What stage does Valor Equity Partners invest at?

Valor Equity Partners invests at the Seed, Growth, Late Stage stages.

Where is Valor Equity Partners located?

Valor Equity Partners is headquartered in Chicago, US.

Does Valor Equity Partners lead rounds?

Valor Equity Partners typically participates in rounds rather than leading them.

Valor Equity Partners

Growth equity

Chicago · Seed–Late Stage · 20 people tracked

Also known as VALOR MANAGEMENT LLC

★ Follow + Add to CRM ⤳ Find an introduction

✨ Fox Verdict

Investment thesis

Valor positions itself as an operationally focused private investment firm that pioneered the concept of operational growth. Beginning over two decades ago by tech-enabling industrial companies, the firm applies an operational growth mindset to help portfolio companies improve efficiency, speed up production, and scale dramatically. It invests in technology and technology-enabled businesses across sectors including biosciences, transportation, food, and health and wellness, working closely alongside entrepreneurs to grow the operations of companies tackling significant challenges.

Invests inAdvanced Manufacturing AgTech AI & Machine Learning Biotech Deep Tech FoodTech Healthtech Mobility & Transportation Sector Agnostic Wellness & FitnessChicagoUnited States

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Late Stage

Chicago, IL, US

Leads rounds

Follows

Instruments

Equity

Founded

1995

AUM

$59.3B

Tracked investments

Team · 20 people

from the firm's website & public directories

Antonio Gracias· Founder, Chief Executive Officer & Chief Investment Officerin

Antonio Gracias founded Valor Equity Partners in 1995 and serves as its CEO and Chief Investment Officer, with over 25 years in private equity investing. He was a Director of Tesla from 2007 to 2021, serving as Lead Independent Director for eight years. Before Valor, he founded and led MG Capital, acquiring and running manufacturing and technology companies, and earlier worked at Goldman Sachs; he holds degrees from Georgetown University and a J.D. from the University of Chicago Law School.

Bradley Sheftel· Partner

Bradley Sheftel joined Valor Equity Partners in 2005 and works on investment structuring and execution, due diligence of potential acquisitions, and investment prospecting. He previously worked at J.P. Morgan Securities in its New York-based Syndicated & Leveraged Finance Group, where he provided LBO financing and structured high yield bond and leveraged loan transactions. He holds a B.A. in Political Science from Tulane University's honors program.

Christopher Cavoli· Partner

Chris Cavoli joined Valor in 2025 after a thirty-eight-year career as a US Army officer, retiring as a four-star general. Commissioned in the Infantry, he held commands at every level and finished his service as the Supreme Allied Commander Europe overseeing NATO operations. He was a specialist in Russian affairs and holds degrees from Princeton and Yale.

Christopher Murphy· Partner

Christopher Murphy joined Valor Equity Partners in 2011 and leads the firm's research function. An economist with over 20 years of experience in strategy, business, and market research, he was previously part of the founding team at Pipal Research Corporation, which was sold to a unit of Standard & Poor's in 2010, and spent more than five years at McKinsey & Company. He holds a Master of Management from Northwestern University's Kellogg School and degrees in economics from Marquette University.

Jonathan Shulkin· Partner and Co-President· Chicago

Jonathan Shulkin is a Partner and Co-President of Valor Equity Partners and serves as Fund Manager for Valor Siren Ventures, sitting on all of the firm's investment committees. He has over 20 years of private equity experience and concentrates on food and retail technology investments, having started with Valor's 2006 acquisition of Sizzling Platter. Before Valor, he worked on MG Capital's investment and portfolio team and in operational roles at its portfolio companies, and earlier was an associate consultant at Bain & Company; he holds a B.B.A. in Accounting from the University of Texas at Austin.

Juan Sabater· Partner and Co-President· New York City

Juan Sabater is a Partner and Co-President at Valor Equity Partners, where he leads capital raising and client service functions and contributes to investment sourcing, due diligence, structuring, and execution. He joined Valor as an Advisor in 2008 and full-time in 2010, following roles as a Managing Director in Goldman Sachs' Investment Banking Division and co-founding and scaling Augeo Affinity Marketing, where he now serves as Co-Chairman. He holds an A.B. in History from Princeton University and a J.D. from Stanford Law School, and studied history at the University of Oxford.

Sam Teller· Partnerin 𝕏

Tom Demery· Managing Director· Chicago, Illinoisin

Vivek K. Pattipati· Partner

Vivek K. Pattipati is a Partner at Valor Equity Partners, which he joined in 2017, and sits on the investment committees of several Valor funds. His work covers investment sourcing, due diligence, and deal structuring and execution. Before Valor, he was a Director at Madison Dearborn Partners and an investment banking analyst in the Financial Sponsors Group at Goldman Sachs. He holds an M.B.A. from Harvard Business School and B.A. degrees in Economics and Statistics from the University of Chicago.

Anne Dean· Chief Financial Officer

Anne Dean is the Chief Financial Officer at Valor Equity Partners, which she joined in 2019, where she oversees the firm's finance and accounting functions. Before Valor, she spent over 12 years as an Assurance Director at PricewaterhouseCoopers in Chicago, working with asset management clients such as hedge funds, fund of funds, and SEC-registered mutual funds. She holds a Bachelor's and Master's in Accountancy from the University of Illinois Urbana-Champaign and is a CPA licensed in Illinois.

Anni Ylagan· Operating Partner

Anni Ylagan is an Operating Partner at Valor Equity Partners, where she manages the Revenue Generation and Corporate Strategic Support teams within Valor's Scale Group and sits on the Investment Committees of Valor Siren Ventures Funds I and II. Before Valor, she held roles in Corporate Strategy and Operations at Starbucks Corporation and worked as a management consultant serving retail and US Federal Government clients. She earned an MBA from MIT Sloan and a BBA in Management from The George Washington University.

Cassie Peterson· Chief Compliance Officer

Cassie Peterson joined Valor Equity Partners in 2023 as Chief Compliance Officer. She has more than 15 years of experience in alternative asset management compliance, previously serving as Deputy Chief Compliance Officer at Elementum Advisors and Senior Compliance Officer at Magnetar Financial, and began her career as an investigator at CBOE. She holds a B.S. in Finance and International Business from the University of Colorado Denver and a J.D. from the University of Denver Sturm College of Law.

David Heskett· Operating Partner

David Heskett is an Operating Partner on Valor Equity Partners' Scale Group team. He first joined Valor in 2003 as an Associate in the Operations Group, later serving as CEO of Life Care Partners (a Valor portfolio company) through its sale, and then as CEO of Manduka from 2019 to 2020. Before Valor he worked as a research analyst at Fermi National Accelerator Laboratory, and he holds a B.A. in Physics and Applied Mathematics from the University of Montana along with the CFA charter.

Donald Penn· Associate Counsel

Donald Penn joined Valor Equity Partners as Associate Counsel in 2025. He previously worked as an associate at Sadis & Goldberg LLP in the Financial Services and Corporate groups, focusing on the structuring, formation, capital raising and regulatory compliance of private investment vehicles, and began his career in the Alternative Investments Group at Fried, Frank, Harris, Shriver & Jacobson LLP. He holds a B.A. from Morehouse College and a J.D. from Duke University School of Law.

Jamie Eden· General Counsel

Jamie Eden joined Valor Equity Partners as General Counsel in 2022. She previously served as Managing Director, Deputy General Counsel and Senior Compliance Officer at Solus Alternative Asset Management, and earlier led alternative investments on the legal team at AllianceBernstein, after beginning her career as an associate in the Investment Management Group at Schulte Roth & Zabel. She holds a B.A. from the University of Pennsylvania and a J.D. from Fordham University School of Law.

Jason Appelbaum· Operating Partner𝕏

Jason Appelbaum joined Valor Equity Partners in 2024 as an Operating Partner, where he manages the Valor Studio, provides technical diligence support, and contributes to the Scale Group. He has nearly two decades of experience as an entrepreneur, having founded a mobile application development company and a consumer electronics venture that focused on factory line test automation and predictive failure analysis. Most recently he built EV charging company EverCharge, which he exited through an acquisition; he holds a B.S. in Computer Science from Georgia Southern University.

Manuel Pantelias Garces· Operating Partner

Manuel Pantelias Garces is an Operating Partner at Valor Equity Partners, which he joined in 2018, working on operational growth projects, interim management, and technical diligence for portfolio companies. He previously worked as a Project Manager and Nuclear Engineer at Nagra in Switzerland and represented Switzerland at the OECD and the IAEA. He holds a Ph.D. and M.S. in Nuclear Engineering from ETH Zurich, a B.S. in Physics and Mathematics from the University of St Andrews, and an M.B.A. from London Business School and the University of Chicago Booth School of Business.

Philippe El Khazen· Operating Partner

Philippe El Khazen is an Operating Partner at Valor Equity Partners, where he works on operational growth and interim portfolio management across the firm's investment sectors. He originally joined Valor in 2012 and ran its internal data science and software function from 2022 to 2025. Before Valor, he was part of the aerospace navigation laboratory at the Illinois Institute of Technology, holds M.S. degrees in engineering from that institution and INSA of Strasbourg, and is a CFA charterholder.

Stephen Swanson· Chief Legal Officer

Stephen Swanson is the Chief Legal Officer at Valor Equity Partners, which he joined in 2021. He previously served as an Assistant General Counsel at Invesco and Head of Alternative Investments on the legal team at AllianceBernstein, and earlier held roles as General Counsel and Corporate Secretary of the Abu Dhabi Investment Company and global head of the Alternative Investments legal team at Citigroup's Global Wealth Management division. He has more than 10 years of corporate and securities transaction experience at Clifford Chance, Jones Day, and Morgan Lewis, and holds a J.D. from Duke University School of Law and a B.A. from Cornell University.

Timothy Watkins· Operating Partner

Timothy Watkins is an Operating Partner on Valor's growth fund Scale Group team, where he works with portfolio company management teams on active management, investment prospect generation, and due diligence. He previously served as a Vice President at MG Capital, focusing on operational due diligence and post-closing improvements, and worked as a Principal Consultant at Westworks supporting manufacturing organizations. Earlier in his career he held manufacturing and engineering management roles at Robinson Nugent and Renishaw, and he holds a B.S. in Mechanical Engineering from Bradford University and an M.S. in Industrial Robotics from the Cranfield Institute of Technology.

What they invest in

from 62 of 90 portfolio companies

AI & Machine Learning ×18Enterprise Software ×13Fintech ×11Data & Infrastructure ×9SaaS ×8Biotech ×7Crypto & Web3 ×6Hardware ×6

HQs:United States×60

Investments · 90 tracked

founders shown can be your intro path

Harmony Biosciencesharmonybiosciences.comin 𝕏NASDAQ: HRMY

Harmony Biosciences develops innovative therapeutic treatments focused on rare neurological diseases.

BiotechHealthtechMedical DevicesNorthbrook, US

Jeffrey M. Dayno, M.D.(President and Chief Executive Officer)Patrick Morris(Secretary and Treasurer)Jeffrey Aronin(Director)Aaron Royston(Director)Dr. Andreas Wicki(Director)Jack Nielsen(Director)

Board seatAntonio GraciasJuan Sabater· per SEC Form D

Porchporch.com𝕏NASDAQ: PRCH

Porch provides homeowners insurance through its reciprocal exchange and offers bundled home services including warranty coverage, moving assistance, and handyman services.

InsurTechPropTechSeattle, US

Antonio Gracias(Director)Asha Sharma(Executive Officer)Gregg Eskenazi(Executive Officer)Jeffrey Dossett(Executive Officer)Jason Allen(Executive Officer)Ian Morris(Director)

Board seatAntonio Gracias· per SEC Form D

SPACE EXPLORATION TECHNOLOGIES CORPNASDAQ: SPCXSEC filingmedium confidence

Hawthorne, US

Bret Johnsen(Executive Officer)Elon Musk(Executive Officer, Director)Kimbal Musk(Executive Officer, Director)Donald Harrison(Director)Gwynne Shotwell(Executive Officer, Director)

Board seatAntonio Gracias· per SEC Form D · $250M raise · filed Aug 2022

Tesla Publictesla.comNASDAQ: TSLASEC filingmedium confidence

Mass-market electric vehicle company

Palo Alto, US

James R Murdoch(Director)Brad W Buss(Director)Kimball Musk(Director)Ira Matthew Ehrenpreis(Director)Jerome M Guillen(Executive Officer)Deepak Ahuja(Executive Officer)

Board seatAntonio Gracias· per SEC Form D · $20M raise · filed Nov 2018

BitGobitgo.comin 𝕏NYSE: BTGO

BitGo provides institutional-grade digital asset infrastructure including custody, trading, wallet services, and stablecoin management for financial institutions and enterprises.

Crypto & Web3Enterprise SoftwareFintech<UNKNOWN>

Michael A. Belshe(Executive Officer, Director)Chen Fang(Executive Officer, Director)Krishna Juvvadi(Executive Officer)Ed Reginelli(Executive Officer)J. WILLIAM LEE(Director)ANTONIO GRACIAS(Director)

Redditredditinc.comin 𝕏NYSE: RDDT

Reddit is a social platform where millions of users post, comment, and vote on content organized by topic-specific communities.

Media & EntertainmentSocialSan Francisco, US

Looploop.usin 𝕏✓ verified

Loop builds software to optimize supply chain finance and operations, using AI and data standardization to replace legacy back-office processes.

AI & Machine LearningData & InfrastructureEnterprise SoftwareLogistics & Supply ChainSan Francisco, US

Matt McKinney(Co-Founder and CEO)inShaosu Liu(Co-Founder and CTO)in

New Limitnewlimit.com𝕏✓ verified

NewLimit develops epigenetic reprogramming medicines to extend healthspan and treat age-related diseases at the intersection of computer science and biotechnology.

AI & Machine LearningBiotechLongevity

Brian Armstrong(Co-founder, Board of Directors)Blake Byers(Director)Jacob Kimmel(Director)Michael Polansky(Executive Officer)

BoardZavain Dar(Director)

Addeparaddepar.comin 𝕏

Addepar is a portfolio management platform that enables investment teams and CIOs to aggregate, analyze, and report on diverse asset classes—including liquid equities and private markets—within a single consolidated system.

AI & Machine LearningData & InfrastructureEnterprise SoftwareFintechMountain View, US

Joe Lonsdale(Founder)inEric Poirier(CEO)inLaurence Tosi(Director)Stephen Snyder(Executive Officer)Mitchell Bompey(Executive Officer)

Board seatJuan Sabater· per SEC Form D

Baron App, Inc.SEC filingmedium confidence

Chicago, US

Steven Galanis(Executive Officer, Director)Jonathan Turner(Director)Dave Hsu(Executive Officer)Jonathan Shulkin(Director)Eric Fleisig-Greene(Executive Officer)

Board seatJonathan Shulkin· per SEC Form D · $2.9M raise · filed Jan 2025

Castle Creek Biosciencescastlecreekbio.comin 𝕏

Castle Creek Biosciences develops re-dosable gene therapies for genetic diseases, with a lead candidate (D-Fi) in registrational clinical trials for dystrophic epidermolysis bullosa.

BiotechDeep TechMedical DevicesExton, US

Matthew Gantz(President and Chief Executive Officer)David ChuMichael TownsleyChristopher J. LarsonRhea WilliamsJude Sullivan(Executive Officer)

Board seatAntonio Gracias· per SEC Form D

CIRC Biosciences, Inc.SEC filingmedium confidence

BiotechChicago, US

Sai Chavala(Director)Darien Parhad(Executive Officer)Patrick Morris(Executive Officer, Director)

BoardTimothy Cunniff(Director)Jeffrey Aronin(Director)

Board seatAntonio Gracias· per SEC Form D · $250K raise · filed Oct 2024

Crusoe Inc.SEC filingmedium confidence

Denver, US

Board seatVivek K. Pattipati· per SEC Form D · $1.4B raise · filed Oct 2025

Daily Grabs Inc.SEC filingmedium confidence

Toronto

Shraga Rosenzweig(Director)Yisroel Rosenzweig(Executive Officer, Director)Matt Nichols(Director)Rosenzweig Yisroel(Executive Officer, Director)Rosenzweig Shraga(Director)Vaturi Marc(Director)

Board seatJonathan Shulkin· per SEC Form D · $10M raise · filed Mar 2025

Doms Market Holdco Inc.SEC filingmedium confidence

Chicago, US

Keith L. Kravcik(Director)Greg Wasson(Director)Jonathan Shulkin(Director)Robert A. Mariano(Executive Officer, Director, Promoter)Donald G. Fitzgerald(Executive Officer, Promoter)Jay L. Owen(Executive Officer, Director, Promoter)

Board seatJonathan Shulkin· per SEC Form D · $15M raise · filed Apr 2021

Eight Sleepeightsleep.comin 𝕏

Eight Sleep manufactures a smart bed system called the Pod that provides personalized temperature control, elevation adjustment, and integrated sound for sleep optimization.

ConsumerHardwareIoTWellness & FitnessNew York City, US

Matteo Franceschetti(Founder/CEO)inMassimo Andreasi Bassi(Founder/CTO)inAlexandra Zatarain(Founder/CMO)inNG YiPin(Director)

Board seatAntonio Gracias· per SEC Form D

Evozyne, Inc.SEC filingmedium confidence

BiotechChicago, US

Aris Theologis(Executive Officer, Director)Rama Ranganathan(Executive Officer, Director)Darien Parhad(Executive Officer)Patrick J. Morris(Executive Officer, Director)Jeffrey S. Aronin(Director)Antonio Gracias(Director)

Board seatAntonio Gracias· per SEC Form D · $100M raise · filed Sep 2023

Foodafooda.comin 𝕏

Fooda operates a marketplace that brings restaurant partners and popup dining experiences directly to workplaces, allowing employees to access fresh meals from high-rated restaurants without leaving their office location.

FoodTechMarketplacesChicago, US

Nigel Travis(Director)Jason Stulberg(Executive Officer)Alex Groesbeck(Executive Officer)Vip Sandhir(Director)Jonathan K. Shulkin(Director)Suzanne Muchin(Director)

Board seatJonathan Shulkin· per SEC Form D

K Healthkhealth.ai

HealthtechNew York, US

Ran Shaul(Executive Officer)Adam Singolda(Director)Allon Bloch(Executive Officer, Director)Ashok Balakrishnan(Executive Officer)Chen Yehudai(Executive Officer)Yaron Savoray(Executive Officer)

Board seatAntonio Gracias· per SEC Form D

keenwawaSEC filingmedium confidence

San Francisco, US

Josh Gartland(Executive Officer)Christopher Grewe(Executive Officer)Isaac Pritzker(Director)Jonathan Shulkin(Director)Rachel Gonzalez(Director)David Friedberg(Director)

Board seatAntonio GraciasJonathan Shulkin· per SEC Form D · $41.7M raise · filed Aug 2019

LesserEvillesserevil.comSEC filingmedium confidence

Producer of organic and plant-based snacks including popcorn, chips and grain-free Paleo Puffs.

Advanced ManufacturingDanbury, US

Charles Coristine(Executive Officer)

Board seatJonathan Shulkin· per SEC Form D · $19.1M raise · filed Mar 2023

Linus Technology NewCoSEC filingmedium confidence

New York, US

Peter Rahal(Executive Officer, Director)Zach Ranen(Executive Officer)Jonathan K. Shulkin(Director)

Board seatJonathan Shulkin· per SEC Form D · $75M raise · filed May 2025

Logiwa Technology, Inc.SEC filingmedium confidence

Chicago, US

Erhan Musaoglu(Executive Officer, Director, Promoter)Anna Garcia(Director)Cenk Bayrakdar(Director)

Board seatJonathan Shulkin· per SEC Form D · $26.4M raise · filed Feb 2023

MagicSchoolmagicschool.aiin 𝕏SEC filingmedium confidence

MagicSchool is an AI platform designed for schools that helps teachers with lesson planning, student support, and feedback, while enabling students to develop AI skills.

AI & Machine LearningEdTechDenver, US

Adeel Khan(Executive Officer, Director, Promoter)Todd Tobin(Executive Officer)James Biven(Executive Officer)

BoardChristina Melas-Kyriazi(Director)

Board seatAntonio Gracias· per SEC Form D · $45M raise · filed Jan 2025

Paragon Biosciences Emalex Capital, Inc.SEC filingmedium confidence

BiotechChicaco, US

Jeffrey Aronin(Director)Patrick J. Morris(Executive Officer)Eric Messner(Executive Officer, Director)Darien Parhad(Executive Officer)Timothy Cunniff(Director)

Board seatAntonio Gracias· per SEC Form D · $270M raise · filed Jul 2025

Paragon Biosciences Qlarity CapitalSEC filingmedium confidence

BiotechChicago, US

Darien Parhad(Executive Officer)Jeffrey S. Aronin(Director)Antonio J. Gracias(Director)Patrick J. Morris(Executive Officer, Director)

Board seatAntonio Gracias· per SEC Form D · $15M raise · filed Nov 2019

Roti Restaurants Inc.SEC filingmedium confidence

Chicago, US

Brian Chu(Director)Mats Lederhausen(Director)Eric Becker(Director)Justin Seamonds(Executive Officer, Director)Lawrence Lessans(Director)Lawrence Macks(Director)

Board seatJonathan Shulkin· per SEC Form D · $27.7M raise · filed Apr 2021

Songfinchsongfinch.comSEC filingmedium confidence

Chicago, US

Jonathan Shulkin(Director)Sam Yagan(Director)Robert Lindquist(Executive Officer, Director)Josh Kaplan(Executive Officer, Director)Scott Kitun(Executive Officer, Director)John Williamson(Executive Officer, Director)

Board seatJonathan Shulkin· per SEC Form D · $4.5M raise · filed Jul 2025

Square Roots Urban GrowersSEC filingmedium confidence

Brooklyn, US

Tobias Peggs(Executive Officer, Director)Kimbal Musk(Executive Officer, Director)

Board seatJonathan Shulkin· per SEC Form D · $41M raise · filed Apr 2022

TrustworthySEC filingmedium confidence

San Francisco, US

Nathaniel Robinson(Executive Officer, Director)Daniel S. Bomze(Director)Daniel McCool(Executive Officer, Director)

Board seatJonathan Shulkin· per SEC Form D · $15M raise · filed Apr 2022

Voyage Foodsvoyagefoods.comSEC filingmedium confidence

Voyage Foods develops B2B ingredients that create sustainable, stable alternatives to traditional commodity sources for popular foods and beverages, addressing volatility in global ingredient markets and climate risks.

AgTechClimate TechFoodTechOakland, US

Stephen George(Director)Adam Maxwell(Executive Officer, Director)Alec Lee(Director)James Stewart(Director)Gary Wu(Director)

Board seatJonathan Shulkin· per SEC Form D · $36M raise · filed Feb 2022

Aalo Atomicsaalo.comin 𝕏

Aalo develops advanced nuclear reactor technology aimed at producing electricity at under 3 cents per kilowatt-hour.

Climate TechDeep TechEnergyHardware

Matt(Co-founder)inYasir(Co-founder)in

AgentSyncagentsync.ioin 𝕏

AgentSync provides insurance infrastructure software that manages onboarding, licensing, and appointment processes for carriers, agencies, MGAs, and producers.

Enterprise SoftwareInsurTechSaaSDenver, US

Niji Sabharwal(Founder & Chief Executive Officer)inJennifer Knight(Founder & Chief Technology Officer)in

AMP Roboticsamprobotics.comin 𝕏

AMP builds AI-powered automated sorting systems for waste recycling infrastructure, enabling material recovery and improving separation purity for recycling facilities globally.

AI & Machine LearningCircular EconomyRoboticsColorado, US

Matanya Horowitz(Founder & CEO)inTimothy Stuart(Executive Officer, Director)Justin Ross(Executive Officer)Robert Norris(Executive Officer)Beth Dec(Executive Officer)Robert Kreamer(Executive Officer, Director)

Andurilanduril.com

Anduril Industries is a defense technology company that builds autonomous systems and AI-powered software for the United States and allied militaries.

AI & Machine LearningDeep TechFintechGaming

Autonomous flightskyryse.comin 𝕏

Skyryse develops aircraft control systems and software for helicopters and aircraft, offering simplified pilot interfaces, autonomous capabilities, and emergency management features.

Defense TechHardwareRobotics

Base Powerbasepowercompany.comin 𝕏

Base Power provides residential battery systems and retail electric provider services to customers in Texas.

CleantechEnergyHardwareTexas, US

Zach Dell(Founder & CEO)Justin Lopas(Founder)in

Bedrock Roboticsbedrockrobotics.comin 𝕏

Bedrock Robotics develops autonomous robotic systems for construction sites, applying self-driving vehicle technology to address skilled labor shortages in building, energy, data centers, and factories.

AI & Machine LearningConstruction TechRobotics

Boris Sofman(Founder & CEO)inKevin Peterson(Founder)Ajay Gummalla(Founder)

Benchmarkbenchmarkanalytics.comin 𝕏

Benchmark Analytics builds data-driven talent management and early intervention solutions for law enforcement agencies, sheriff's offices, and related organizations.

Data & InfrastructureEnterprise SoftwareGovTechHR TechLegalTechChicago, US

Bob Tulini(Co-Founder)inRon Huberman(Chief Executive Officer)in

BoardKaren Konow(Former Chief, Bureau of Internal Affairs, Chicago Police Department)Karen Rowan(Former Assistant Deputy Superintendent of Internal Affairs, Chicago Police Department)

Bird Scootersbird.coin

Bird operates a shared electric scooter and e-bike service designed to reduce car trips and emissions in urban environments across multiple continents.

CleantechMobility & TransportationSanta Monica, US

Braintrustbraintrust.devin 𝕏

Braintrust provides AI observability and evaluation platform that monitors production AI systems to surface patterns, define quality standards, and automate improvements.

AI & Machine LearningData & InfrastructureDeveloper Tools

Brightloombrightloom.io

CHAOSchaosinc.comin 𝕏

Chaos Inc. develops portable radar systems and unmanned aerial system (UAS) detection technology for defense applications, offering efficient multi-target tracking and rapid deployment capabilities.

Defense TechHardware

John Tenet(Founder)

Cloud9cloud9.ggin 𝕏

Cloud9 is an esports organization that competes in Call of Duty: Black Ops 7, a first-person shooter game with competitive multiplayer modes.

GamingSports TechLos Angeles, US

Paullie K. Etienne(Executive Officer, Director)Daniel Fiden(Director)Jacques M. Etienne(Executive Officer, Director)

PartnerAntonio Gracias· led

Coalitioncoalitioninc.comin 𝕏

Coalition offers Active Insurance, a cybersecurity-focused insurance product designed to help organizations identify, mitigate, and respond to digital risks before they occur.

AI & Machine LearningCybersecurityInsurTechSan Francisco, US

Joshua Motta(CEO & Co-Founder)Nick Shalek(Director)John Hering(Director)Shardul Shah(Director)

Counterpartyourcounterpart.comin 𝕏

Counterpart is an insurance services company licensed as a producer and surplus lines broker in the United States, offering insurance products across all 50 states and D.C.

AI & Machine LearningInsurTech<UNKNOWN>, US

Counterpart Holdings

Covina, US

Jon Shulkin(Director)John Hering(Director)Tanner Hackett(Executive Officer, Director)Michael Sapner(Director)Pablo Mendoza(Director)

Crusoe Energycrusoe.aiin 𝕏

Crusoe builds energy-first AI infrastructure, using innovative and renewable energy sources to power hyperscale AI factories and a cloud platform for AI workloads.

AI & Machine LearningCloud ComputingEnergy

Cully Cavness(Co-Founder)Chase Lochmiller(Executive Officer, Director)

Dataminr, Inc.dataminr.comin 𝕏

Dataminr provides AI-powered real-time event detection by synthesizing text, images, video, audio, and sensor signals across public data sources.

AI & Machine LearningCybersecurityData & InfrastructureEnterprise SoftwareGovTechImpact & Social GoodNew York, US

Peter Bailey(Executive Officer)Edward Bailey(Executive Officer, Director)Daniel O'Connor(Executive Officer)Nick Beim(Director)Nella Domenici(Executive Officer)Jeffrey Kinsey(Executive Officer)

Dispatch Goodsdispatchgoods.comin 𝕏

Dispatch Goods operates a reverse logistics platform that enables businesses to implement reusable container systems and circularity in their operations.

Circular EconomyClimate TechE-commerceFoodTechLogistics & Supply ChainSan Francisco, US

Lindsey Hoell(Founder & CEO)

Emalexemalex.comin 𝕏

ErisXerisx.comin 𝕏

Cboe Clear U.S. is a CFTC-registered derivatives clearinghouse that provides clearing infrastructure for digital asset derivatives and event contracts.

Crypto & Web3FintechChicago, US

Galoygaloy.ioin 𝕏

Galoy builds Bitcoin-native banking software and infrastructure for regulated financial institutions, enabling banks to offer Bitcoin services to their customers.

Crypto & Web3Fintech

Nicolasin

Gopuffgopuff.comin 𝕏

Hackeronehackerone.comin 𝕏

HackerOne operates a platform for coordinating cybersecurity vulnerability disclosures and bug bounty programs.

CybersecuritySan Francisco, US

Indigovindigov.com

Indigov provides a constituent relations platform that helps government officials and agencies manage and respond to incoming communications from constituents across multiple digital channels.

GovTechWashington, US

Alexander Kouts(Executive Officer, Director)

Lendtablelendtable.comin 𝕏

Lendtable provides cash advances to employees to enable them to contribute to their 401(k) plans and capture employer matching contributions, recouping its costs from a portion of the vested match earnings.

FintechSan Francisco, US

Sheridan Clayborne(Founder)inMitchell Jones(Founder)in

Lightning Labslightning.engineering𝕏

Lightning Terminal is a web-based dashboard and management platform for Bitcoin Lightning Network node operators that simplifies node management and provides liquidity tools.

Crypto & Web3FintechPalo Alto, US

Elizabeth Stark(Founder)Olaoluwa Osuntokun(Executive Officer, Director, Promoter)

Loopjoinloop.com

Loop manufactures smart digital photo frames that allow families to share photos via text message or a mobile app, with images displaying instantly on the frame's touchscreen display.

ConsumerHardware

Mandukaadp.comin 𝕏

ADP provides cloud-based human capital management solutions that integrate payroll, HR, talent management, time and attendance, tax, and benefits administration for businesses globally.

Cloud ComputingEnterprise SoftwareHR TechSaaSRoseland, US

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.

Fund performance · per public LP disclosures · 9

as of Jun 2025

Fund	Vintage	Committed	Net IRR	TVPI	DPI
Valor Equity Partners VI ASF IX BLPs: New York City Fire Department Pension Fund	2023	—	—	1.49x	—
Valor Equity Partners VILPs: California Public Employees' Retirement System, New York City Employees' Retirement System, Teachers' Retirement System of the City of New York +4 more	2022	—	—	1.44x	0.00x
Valor Equity Partners V, L.P.LPs: California State Teachers' Retirement System, New York City Employees' Retirement System, Teachers' Retirement System of the City of New York +3 more	2020	—	18.0%	1.86x	0.06x
Valor Equity VLPs: South Carolina Retirement System Investment Commission	2020	—	18.4%	—	—
N Valor Equity Partners VLPs: New York City Fire Department Pension Fund	2019	—	—	9.90x	—
Valor Equity Partners IV L.P.LPs: California Public Employees' Retirement System, California State Teachers' Retirement System, New York City Police Pension Fund	2017	—	20.6%	3.11x	0.22x
Valor Equity Partners IIILPs: New York City Police Pension Fund	2013	—	12.0%	2.02x	1.38x
VALOR EQUITY IIILPs: New York City Board of Education Retirement System	—	—	—	1.08x	—
VALOR IVLPs: New York City Board of Education Retirement System	—	—	—	2.94x	—

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).

Public market activity · per SEC filings

what is this? ⓘ

6 insider ownership filings (Forms 3/4/5)

at BITGO HOLDINGS, INC. (BTGO)

From the firm's own SEC EDGAR filings — stakes and insider roles in public companies, typically portfolio companies after an IPO. Not a portfolio list published by the firm.

Frequently asked questions

What stage does Valor Equity Partners invest at?: Valor Equity Partners invests at the Seed, Growth, Late Stage stages.
What sectors does Valor Equity Partners focus on?: Valor Equity Partners focuses on Advanced Manufacturing, AgTech, AI & Machine Learning, Biotech, Deep Tech, FoodTech, Healthtech, Mobility & Transportation, Sector Agnostic, Wellness & Fitness.
Where is Valor Equity Partners located?: Valor Equity Partners is headquartered in Chicago, US.
Does Valor Equity Partners lead rounds?: Valor Equity Partners typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

Antonio Gracias of Valor Equity Partners on what it takes to back a contrarian bet #upfrontsummit - YouTube

Upfront Ventures · Antonio Gracias

Episode 41: Antonio Gracias - Founder and CEO of Valor Equity Partners - YouTube

Generating Alpha Podcast · Antonio Gracias

Antonio Gracias, Valor Equity Partners L.P. (2009) - YouTube

Crain's Chicago Business · Antonio Gracias · youtube.com

Images

Co-investors · 43

Sequoia Capital

Sequoia Capital is a venture capital firm that partners with founders to build technology companies, with a strong current focus on artificial intelligence.

$4.4M – $214M

GV (Google Ventures)

GV (Google Ventures) is a venture capital firm that has invested in artificial intelligence and machine learning companies since its early days, building a global portfolio spanning AI infrastructure, life sciences, and applications.

$250K – $50M

Bessemer Venture Partners

Bessemer Venture Partners is a venture capital firm that partners with entrepreneurs from early stages through every stage of growth, publishing investment roadmaps across multiple technology sectors.

$5M – $100M

Techstars

Techstars is a startup accelerator and early-stage investor that funds ambitious founders and provides capital, mentorship, and access to a global network of investors, operators, and corporate partners.

$220K

First Round Capital

First Round Capital is an early-stage venture firm that partners with founders at the earliest stages of company creation, pairing active partners (many former founders) with functional teams for go-to-market, recruiting, and other support.

$2M

BoxGroup

BoxGroup is an early-stage venture capital firm that invests in startups at their earliest stages.

$1M

B Capital Group

B Capital Group is a global investment firm that backs founders from early to late stage, focusing on technology, healthcare, and energy & resilience sectors.

$100K – $60M

Union Square Ventures (USV)

Union Square Ventures is a venture capital firm based in New York City that invests in companies at the edge of large markets being transformed by technological and societal pressures.

$1M – $20M

Sapphire Ventures

Sapphire Ventures is a venture capital firm founded in 2011 that backs technology companies, offering operating support such as executive talent and customer introductions to its portfolio.

$5M – $20M

C2 Investments

Lux Capital

Lux Capital is a venture capital firm that backs companies working to turn science fiction into reality, focusing on emerging science and technology.

$100K – $100M

Bonfire Ventures

Bonfire Ventures is a seed-stage venture capital firm that backs founders reinventing how business operates, leading seed rounds in AI-native B2B software.

$2M – $4M

▶31 more co-investors

Acrew Capital IA Ventures 01 Advisors Operator LP Flatiron Health Fifth Wall 75 & Sunny Social Starts The Chernin Group (TCG Crypto)Operator Collective AIX Ventures Pelion Venture Partners Digital Currency Group MaC Venture Capital Lead Edge Capital Third Point Ventures Galaxy Digital Assets Fund Torch Capital Mango Capital Hoxton Ventures Altimeter Capital LightShed Ventures Atreides Management Congruent Ventures Electric Ant Positive Sum Capital Wellington Management Allerfund Ventures, Llc Bryant Stibel Advancit Capital Boosted Commerce

Firms observed investing alongside Valor Equity Partners, from public investor directories.

Similar investors

Everywhere Ventures

Everywhere Ventures is an early-stage venture firm that backs founders globally, supported by a community of founders and operators as LPs.

$250K

VenturEast

VenturEast is one of India's longest-standing venture capital fund managers, investing since 1997 and managing over $325 million across more than 100 investments in technology, healthcare, and clean environment.

Radix Ventures

Radix Ventures is a venture capital firm founded in 2024 by entrepreneurs and tech investors, focused on empowering deep tech innovators across Europe, particularly Central and Eastern Europe.

$550K – $2.8M

LVX Ventures

LVX Ventures (LetsVenture) operates an AI-native private-market investing platform connecting investors and family offices with early-stage startups, and manages an angel fund.

EUREKA! Venture

EUREKA! Venture SGR is an independent Italian venture capital asset management company focused on deep tech, science-based and digital technology investments. It manages several funds including Eureka! Fund I, BlackSheep Fund and ETA Fund.