# Caffeinated Capital: portfolio, investments and team

> Caffeinated Capital is a vc firm based in United States. 143 investments on record, 27 in the last 12 months, latest Sept 2026.

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

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

# Caffeinated Capital

Last cheque observed Sep 2026; 143 cheques on record.

Deploying now New fund $52M, Oct 2026 VC firm

Seed Series A Series B Venture Capital & Private Equity

Deploying now

**93%** of best year **27** **cheques in 12 months**, 143 on record

Since the last cheque **34** days **00** hrs **00** min **00** sec

Median round **$14M** Rounds led **5 of 143** Sole investor **6 rounds** Exits **1 from the portfolio** Mostly in **United States, 92%**

Pitch Caffeinated Capital

## Caffeinated Capital highlights

- 01 27 cheques in the last 12 months
- 02 Mostly Series A and Seed: 61% of its rounds
- 03 Sole investor in 6 rounds, median $13M
- 04 1 exits from the portfolio

## What they do

> Caffeinated is a venture firm based in San Francisco and New York. We lead seed and Series A rounds and invest throughout the life of technology companies. From their own website

- **Type:** VC firm
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Venture Capital & Private Equity
- **Based in:** San Francisco, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **143 appearances**

- **2026** 20 rounds
- **Sept** **[Astrus](https://millionrounds.com/company/astrus)** Series A · CA · BetaKit **$12M** *Led*
- **Sept** **[Luzern Risk](https://millionrounds.com/company/luzern-risk)** Series B · US · Ventureburn **$45M** With 2 others
- **Aug** **[REGENT Craft](https://millionrounds.com/company/regent-craft)** Series B · US · Ventureburn **$240M** With 7 others
- **Aug** **[Antares](https://millionrounds.com/company/antares)** Series C · US · TechCrunch **$470M** *Led*
- **Aug** **[Gravity](https://millionrounds.com/company/gravity)** Series A · US **$31M** With 3 others
- **Jul** **[Twenty Technologies](https://millionrounds.com/company/twenty-technologies)** Series B · US **$30M** With 2 others
- **Jul** **[Integral Privacy Technologies](https://millionrounds.com/company/integral-privacy-technologies)** Series A · US **$18M** With 2 others
- **Jul** **[Onebrief](https://millionrounds.com/company/onebrief)** Grant · US **$114K** With 4 others
- **Jun** **[Baseten](https://millionrounds.com/company/baseten)** Growth · US · Crunchbase News **$1.5B** With 16 others
- **Jun** **[Twenty](https://millionrounds.com/company/twenty)** Series B · US · Ventureburn **$100M** With 3 others
- **Jun** **[Omen AI](https://millionrounds.com/company/omen-ai)** Series A · US **$31M** With 2 others
- **Jun** **[Neion Bio](https://millionrounds.com/company/neion-bio)** Series A · US **$23M** With 3 others
- **May** **[Capchase](https://millionrounds.com/company/capchase)** US · Crunchbase News **$200M** With 6 others
- **May** **[Amca](https://millionrounds.com/company/amca)** Series B · US · Ventureburn **$300M** *Led*
- **May** **[Biosphere](https://millionrounds.com/company/biosphere)** Grant · US **$9.0M** With 2 others
- **May** **[Cedar](https://millionrounds.com/company/cedar)** Venture · US **$22M** With 2 others
- **Mar** **[Sea12 Technologies](https://millionrounds.com/company/sea12-technologies)** Series A · US **$25M** Sole investor
- **Feb** **Matia** Series A · IL · TechStartups **$21M** With 7 others
- **Feb** **[Quipu](https://millionrounds.com/company/quipu)** CO · LatamList **$300K** With 7 others
- **Jan** **[BioAge Labs](https://millionrounds.com/company/bioage-labs)** US **$115M** With 5 others
- **2025** 28 rounds
- **Dec** **[Bobyard](https://millionrounds.com/company/bobyard)** Series A · US · Ventureburn **$35M** With 6 others
- **Dec** **[Boom Supersonic](https://millionrounds.com/company/boom-supersonic)** Series B · US · TechCrunch **$300M** With 8 others
- **Dec** **[Antares](https://millionrounds.com/company/antares)** Series B · US · TechCrunch **$96M** With 6 others
- **Dec** **[AnySignal](https://millionrounds.com/company/anysignal)** Series A · US **$24M** With 3 others
- **Nov** **[Twenty](https://millionrounds.com/company/twenty)** Series A · US · Ventureburn **$38M** *Led*
- **Nov** **[Lava](https://millionrounds.com/company/lava)** Debt · Ventureburn **$200M** With 7 others
- **Nov** **[Federato](https://millionrounds.com/company/federato)** Series D · US **$100M** With 4 others
- **Oct** **[Omen AI](https://millionrounds.com/company/omen-ai)** Seed · US **$11M** With 2 others
- **Oct** **[Seneca](https://millionrounds.com/company/seneca)** Series A · US **$60M** With 4 others
- **Sept** **[InCountry](https://millionrounds.com/company/incountry)** Venture · US **$10M** With 5 others
- **Aug** **[Harmonic Discovery](https://millionrounds.com/company/harmonic-discovery)** Venture · US **Undisclosed** With 3 others
- **Jul** **[Ashby](https://millionrounds.com/company/ashby)** Series D · US · Crunchbase News **$50M** With 6 others
- **Jul** **[Diode Computers](https://millionrounds.com/company/diode-computers)** Series A · US **$11M** With 4 others
- **Jun** **[Obvio](https://millionrounds.com/company/obvio)** Series A · US **$22M** With 5 others
- **Jun** **[Polimorphic](https://millionrounds.com/company/polimorphic)** Series A · US **$19M** With 6 others
- **Jun** **[Eventual](https://millionrounds.com/company/eventual)** Series A · US **$20M** With 4 others
- **May** **[MicroAlchemy](https://millionrounds.com/company/microalchemy)** Seed · US **$2.1M** With 1 other
- **May** **[MicroAlchemy](https://millionrounds.com/company/microalchemy)** Pre-seed · US **$2.2M** With 1 other
- **May** **[Stately Bio](https://millionrounds.com/company/stately-bio)** Seed · US · TechStartups **$12M** With 7 others
- **Apr** **[Luzern Risk](https://millionrounds.com/company/luzern-risk)** Series A · US · AlleyWatch **$12M** *Led*

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 **3 named**

AG **Avichal Garg** Managing Member of the General Partner i Filing they signed

RM **Raymond Michael Tonsing** Managing Member of the Managing Member i Filing they signed

TR **Tonsing Raymond** Managing Member of the General Partner i Filing they signed

We also hold **5** 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

**$3.9B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Caffeinated Capital Management, LLC
- **SEC number:** CRD 165964

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[Smash.gg](https://millionrounds.com/company/smash-gg)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **Undisclosed** Dec 2020

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$52M**

raised in Oct 2026

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

## The cheque

Seed Series A Series B

Median round joined **$14M** the round, not its cheque Alone, median **$13M**

Led 5 of 143 rounds **3%**

- **Sole investor:** 6 rounds
- **Last cheque:** Sept 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Series A said *40*
- Seed said *38*
- Venture *20*
- Series B said *18*
- Pre-seed *6*
- Series C *6*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 26
- [Founders Fund](https://millionrounds.com/fund/founders-fund) 19
- [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) 14
- [Felicis](https://millionrounds.com/fund/felicis-ventures) 13
- [General Catalyst](https://millionrounds.com/fund/general-catalyst) 11
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 10

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## Who they invest alongside

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

[**Y Combinator** Accelerator **26** rounds together](https://millionrounds.com/fund/y-combinator)[**Founders Fund** VC firm **19** rounds together](https://millionrounds.com/fund/founders-fund)[**Khosla Ventures** VC firm **14** rounds together](https://millionrounds.com/fund/khosla-ventures)[**Felicis** VC firm **13** rounds together](https://millionrounds.com/fund/felicis-ventures)[**General Catalyst** VC firm **11** rounds together](https://millionrounds.com/fund/general-catalyst)[**Andreessen Horowitz** VC firm **10** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**BoxGroup** VC firm **9** rounds together](https://millionrounds.com/fund/boxgroup)[**SV Angel** VC firm **9** rounds together](https://millionrounds.com/fund/sv-angel)[**8VC** VC firm **8** rounds together](https://millionrounds.com/fund/8vc)[**DCVC** VC firm **8** rounds together](https://millionrounds.com/fund/data-collective)[**Haystack** VC firm **8** rounds together](https://millionrounds.com/fund/haystack)[**CRV** VC firm **7** rounds together](https://millionrounds.com/fund/crv)

## Recently backed

The latest companies Caffeinated Capital put money into.

[**Astrus** $12M · Sept 2026](https://millionrounds.com/company/astrus)[**Luzern Risk** $45M · Sept 2026](https://millionrounds.com/company/luzern-risk)[**Antares** $470M · Aug 2026](https://millionrounds.com/company/antares)[**Gravity** $31M · Aug 2026](https://millionrounds.com/company/gravity)[**Integral Privacy Technologies** $18M · Jul 2026](https://millionrounds.com/company/integral-privacy-technologies)[**Onebrief** $114K · Jul 2026](https://millionrounds.com/company/onebrief)

## Mentioned on podcasts

Episodes that name Caffeinated Capital in their description, not their title.

- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 15 Apr 2022 · 34 min 20VC: Brex's Henrique Dubugras on Advice from Evan Spiegel and Eric Schmidt on CEOship, The Biggest Hiring Mistakes When Scaling, What Everyone Gets Wrong with Product Messaging and When is the Right Time to Launch Secondary Products With [Evan Spiegel](https://millionrounds.com/person/evan-spiegel)[Henrique Dubugras](https://millionrounds.com/person/henrique-dubugras) Mentions [Caffeinated Capital](https://millionrounds.com/fund/caffeinated-capital)[Elad Gil](https://millionrounds.com/fund/elad-gil) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 27 Apr 2020 · 31 min 20VC: Airtable's Howie Liu on Potential Consolidation In The Collaboration Tools Market, The Transition From Peacetime To Wartime CEO & How To Make The Move To Remote Work Successful; The Process Beyond The Tools With [Howie Liu](https://millionrounds.com/person/mr-howie-liu) Mentions [Caffeinated Capital](https://millionrounds.com/fund/caffeinated-capital)[Coatue](https://millionrounds.com/fund/coatue-management)[Founder Collective](https://millionrounds.com/fund/founder-collective) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 10 Apr 2020 · 32 min 20VC: Why Venture Fund Life Cycles Do Not Align To Companies Today, Actionable Strategies To Separate Good From Great When Assessing and Hiring Multiple Candidates & Why We Need More Adventure in Venture Capital with Blake Scholl, Founder & CEO @ Boom Sup With [Blake Scholl](https://millionrounds.com/person/blake-scholl) Mentions [Caffeinated Capital](https://millionrounds.com/fund/caffeinated-capital)[Paul Graham](https://millionrounds.com/fund/paul-graham)[Sam Altman](https://millionrounds.com/fund/sam-altman) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 6 Oct 2017 · 26 min 20VC: Why CEOs Must Read Less & Listen Less, What VC Funding, Shelf Space & Time Have In Common & Why CEOs Must Look After Themselves Like Athletes with Sami Inkinen, Founder @ Virta Health & Trulia Mentions [Sami Inkinen](https://millionrounds.com/fund/sami-inkinen)[Caffeinated Capital](https://millionrounds.com/fund/caffeinated-capital)[Max Levchin](https://millionrounds.com/fund/max-levchin) *+2* Apple PodcastsShow page

## Quick answers about Caffeinated Capital

### What does Caffeinated Capital invest in?

Caffeinated Capital invests most often at Series A and Seed (61% of the rounds on record), in sectors such as Venture Capital & Private Equity.

### How active is Caffeinated Capital?

143 investments on record, 27 of them in the last 12 months, and it led 5. The most recent was in Sept 2026.

### What has Caffeinated Capital invested in recently?

Its most recent investments on record: Astrus (Series A, Sept 2026), Luzern Risk (Series B, Sept 2026) and REGENT Craft (Series B, Aug 2026).

### How big are Caffeinated Capital's cheques?

The median round it joins is $14M.

### Does Caffeinated Capital lead rounds?

Sometimes: it led 5 of its 143 investments on record (3%).

### Where does Caffeinated Capital invest?

Most of the companies it backs are in the United States (92%).

### Is Caffeinated Capital investing now?

Yes: it is actively investing, with 27 investments in the last 12 months.

### Who does Caffeinated Capital invest alongside?

Most often Y Combinator (26 rounds together), Founders Fund (19 rounds together) and Khosla Ventures (14 rounds together).

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