech ×13Cloud Computing ×9Cybersecurity ×9Data & Infrastructure ×8Energy ×8
HQs:United States×45United Kingdom×1Indonesia×1India×1Kenya×1
Investments · 149 tracked
founders shown can be your intro pathAdagene is a clinical-stage immunotherapy company that uses computational biology and artificial intelligence to discover and design therapeutic antibodies for cancer treatment.
AI & Machine LearningBiotech
BillionToOne is a precision diagnostics company that uses molecular counting technology to develop non-invasive prenatal screening and liquid biopsy tests for early disease detection.
BiotechDigital HealthHealthtechMedical DevicesSan Francisco, US
Oguzhan Atay, PhD(Co-Founder, CEO, and Board Chair)David Tsao, PhD(Co-Founder, CTO, and Board Member)Oguzhan Atay(Founder)inDavid Tsao(Founder/CTO)inSukrit Silas(Cofounder)
DocuSign provides AI-powered agreement management, electronic signature, and contract lifecycle management solutions for enterprises.
Enterprise SoftwareLegalTechSaaSSan Francisco, US
John Hinshaw(Director)Pete Solvik(Director)Mike Dinsdale(Executive Officer)Louis Lavigne(Director)Tom Gonser(Director)Neil Hudspith(Executive Officer)
OneSpan provides authentication, fraud prevention, and transaction security to protect user identities, mobile apps, and access, alongside digital agreement tools such as eSignatures, identity verification, and smart digital forms.
CybersecurityEnterprise SoftwareSaaS
Santa Monica, US
Kyle Armbrester(Director)Luke Kervin(Executive Officer, Director)Travis Schneider(Executive Officer, Director)
Board seatPatrick Mathieson· per SEC Form D · $10M raise · filed Nov 2015
Portland, US
Michael Avery Bloom(Executive Officer, Director, Promoter)
Board seatPatrick Mathieson· per SEC Form D · $650K raise · filed May 2024
Airtable is a San Francisco-based no-code platform that lets teams build apps and workflows on a flexible database.
AI & Machine LearningCloud ComputingEnterprise SoftwareSaaS
Howie Liu(Co-founder and CEO)Andrew Ofstad(Co-founder)Emmett Nicholas(Co-founder)
Allen Control Systems develops autonomous precision weapon systems designed to counter unmanned aerial threats for military and allied forces.
AI & Machine LearningDefense TechRobotics
Mike Wior(CEO)Steve Simoni(President)Luke Allen(CTO)
Sauce Labs operates a cloud-based continuous testing platform for web and mobile applications, offering automated testing across desktop operating systems, browsers, mobile emulators, simulators, and devices for development teams.
AI & Machine LearningCloud ComputingDeveloper ToolsSaaS
EnergyLos Angeles, US
Joel Wishkovsky(Executive Officer, Director)Silviu Livescu(Executive Officer)Paul Straub(Director)Joselyn Lai(Executive Officer, Director)
Brella provides flexible childcare and early education services for infants and young children in Los Angeles.
ConsumerEdTechLos Angeles, US
Clear Skye provides identity and access governance software built natively on the ServiceNow platform.
CybersecurityEnterprise SoftwareSaaS
Thomas Gryziec(Executive Officer, Director)Arun Penmetsa(Director)Vahan Galachyan(Executive Officer, Director)Michael Tweddle(Executive Officer, Director)Rajan Aggarwal(Director)M. Brinkley Morse(Director)
IBM Cloudant is a managed NoSQL database service based on Apache CouchDB, designed for building hyperscale, globally distributed applications with features including encryption, multi-region availability, full-text search, and geospatial indexing.
Cloud ComputingData & InfrastructureEnterprise SoftwareBoston, US
Michael Miller(Founder/Chief Scientist)inAlan Hoffman(Founder/Director of Product)inAdam Kocoloski(Founder/CTO)in
Clover Health is a health insurance provider offering low-cost plans with minimal premiums, copays, and prescription drug costs.
Digital HealthHealthtechInsurTech
Vivek Garipalli(Executive Officer, Director)Nat Turner(Director)Mike Dixon(Director)Kris Gale(Executive Officer, Director)Josh Kopelman(Director)
CockroachDB is a distributed SQL database designed for enterprise applications that require high availability and global scalability.
Cloud ComputingData & InfrastructureEnterprise SoftwareNew York, US
Commure develops software solutions for healthcare providers and administrators to reduce documentation burden, streamline denial management, and improve staff safety infrastructure.
AI & Machine LearningEnterprise SoftwareHealthtechSaaSSan Francisco, US
Diede van Lamoen(Executive Officer, Director)
BoardHemant Taneja(Director)
Constellation is an energy provider that supplies residential and business customers with clean and reliable electricity and energy management services.
CleantechClimate TechEnergy
Foster City, US
Eric Filipek(Director)Wilder Ramsey(Director)G. Alex Terry(Chief Executive Officer)Dan Fishback(Director)Benjamin Brigham(Director)Jared Keller(Director)
Coupa provides an AI-native platform for business spend management, covering procurement, finance, and supply chain operations for enterprises.
AI & Machine LearningEnterprise SoftwareFintechSaaS<UNKNOWN>, US
Jonathan Ebinger(Director)Scott Thompson(Director)Bryan Stolle(Director)Roger Siboni(Director)Jon Stueve(Executive Officer)Rob Bernshteyn(Executive Officer, Director)
DataRobot develops an AI and machine learning platform that automates model development and deployment for enterprises.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareBoston, US
Jeremy Achin(Executive Officer, Director, Promoter)Harry Weller(Director)Thomas de Godoy(Executive Officer, Director, Promoter)Christopher Lynch(Director)
Datto provides cloud-based security and software solutions for Managed Service Providers (MSPs) serving small and medium businesses, including unified continuity, networking, endpoint management, and business management capabilities.
Cloud ComputingCybersecurityEnterprise SoftwareSaaSMiami, US
David Energy builds technology to enable electricity grids powered by 100% clean, renewable energy.
CleantechClimate TechEnergyHardwareNew York, US
James McGinniss(Executive Officer, Director)Ahmed Salman(Executive Officer)Brian Maxwell(Executive Officer, Director)
DermBiont develops SM-030, a topical drug candidate targeting melasma, a skin pigmentation disorder, by inhibiting PKC-beta to address the underlying cause of hyperpigmentation.
BiotechDigital HealthMedical DevicesBoston, US
Karl R. Beutner(Executive Officer, Director)Nichola Eliovits(Executive Officer, Director)Max Dawson(Executive Officer)Jennifer Lee(Director)Robert Brucker(Executive Officer)
BoardWilder Ramsey(Director)
Domu builds AI-powered collections software for financial services companies to recover payments while maintaining compliance and treating customers respectfully.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareFintechSan Francisco, US
Dune Security provides a user adaptive risk management platform that simulates multi-channel social engineering attacks and scores individual employee risk in real-time.
CybersecurityEnterprise SoftwareSaaS
EcoSafi provides clean-burning biomass pellet fuel and free-leased cooking stoves for households and commercial customers, offering a lower-cost, lower-emission alternative to charcoal and LPG.
CleantechClimate TechEnergy
FloQast provides reconciliation management and workflow automation software for accounting teams, designed by accountants to streamline financial processes and improve productivity.
AI & Machine LearningConsumerEnterprise SoftwareFintechFoodTechSaaSUnknown, GB
Mike Whitmire(Founder)Kushal Malde(Head of Financial Control)in
Flow develops a geospatial AI platform that optimizes transportation networks by processing real-time roadway data to improve traffic flow, reduce congestion, and enhance safety for drivers, fleet operators, and transportation agencies.
AI & Machine LearningEnterprise SoftwareMobility & Transportation
Forescout provides cyber-physical systems security and network access control solutions for IoT, OT, and medical device environments.
AI & Machine LearningCybersecurityEnterprise SoftwareIoTMedical DevicesPlano, US
Barry Mainz(Chief Executive Officer)Rob Gillespie(Chief Financial Officer)Rob Amezcua(Chief Revenue Officer)J.P. Asta(Chief Customer Officer)Edward Brown(Chief Legal Officer)Justin Foster(Chief Technology Officer)
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Frequently asked questions
- What stage does Toba Capital invest at?
- Toba Capital invests at the Pre-Seed, Seed, Series A stages.
- What is Toba Capital's typical check size?
- Toba Capital typically writes checks of $1M – $10M.
- What sectors does Toba Capital focus on?
- Toba Capital focuses on Enterprise Software, Sector Agnostic.
- Where is Toba Capital located?
- Toba Capital is headquartered in Irvine, US.
- Does Toba Capital lead rounds?
- Yes, Toba Capital leads investment rounds.
Media · Podcasts & interviews
featuring the teamWE ARE THE FUTURE IN TECH / Susan Su - Toba Capital
2050NOW La Maison · Susan Su
Meet the Investor #2 - Patrick Mathieson, Toba Capital
Start-up Society · Patrick Mathieson
When Pitching Your Startup, Remember to Relax | Toba Capital VC Patrick Mathieson
DraperTV · Patrick Mathieson
Here's What to Avoid During a Pitch to Venture Capitalists | Toba Capital VC Patrick Mathieson
DraperTV · Patrick Mathieson
Always Research Who You are Pitching to BEFORE You Pitch | Toba Capital VC Patrick Mathieson
DraperTV · Patrick Mathieson
Co-investors · 13
Index Ventures is a venture capital firm that backs founders across the globe, investing in the people behind ideas from early through later stages.
Primary Venture Partners is a seed-stage venture fund that backs founders at the earliest moments, combining deep sector specialization with a large operating team that provides hands-on support.
Insight Partners is a venture and growth-stage software investor featuring a large portfolio of technology companies across multiple sectors and regions.
Norwest is a venture and growth equity investment firm that has backed over 700 companies across sectors including AI, retail, and healthcare, working alongside entrepreneurs from early to late-stage growth.
Bonfire Ventures is a seed-stage venture capital firm that backs founders reinventing how business operates, leading seed rounds in AI-native B2B software.
Dynamo backs founders building and upgrading the physical economy, investing from inception through seed across supply chain, advanced transportation, manufacturing, energy, and industrial infrastructure.
Vivo Capital is a global healthcare-focused investment firm operating a multi-strategy platform spanning venture capital, private equity, and public equity. It aims to expand healthcare access and drive innovation through its 'Ecosystem Strategy.'
Alumni Ventures (AV) is a venture firm that gives accredited individual investors access to professionally managed, diversified venture portfolios by co-investing alongside leading lead VC firms. It offers annual funds, syndicate deal-by-deal investing, and various investor clubs.
Operator Partners is an investment firm run by operators that invests its own capital in technology companies from inception through Series B.
Flatiron Health is a healthcare technology and oncology data company that combines AI-powered technology, clinical expertise, and real-world oncology data to support cancer care and research. It operates one of the world's largest oncology datasets and provides point-of-care technology to oncologists.
Brand Foundry Ventures is a consumer product-only seed investor that focuses exclusively on "things you can see, touch, feel, and interact with" rather than software, targeting sustainable $250M-$750M outcome brands instead of chasing billion-dollar unicorns. The firm was born from Andrew Mitchell's successful angel investments in Warby Parker, Birchbox, Harry's, and Peloton, and maintains an unusually hands-on approach through their "People/Product/Pipeline" framework that requires founders to think as deeply about supply chain and margins as they do about design and marketing.
Cambridge Innovation Capital (CIC) is a UK-based venture capital firm backing entrepreneurs in life sciences and deep tech, leveraging its position in the Cambridge science and technology ecosystem.
▶1 more co-investors
Firms observed investing alongside Toba Capital, from public investor directories. Shared companies are the overlap with Toba Capital's recorded portfolio.
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