How many investments has Treasury made?

Treasury has 28 tracked investments, 3 of which have exited, including 2 dated in the last 24 months.

What stage does Treasury invest at?

Treasury invests at the Pre-Seed, Seed, Series A stages.

Where is Treasury located?

Treasury is headquartered in New York, US.

Who does Treasury co-invest with?

Treasury most often shares deals with Torch Capital, Clocktower Ventures, GV (Google Ventures), among 75 tracked co-investors.

Treasury

Venture capital

New York · Pre-Seed–Series A · 12 people tracked

Also known as TREASURY FUND MANAGEMENT LLC

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Find your way into Treasury

364 people in our graph share verified history with the Treasury team — schools, employers, funds. One of them is your warm intro.

Sara Fagenunlockedknows Eli Broverman · together at DDC (overlapped)

knows the team · via Treasury

knows the team · via Good Money

knows the team · via Proskauer Rose LLP

×2knows the team · via Carver Edison

knows the team · via Rotate

✨ Fox Verdict

Investment thesis

Treasury invests in early-stage fintech founders building the next generation of financial infrastructure and tooling. The firm backs builders globally who are modernizing financial services and redefining their categories through new approaches to financial technology.

Invests inFintech Global New York

Source: firm website, verified Sep 29, 2026.

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Stage

Pre-Seed–Series A

New York, US

Instruments

Equity

Founded

2020

Last 12 months

2 investments

Private fund assets

$89.3M

VC funds

Tracked investments

Unicorns

Acquisitions

Team · 12 people

from the firm's website & curated & public directories

Eli Broverman· Co-Founder· New Yorkin

Co-founder of Betterment, which he launched in 2008 and scaled into the largest independent digital wealth advisor.

Jeff Cruttenden· Co-Founder

Co-founder of Acorns, the first mobile-first micro-investing app, and of Say, a proxy-voting platform acquired by Robinhood in 2021.

Cynthia Loh· Venture Partner

Head of Beyond the Card at Capital One who previously built Betterment's 401(k) business and held senior roles at Goldman Sachs, Charles Schwab, and ZocDoc.

Michael Ballard· Operating Partnerin

Product leader, investor, and professor with 15+ years in fintech who advises founders on product, go-to-market, and fundraising; previously led product at Betterment, Goldman Sachs, and Morgan Stanley and teaches at Parsons.

Aiden Guo· Investment Analystin

Finance and technology professional with operations, product, and strategy experience at early-stage startups including Daisy and CREFtech; holds a finance and computer science degree from NYU Stern.

Kir Shtogrin· Research Analyst

Formerly advised SMBs on internationalization at an EU institution and is pursuing a PhD in economics.

James Layfield· Executive Officer

Jeffrey Cartright· Executive Officer

Jonathan Christodoro· Executive Officer

Jonathan Wong· Executive Officer

MC Lader· Associate· New York, New Yorkin 𝕏

Former COO of Uniswap Labs and previously at BlackRock Innovation.

Sasha Silvestrov· Associate· United Statesin

Previously oversaw a global portfolio of startups and funds at a Ukrainian family office and worked with many startups at a consultancy firm.

What they invest in

from 22 of 28 portfolio companies

Fintech ×15SaaS ×13Enterprise Software ×11AI & Machine Learning ×9HR Tech ×5Data & Infrastructure ×3Future of Work ×3Marketplaces ×3

HQs:United States×11France×1United Kingdom×1Israel×1India×1Singapore×1

Who they back

founder profiles across 13 portfolio companies

46%

solo founders

6 of 13 mapped founding teams

57%

repeat founders

of 21 founders with career history

Founding team size:solo founder×62 founders×53 founders×14+ founders×1

Where their founders studiedfrom 20 founders with education data

Tel Aviv University ×2The Open University of Israel ×2University of Puget Sound ×2

What their founders studiedfrom 19 founders with field-of-study data

Computer Science ×8Business & Management ×5Law ×3Design & Architecture ×2Economics ×2Humanities ×2

Where their founders worked beforefrom 21 founders with career history

Google ×3Remitly Israel (formerly Rewire) ×3Team8 ×3Council on Foreign Relations ×2Lloyds Bank ×2Unicorn Growth Ventures ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×2

1 hold an MBA (of 20 with degree data)

Investments · 28 tracked

founders shown can be your intro path

By year:2026 · 2 2022 · 1 2021 · 25 dated

Andelaandela.com in 𝕏

Andela connects global technologists with enterprise opportunities and serves as a platform for hiring, building AI systems, and upskilling teams.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareFuture of WorkHR TechMarketplacesWashington, D.C., US

Jeremy Johnson(Founder)in Iyinoluwa Aboyeji(Founder)inNadayar Enagesi(Founder)Brice Nkengsa(Founder)in Ian Carnevale(Founder)in Christina Sass(Founder)in

Co-investors4DX Ventures Accelerate Africa Air Street Capital Amplo Ventures CRE Venture Capital DBL Partners +26 more

Aprilgetapril.com in

April provides embeddable tax filing and advisory tools that platforms serving small businesses and gig workers can offer as add-ons or bundle into premium tiers.

AI & Machine LearningFintechFuture of WorkSaaSNew York City, US

Daniel Marcous(Founder)inBen(Founder)Raj(President & COO)

Co-investorsAtento Capital Nyca Nyca Partners QED Investors Transpose Platform Management

Ballerineballerine.com in 𝕏

Ballerine provides AI-powered merchant policy fit analysis that evaluates whether merchants' business activities align with acceptable use policies (AUP).

AI & Machine LearningEnterprise SoftwareFintechSaaSTel Aviv-Yafo, IL

Noam Izhaki(Founder)in Nitzan Gelbard(Founder)inAlon Peretz(Founder)in

Co-investorsDallas Venture Capital Moneta VC Y Combinator Marc Bhargava Team8

Betterment Holdings, Inc.betterment.com in 𝕏Sep 2021 · $160M

Betterment provides automated investment management and portfolio advisory services for individual investors, including retirement accounts and taxable accounts.

FintechNew York, US

Jonathan Stein(Executive Officer, Director)inEli Broverman(Executive Officer, Director)inJohn Milehamin

Board Peter Christodoulo(Director)inRyan O'Sullivan(Director)John Jarve(Director)in

Co-investorsAnthemis Venture Bessemer Venture Partners FJ Labs Francisco Partners Future Perfect Ventures Globespan Capital Partners +15 more

Bleeblee.com inSeries A

Blee provides a collaborative platform that brings legal and marketing teams together to streamline content review and approval workflows.

AI & Machine LearningEnterprise SoftwareFintechLegalTechMarketing TechNew York City, US

Guy Shahar(Founder)in

Co-investorsCardumen Capital Hannah Grey Ventures Penny Jar Capital Venture Y Combinator Fin Capital

bolttechbolttech.io inNo public record

Bolttech is a technology-enabled insurance ecosystem that partners with leading insurers and distribution partners to serve millions of customers globally.

FintechInsurTechSaaS

Co-investorsActivant Capital LeapFrog Investments Mundi Ventures Raptor Group Baillie Gifford BlueRun Ventures

Brankasbrankas.com in 𝕏Jan 2022 · $20M

Brankas operates an open finance platform that connects financial institutions with technology companies and consumers in developing markets.

Data & InfrastructureDeveloper ToolsEnterprise SoftwareFintechSaaS

Kenneth Shaw(Founder)in

Co-investorsInsignia Ventures Partners Integra Partners AFG Partners BEENEXT Visa Ventures

Capitalizecapitalize.io

Capitalize provides data and AI-powered search tools for commercial real estate professionals to find lenders, loan comparables, and borrower leads nationwide.

Data & InfrastructureEnterprise SoftwareFintech

Luke Morris(Founder)in Gaurav Sharma(Founder)in

Co-investorsLerer Hippeau RRE Ventures

Charm Securitycharmsecurity.com in

Charm Security builds AI agents for scam, fraud, and cybercrime prevention that combine fraud and security expertise with behavioral psychology, working alongside fraud, financial crime, and customer-facing teams to guide real-time prevention, investigation, and resolution.

AI & Machine LearningCybersecurityFintech

Roy Zur(Founder)inAvichai Ben‏(Founder)in

Co-investorsTeam8

Coppergetcopper.com in 𝕏

Copper is a mobile app that pays users with points redeemable for gift cards and cash (e.g.

Consumer

Stefan Berglund(Co-founder)in Eddie Behringer(CEO / Co-founder)in

Co-investorsAlumni Ventures Clocktower Ventures Financial Venture Studio Launchpad Capital Maven Ventures Operator Stack +5 more

Execiamexec.com 𝕏Jul 2026 · $7.7Macquired by Handy

Exec was an on-demand personal assistant and errand service founded by Justin Kan that later focused on home cleaning.

ConsumerMarketplacesSan Francisco, US

Justin Kan(Founder/CEO)in Amir Ghazvinian(Founder/CTO)in Daniel Kan(Founder)inOisin Hanrahan(Co-Founder and CEO)inUmang Dua(Co-Founder and COO)in

Co-investorsHighland Capital Partners Y Combinator Alsop Louie Partners Caffeinated Capital CRV (Charles River Ventures)Crystal Towers Capital +8 more

Groundswellgroundswell.ioNov 2021

Groundswell is a CSR (corporate social responsibility) platform that provides employees with tax-advantaged personal giving accounts, volunteer program management, and employee assistance funds integrated into a single workplace experience.

Enterprise SoftwareHR TechImpact & Social GoodSaaSRedondo Beach, US

Jake Wood(Founder)inAdam Miller(Executive Officer, Director)

Board Heather Hartnett(Director)in Joe Marchese(Executive Officer, Director)in

Co-investorsCore Venture Capital Felicis Ventures GV (Google Ventures)Moonshots Capital Core Innovation Capital Human Ventures

Intelasintelas.com

Intelas provides a data management platform for real estate portfolios that centralizes and standardizes property-level financial and operational data from multiple sources.

AI & Machine LearningData & InfrastructureEnterprise SoftwarePropTechSaaS

Dimitrios Pilitsis(Founder, CEO)in

Co-investorsBackwards Capital Innovating Capital

Keptkept.io in 𝕏

Kept provides off-boarding and benefits administration solutions for companies transitioning employees, replacing standard COBRA administration processes with supportive experiences.

Enterprise SoftwareFuture of WorkHR TechSaaS

Topher Reynoso in Haak Saxberg inArvind Shrihariin

Co-investorsRecall Capital Wonder Ventures Wedbush Ventures

New Rangenewrange.com in 𝕏

New Range builds NuraOS, an AI-native platform that unifies compliance operations, reporting, and data for capital markets firms such as broker-dealers and clearing firms.

AI & Machine LearningFintechSaaSIrvine, US

Breanna P(Founder)

Co-investorsFika Torch Capital Wedbush Ventures

Renegade Insurancerenegadeinsurance.com in 𝕏

Renegade provides an ownership-based model with community and operational systems to support independent insurance agents in growing, operating, and exiting their agencies.

FintechInsurTechMarketplacesNew York, US

Co-investorsblue 9 capital MetaProp MetaProp Ventures NFX Ex Nihilo Left Lane Capital

Rosalyrosaly.com in 𝕏

Rosaly offers a financial wellbeing platform that lets employees access earned wage advances and automates the handling of salary advances for HR teams.

FintechHR TechSaaS

Arbia SMITI(Founder)in

Co-investorsAUDEO VENTURES Auxxo Clocktower Ventures Fin Capital FJ Labs Haymaker Ventures +2 more

Rotatewithrotate.com in 𝕏Acquired

Check Point provides unified security solutions for AI, infrastructure, data, and users across on-premises, cloud, and remote environments using hybrid mesh network architecture and zero trust principles.

Cybersecurity

Co-investorsG20 Ventures Tal Ventures Torch Capital UpWest at.inc/

Rulezerorulezero.com

Hissa provides portfolio management and secondary market infrastructure for investors managing private equity positions in Indian companies, consolidating holdings tracking and liquidity opportunities in a single platform.

B2B MarketplacesEnterprise SoftwareFintechHR TechSaaSIndia, IN

Satish Mugulavalli(Founder)in

Co-investorsAxilor Ventures YourNest Venture Capital

Tumelotumelo.com in 𝕏

Tumelo builds proxy-voting technology for stewardship teams at financial institutions, including ProxySphere, a pass-through voting infrastructure for pooled funds serving institutional and retail investors, and ProxyBeacon, an AI platform for shareholder-voting research.

AI & Machine LearningFintechSaaS

Georgia Stewart(CEO)in

Co-investorsNucleus Adventure Capital Una Terra

Vantagervantager.com inAcquired

Vantager is an AI-powered platform for limited partners that centralizes and indexes data from GPs and fund managers into a single repository, allowing users to access funds, underlying assets, and KPIs across their portfolio.

AI & Machine LearningEnterprise SoftwareFintechLegalTechSaaSNew York, US

Mason Lender(CEO)in Nicolas Neven(CTO)in

Co-investorsEntrepreneur First BoxOne Ventures Dash Fund

Vertovertofx.com in 𝕏

Verto provides borderless payment and financial management services for startups and enterprises, enabling multi-currency transactions, local account setup, and embedded finance across global markets.

Enterprise SoftwareFintechSaaSLondon, GB

Anthony Oduwole(Founder)in Ola Oyetayo(Founder)in

Co-investorsP1 Ventures Quona Capital Unicorn Growth Ventures Utopian Ventures Ventures Platform Y Combinator +7 more

Other

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

CounterEmbedGetwarmerTailshiftTesoro XPWarmer

Exits · 3

3 acquisitions · showing 1

Execacq. by Handy

Portfolio news

latest coverage across their companies

Investments & Fund Lineup

Betterment Holdings, Inc. · betterment.com · Jul 7, 2026

Bolttech closes Series C at $147M with a $2.1B valuation to bolster its embedded insurance offerings | TechCrunch

bolttech · techcrunch.com · Jun 4, 2025

Frequently asked questions

How many investments has Treasury made?: Treasury has 28 tracked investments, 3 of which have exited, including 2 dated in the last 24 months.
What stage does Treasury invest at?: Treasury invests at the Pre-Seed, Seed, Series A stages.
What sectors does Treasury focus on?: Treasury focuses on Fintech.
Where is Treasury located?: Treasury is headquartered in New York, US.
Who does Treasury co-invest with?: Treasury most often shares deals with Torch Capital, Clocktower Ventures, GV (Google Ventures), among 75 tracked co-investors.

Media · Podcasts & interviews

featuring the team

My Path Forward: Jeff Cruttenden, Co-Founder Say, Acorns and Treasury

TGR Foundation · Jeff Cruttenden

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