# Alpaca VC: portfolio, investments and team

> Alpaca VC is a vc firm based in United States. 70 investments on record, 9 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/alpaca-vc (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Alpaca VC

Last cheque observed Sep 2026; 70 cheques on record.

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Deploying now New fund $78M, May 2026 VC firm

Pre-seed Seed Series A Semi-conductor Social Good Physical Sciences

Follow Alpaca VC and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Falpaca-vc)

Deploying now

**64%** of best year **9** **cheques in 12 months**, 70 on record

Since the last cheque **50** days **00** hrs **00** min **00** sec

Median round **$8.2M** Cheque size, as they say **$500K – $1.3M** Rounds led **0 of 70** Sole investor **3 rounds** Mostly in **United States, 82%**

Pitch Alpaca VC

## Alpaca VC highlights

- 01 9 cheques in the last 12 months
- 02 Mostly Seed and Venture: 63% of its rounds
- 03 Sole investor in 3 rounds, median $2.8M

## What they do

> Filed 1 private fund offering with the SEC, the most recent in 2022-09 From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $500K – $1.3M as they say
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** Semi-conductor Social Good Physical Sciences
- **Based in:** New York, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **70 appearances**

- **2026** 8 rounds
- **Sept** **[Ultimarii](https://millionrounds.com/company/ultimarii)** Series A · CA · BetaKit **$9.4M** With 6 others
- **Sept** **[Mainstay](https://millionrounds.com/company/mainstay)** Venture · US **$18M** With 3 others
- **Sept** **[Autopoiesis Sciences](https://millionrounds.com/company/autopoiesis-sciences)** Seed · US **$11M** With 2 others
- **Sept** **[Splitpay](https://millionrounds.com/company/splitpay)** Series B · BR **$125M** With 5 others
- **May** **[Kashable](https://millionrounds.com/company/kashable)** Series C · US · Crunchbase News **$60M** With 5 others
- **Mar** **[Applied Atomics, Inc.](https://millionrounds.com/company/applied-atomics-inc)** Seed · US **$8.3M** With 1 other
- **Mar** **[Gameflip](https://millionrounds.com/company/gameflip)** Crowdfunding · US **$182K** With 4 others
- **Feb** **[Brilliant Harvest](https://millionrounds.com/company/brilliant-harvest)** Seed · CA **$4.0M** With 2 others
- **2025** 13 rounds
- **Dec** **[Kashable](https://millionrounds.com/company/kashable)** Venture · US **$37M** With 2 others
- **Sept** **[Amplio](https://millionrounds.com/company/amplio)** Series A · US **$11M** With 4 others
- **Sept** **[EV Realty](https://millionrounds.com/company/ev-realty)** Growth · US · Firms' own news pages **$75M** With 2 others
- **Sept** **[Acelab](https://millionrounds.com/company/acelab)** Series A · US **$17M** With 3 others
- **Aug** **[Bonus Homes](https://millionrounds.com/company/bonus-homes)** Seed · US **$66M** With 2 others
- **Jul** **[Ultimarii](https://millionrounds.com/company/ultimarii)** Seed · CA **$1.9M** With 1 other
- **Jun** **[North.cloud](https://millionrounds.com/company/north-cloud)** Series A · US **$5.0M** With 4 others
- **May** **[Optiversal](https://millionrounds.com/company/optiversal)** Series A · US **$5.5M** With 3 others
- **May** **[Tapstitch](https://millionrounds.com/company/tapstitch)** Series A · US **$22M** With 2 others
- **Mar** **[Applied Atomics, Inc.](https://millionrounds.com/company/applied-atomics-inc)** Pre-seed · US **$2.0M** With 1 other
- **Feb** **[Morty](https://millionrounds.com/company/morty)** Venture · US **Undisclosed** With 6 others
- **Jan** **[Teal](https://millionrounds.com/company/teal)** Series A · CA **$7.5M** With 6 others
- **Jan** **[Foyer](https://millionrounds.com/company/foyer)** Seed · US **$6.2M** With 3 others
- **2024** 10 rounds
- **Oct** **[Table22](https://millionrounds.com/company/table22)** Series A · US · AlleyWatch **$11M** With 3 others
- **Oct** **[Daze](https://millionrounds.com/company/daze)** Seed · US **$5.7M** With 4 others
- **Sept** **[Chicory](https://millionrounds.com/company/chicory)** Venture · US **Undisclosed** With 1 other
- **Sept** **[Better & Better](https://millionrounds.com/company/better-and-better)** Seed · US **$55K** Sole investor
- **Aug** **[Intramotev](https://millionrounds.com/company/intramotev)** Series A · US · Firms' own news pages **$14M** With 9 others
- **Aug** **[Inveterate, Inc](https://millionrounds.com/company/inveterate-inc)** Venture · US **Undisclosed** With 2 others
- **Jun** **[The Sandbox](https://millionrounds.com/company/the-sandbox)** HK **$20M** With 4 others
- **Apr** **[Crexi](https://millionrounds.com/company/crexi)** Venture · US **Undisclosed** With 5 others
- **Apr** **[Fetch Package](https://millionrounds.com/company/fetch-package)** Venture · US **$23M** With 3 others
- **Mar** **[Innovation Department](https://millionrounds.com/company/innovation-department)** Venture · US **$26M** With 1 other
- **2023** 10 rounds
- **Dec** **[Yay Lunch](https://millionrounds.com/company/yay-lunch)** Venture · US **Undisclosed** With 4 others
- **Dec** **[Prevu](https://millionrounds.com/company/prevu)** Series A · US **$6.0M** With 4 others
- **Nov** **[Monument Bank](https://millionrounds.com/company/monument-bank)** Series B · GB **$49M** With 5 others
- **Nov** **[BinStar](https://millionrounds.com/company/binstar)** Seed · US **$2.8M** Sole investor
- **Oct** **[Lex](https://millionrounds.com/company/lex)** Seed **$5.6M** With 5 others
- **Oct** **[Transfix](https://millionrounds.com/company/transfix)** Series F · US **$40M** With 3 others
- **Aug** **[ClassWallet](https://millionrounds.com/company/classwallet)** Growth · US **$95M** With 4 others
- **Jul** **[Arrive Recommerce](https://millionrounds.com/company/arrive-recommerce)** Series A · US **$16M** With 2 others
- **Jul** **[Bowery Valuation](https://millionrounds.com/company/bowery-valuation)** Series B · US **$16M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **7 named**

AR **Aubrie Rose Pagano** Managing Member i Filing they signed

DF **Daniel Fetner** Managing Member of the Manager i Filing they signed

DR **David R Goldberg** Managing Member of the Manager i Filing they signed

JN **Jeremy Neilson** Managing Director of the Issuer's Manager i Filing they signed

RA **Raymond Andrew Updyke** VP, Operations and Finance of Alpaca VC Investment Management LLC, an affiliate of the Manager i Filing they signed

RT **Richard Thoms** Officer of the Issuer's Manager i Filing they signed

RD **Ryan David Freedman** Managing Member of the Manager i Filing they signed

We also hold **11** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$150M** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Alpaca VC Investment Management LLC
- **SEC number:** CRD 317262

Funds on its Form ADV

**12** private funds, **$184M** in gross assets · filed May 2024

Venture **10** Private equity **2**

- Alpaca VC Fund III L.P. *Venture* 74 investors $75M
- Corigin Ventures Fund II L.P. *Venture* 57 investors $50M
- Alpaca Built World Fund I L.P. *Venture* 26 investors $44M
- Alpaca Kraken I, A Series of Alpaca VC Master Direct Invest LLC *Private equity* 10 investors $4.6M
- Alpaca VC SPV #3 LLC *Venture* 5 investors $3.7M
- Alpaca PAIR SPV LLC *Venture* 5 investors $1.7M
- Alpaca VC SPV #4 LLC *Private equity* 5 investors $1.3M
- Alpaca VC SPV #5 LLC *Venture* 6 investors $1.0M
- Alpaca VC SPV #2 LLC *Venture* 3 investors $509K
- Imperfect SPV, A Series of Alpaca VC Master Direct Invest LLC *Venture* 4 investors $451K

And 2 more on the filing.

## What they claim to have backed

From their own portfolio page (on their website)

**19** of 32 we have independently watched raise

[Amplio](https://millionrounds.com/company/amplio)[Arriveoutdoors](https://millionrounds.com/company/arrive-outdoors)[Classpass](https://millionrounds.com/company/classpass)[Daze](https://millionrounds.com/company/daze)[Earth AI](https://millionrounds.com/company/earth-ai)[Hopscotchlabs](https://millionrounds.com/company/hopscotch-labs)[Imperfectfoods](https://millionrounds.com/company/imperfect-foods)[Intramotev](https://millionrounds.com/company/intramotev)[Lendingclub](https://millionrounds.com/company/lending-club)[Optiversal](https://millionrounds.com/company/optiversal)[Packdigital](https://millionrounds.com/company/pack-digital)[Splitpay](https://millionrounds.com/company/splitpay)[Tapstitch](https://millionrounds.com/company/tapstitch)[Titles](https://millionrounds.com/company/titles)[Trially](https://millionrounds.com/company/trially)[Ultimarii](https://millionrounds.com/company/ultimarii)[Wheelsup](https://millionrounds.com/company/wheels-up)[Won](https://millionrounds.com/company/won)[Zeel](https://millionrounds.com/company/zeel) Acelabusa Applied Atomics Autopoiesis Brilliant Harvest Compass Latch Lex Mayple North Preludelabs Public Grid Tealhq Vaticlabs

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$78M**

raised in May 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$8.2M** the round, not its cheque Alone, median **$2.8M**

Led 0 of 70 rounds **0%**

- **Said size:** $500K – $1.3M
- **Sole investor:** 3 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *22*
- Venture *19*
- Series A said *17*
- Series B said *5*
- Growth *2*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [FJ Labs](https://millionrounds.com/fund/fj-labs) 9
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 7
- [Gaingels](https://millionrounds.com/fund/gaingels) 6
- [Lerer Hippeau](https://millionrounds.com/fund/lerer-hippeau) 4
- [Clocktower Ventures](https://millionrounds.com/fund/clocktower-ventures) 3
- [Everywhere Ventures](https://millionrounds.com/fund/everywhere-ventures) 3

**Pitching Alpaca VC?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Alpaca VC. A count of rooms they were both in, not a relationship either has claimed.

[**FJ Labs** VC firm **9** rounds together](https://millionrounds.com/fund/fj-labs)[**Alumni Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Gaingels** Private equity **6** rounds together](https://millionrounds.com/fund/gaingels)[**Lerer Hippeau** VC firm **4** rounds together](https://millionrounds.com/fund/lerer-hippeau)[**Clocktower Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/clocktower-ventures)[**Everywhere Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/everywhere-ventures)[**Flybridge** VC firm **3** rounds together](https://millionrounds.com/fund/flybridge)[**Forerunner Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/forerunner-ventures)[**NextView Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/nextview-ventures)[**Red Sea Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/red-sea-ventures)[**Revolution** VC firm **3** rounds together](https://millionrounds.com/fund/revolution)[**Anorak Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/anorak-ventures)

## Recently backed

The latest companies Alpaca VC put money into.

[**Mainstay** $18M · Sept 2026](https://millionrounds.com/company/mainstay)[**Autopoiesis Sciences** $11M · Sept 2026](https://millionrounds.com/company/autopoiesis-sciences)[**Kashable** $60M · May 2026](https://millionrounds.com/company/kashable)[**Gameflip** $182K · Mar 2026](https://millionrounds.com/company/gameflip)[**Brilliant Harvest** $4.0M · Feb 2026](https://millionrounds.com/company/brilliant-harvest)[**Amplio** $11M · Sept 2025](https://millionrounds.com/company/amplio)

## Mentioned on podcasts

Episodes that name Alpaca VC in their description, not their title.

- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 8 Mar 2021 · 32 min 272. Staying Competitive in the Seed Fund Boom, Success Metrics at the Fund Level, and the Shifting Equilibrium of Investors and Founders (David Goldberg) Mentions [David Goldberg](https://millionrounds.com/fund/david-goldberg)[Alpaca VC](https://millionrounds.com/fund/alpaca-vc) Apple PodcastsShow page

## Quick answers about Alpaca VC

### What does Alpaca VC invest in?

Alpaca VC invests most often at Seed and Venture (63% of the rounds on record), in sectors such as Semi-conductor, Social Good and Physical Sciences.

### How active is Alpaca VC?

70 investments on record, 9 of them in the last 12 months. The most recent was in Sept 2026.

### What has Alpaca VC invested in recently?

Its most recent investments on record: Ultimarii (Series A, Sept 2026), Mainstay (Venture, Sept 2026) and Autopoiesis Sciences (Seed, Sept 2026).

### How big are Alpaca VC's cheques?

The median round it joins is $8.2M. It says it writes cheques of $500K to $1.3M.

### Does Alpaca VC lead rounds?

Rarely, if at all: none of its 70 investments on record names it as the lead.

### Where does Alpaca VC invest?

Most of the companies it backs are in the United States (82%) and Canada (10%).

### Is Alpaca VC investing now?

Yes: it is actively investing, with 9 investments in the last 12 months.

### Who does Alpaca VC invest alongside?

Most often FJ Labs (9 rounds together), Alumni Ventures (7 rounds together) and Gaingels (6 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=alpaca-vc) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=alpaca-vc)