# Capricorn Investment: portfolio, investments and team

> Capricorn Investment is a family office based in United States. 47 investments on record, 7 in the last 12 months, latest Aug 2026.

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

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

# Capricorn Investment

Last cheque observed Aug 2026; 47 cheques on record.

Email

Deploying now New fund $157M, Apr 2020 Family office

Seed Series A Series B Fintechs Paytech Regtech

Follow Capricorn Investment and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fcapricorn-investment-group)

Deploying now

**100%** of best year **7** **cheques in 12 months**, 47 on record

Since the last cheque **74** days **00** hrs **00** min **00** sec

Median round **$105M** Rounds led **2 of 47** Sole investor **3 rounds** Exits **4 from the portfolio** Mostly in **United States, 83%**

Pitch Capricorn Investment

## Capricorn Investment highlights

- 01 7 cheques in the last 12 months
- 02 Mostly Series A and Series B: 59% of its rounds
- 03 Sole investor in 3 rounds, median $75M
- 04 4 exits from the portfolio

## What they do

> Serving families, foundations, & institutional investors From their own website

- **Type:** Family office (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Fintechs Paytech Regtech
- **Based in:** Palo Alto, United States
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **47 appearances**

- **2026** 5 rounds
- **Aug** **[Velaura AI](https://millionrounds.com/company/velaura-ai)** Series A · US · TechStartups **$110M** With 8 others
- **Mar** **[Eridu](https://millionrounds.com/company/eridu)** Series A · US · TechCrunch **$200M** With 11 others
- **Mar** **[Rhoda AI](https://millionrounds.com/company/rhoda-ai)** Series A · US · Ventureburn **$450M** With 9 others
- **Feb** **[Heron Power](https://millionrounds.com/company/heron-power)** Series B · US · TechCrunch **$140M** With 9 others
- **Jan** **[Redwood Materials](https://millionrounds.com/company/redwood-materials)** Growth · US · TechCrunch **$425M** With 2 others
- **2025** 5 rounds
- **Dec** **[Fervo Energy](https://millionrounds.com/company/fervo-energy)** Series E · US · TechCrunch **$462M** With 24 others
- **Nov** **[Teradar](https://millionrounds.com/company/teradar)** Series B · US · TechCrunch **$150M** With 5 others
- **May** **[Heron Power](https://millionrounds.com/company/heron-power)** Series A · US · TechCrunch **$38M** *Led*
- **Jan** **[Helion Energy](https://millionrounds.com/company/helion-energy)** Series F · US · Crunchbase News **$425M** With 10 others
- **Jan** **[Harbinger](https://millionrounds.com/company/harbinger)** Series B · US · TechCrunch **$100M** *Led*
- **2018** 3 rounds
- **Nov** **[Black Bear](https://millionrounds.com/company/black-bear)** Growth · NL · FinSMEs **$5.7M** With 6 others
- **Oct** **[Sense](https://millionrounds.com/company/sense)** Series B · US · FinSMEs **$18M** With 4 others
- **Apr** **[Innovium](https://millionrounds.com/company/innovium)** Series D · US · FinSMEs **$77M** With 7 others
- **2017** 3 rounds
- **Dec** **[Aspiration](https://millionrounds.com/company/aspiration)** Series B · US · FinSMEs **$47M** With 11 others
- **Dec** **[Ngdata](https://millionrounds.com/company/ngdata)** Series C · BE · FinSMEs **$19M** With 4 others
- **Mar** **[Innovium](https://millionrounds.com/company/innovium)** Series C · US · FinSMEs **$38M** With 5 others
- **2015** 10 rounds
- **Oct** **[Paga](https://millionrounds.com/company/paga)** Series B · NG **$13M** With 3 others
- **Sept** **[Aspiration](https://millionrounds.com/company/aspiration)** Series A · US **$16M** With 12 others
- **Aug** **[Ezetap](https://millionrounds.com/company/ezetap)** Series C · IN **$24M** With 4 others
- **Jun** **[Applied solar Technologies](https://millionrounds.com/company/applied-solar-technologies)** Venture · IN **$40M** With 3 others
- **May** **[Tegile Systems](https://millionrounds.com/company/tegile-systems)** Series D · US **$70M** With 6 others
- **May** **[Metabiota](https://millionrounds.com/company/metabiota)** Series A · US **$32M** With 11 others
- **Mar** **[Rayvio](https://millionrounds.com/company/rayvio)** Series B · US **$9.3M** With 5 others
- **Jan** **[Porch](https://millionrounds.com/company/porch)** Series B · US **$65M** With 7 others
- **Jan** **[Planet Labs](https://millionrounds.com/company/planet-labs)** Series C · US **$70M** With 13 others
- **Jan** **[yepme.com](https://millionrounds.com/company/yepme-com)** Series A · IN **$13M** With 3 others
- **2014** 2 rounds
- **Apr** **[Aspiration](https://millionrounds.com/company/aspiration)** US **$2.5M** With 7 others
- **Feb** **[HeartFlow](https://millionrounds.com/company/heartflow)** Growth · US **$105M** Sole investor
- **2013** 5 rounds
- **Dec** **[Planet Labs](https://millionrounds.com/company/planet-labs)** Series B · US **$52M** With 12 others
- **Sept** **[Regalii](https://millionrounds.com/company/regalii)** Seed · US · finsmes.com **$25K** With 12 others
- **Aug** **[Embrace Innovations](https://millionrounds.com/company/embrace-innovations)** Series A · US **Undisclosed** With 1 other
- **Jun** **[Planet Labs](https://millionrounds.com/company/planet-labs)** Series A · US · techcrunch.com **$13M** With 6 others
- **Mar** **[QD Vision](https://millionrounds.com/company/qd-vision)** Series E · US · freshnews.com **$20M** With 6 others
- **2012** 5 rounds
- **Nov** **[theAudience](https://millionrounds.com/company/theaudience)** Series A · US · techcrunch.com **$20M** With 4 others
- **Jun** **[Paga](https://millionrounds.com/company/paga)** Series A · NG **Undisclosed** With 3 others
- **Jun** **[Identified](https://millionrounds.com/company/identified)** Series B · US · techcrunch.com **$21M** With 11 others
- **Feb** **[Yammer](https://millionrounds.com/company/yammer)** Series E · US · techcrunch.com **$85M** With 12 others
- **Feb** **[HeartFlow](https://millionrounds.com/company/heartflow)** Growth · US · sec.gov **$75M** Sole investor
- **2011** 4 rounds
- **Oct** **[Liquidity Nanotech Corporation](https://millionrounds.com/company/liquidity-nanotech-corporation)** Series A · US **$8.4M** With 2 others
- **Oct** **[Sunpreme](https://millionrounds.com/company/sunpreme)** Series A · US · finsmes.com **$50M** With 1 other

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 **6 named**

D(**Dipender (nmn) Saluja** Member i Form ADV

EJ **Eric John Techel** Member / Chief Financial Officer / Chief Compliance Officer i Form ADV

IY **Ion Yadigaroglu** Member/Managing Principal i Form ADV

IY **Ion Yardigaroglu** Manager i Filing they signed

ME **Michaela Edwards** Manager i Filing they signed

WB **William Bernard Orum** Manager i Filing they signed

We also hold **8** 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

**$19B** assets it manages Oct 2026

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

- **Legal name:** Capricorn Investment Group LLC
- **SEC number:** CRD 147417

Funds on its Form ADV

**20** private funds, **$4.5B** in gross assets · filed Mar 2024

Venture **10** Private equity **9** Public and private fund of f **1**

- Technology Impact Fund, L.P. *Venture* 47 investors $984M
- Technology Impact Growth Fund II, L.P. *Private equity* 66 investors $663M
- Technology Impact Fund II, L.P. *Venture* 79 investors $540M
- Capricorn-Libra Investment Group, L.P. *Venture* 8 investors $405M
- Sustainable Investors Fund, L.P. *Public and private fund of f* 25 investors $394M
- CIG Direct Strategies III, LLC - Series 1 *Venture* 11 investors $359M
- CIG Direct Strategies II, LLC - Series 1 *Venture* 2 investors $254M
- CIG LOW Carbon Basket, LLC *Venture* 3 investors $219M
- CIG Direct Strategies III, LLC - Series 3 *Venture* 7 investors $159M
- CIG Direct Strategies SX, L.P. *Venture* 6 investors $126M

And 10 more on the filing.

Funds they back

## 2 fund commitments on record

- **Managers:** 1

Every fund on record that it has committed money to, and the managers who invest it. Source: fund news.

Managers it backs most

- [Reach Capital 2 funds](https://millionrounds.com/fund/reach-capital)

Most recent commitments

- [Reach Capital Fund V](https://millionrounds.com/fund/reach-capital)
- [Reach Capital Reach V](https://millionrounds.com/fund/reach-capital)

## Exits from the portfolio

Companies it backed that were later bought or listed **4 in all**

**[theAudience](https://millionrounds.com/company/theaudience)** Bought by Al Ahli Holding Group **Undisclosed** Sept 2015

**[Identified](https://millionrounds.com/company/identified)** Bought by [Workday](https://millionrounds.com/fund/workday) **Undisclosed** Feb 2014

**[Yammer](https://millionrounds.com/company/yammer)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **$1.2B** Jun 2012

**[Tesla Motors](https://millionrounds.com/company/tesla-motors)** Listed **$1.0B** Jul 2010

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

New fund on file

**$157M**

raised in Apr 2020

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 **$105M** the round, not its cheque Alone, median **$75M**

Led 2 of 47 rounds **4%**

- **Sole investor:** 3 rounds
- **Last cheque:** Aug 2026
- **Exits:** 4 from the portfolio

Rounds by stage said on their site

- Series A said *13*
- Series B said *11*
- Growth said *5*
- Series C *5*
- Series D *4*
- Venture *3*
- Seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Founders Fund](https://millionrounds.com/fund/founders-fund) 6
- [DCVC](https://millionrounds.com/fund/data-collective) 5
- [Valor Equity Partners](https://millionrounds.com/fund/valor-equity-partners) 5
- [DFJ](https://millionrounds.com/fund/dfj) 4
- [Innovation Endeavors](https://millionrounds.com/fund/innovation-endeavors) 4
- [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) 3

**Pitching Capricorn Investment?** 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 Capricorn Investment. A count of rooms they were both in, not a relationship either has claimed.

[**Founders Fund** VC firm **6** rounds together](https://millionrounds.com/fund/founders-fund)[**DCVC** VC firm **5** rounds together](https://millionrounds.com/fund/data-collective)[**Valor Equity Partners** VC firm **5** rounds together](https://millionrounds.com/fund/valor-equity-partners)[**DFJ** VC firm **4** rounds together](https://millionrounds.com/fund/dfj)[**Innovation Endeavors** VC firm **4** rounds together](https://millionrounds.com/fund/innovation-endeavors)[**Breakthrough Energy** VC firm **3** rounds together](https://millionrounds.com/fund/breakthrough-energy)[**Energy Impact Partners** VC firm **3** rounds together](https://millionrounds.com/fund/energy-impact-partners)[**First Round Capital** VC firm **3** rounds together](https://millionrounds.com/fund/first-round-capital)[**Google** Accelerator **3** rounds together](https://millionrounds.com/fund/google-assistant-investments)[**Industry Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/industry-ventures)[**O'Reilly AlphaTech Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/o-reilly-alphatech-ventures)[**Omidyar Network** Family office **3** rounds together](https://millionrounds.com/fund/omidyar-network)

## Recently backed

The latest companies Capricorn Investment put money into.

[**Velaura AI** $110M · Aug 2026](https://millionrounds.com/company/velaura-ai)[**Eridu** $200M · Mar 2026](https://millionrounds.com/company/eridu)[**Rhoda AI** $450M · Mar 2026](https://millionrounds.com/company/rhoda-ai)[**Heron Power** $140M · Feb 2026](https://millionrounds.com/company/heron-power)[**Redwood Materials** $425M · Jan 2026](https://millionrounds.com/company/redwood-materials)[**Fervo Energy** $462M · Dec 2025](https://millionrounds.com/company/fervo-energy)

## On podcasts

2 episodes naming Capricorn Investment in the title, and 4 more that mention it.

- [Alt Goes Mainstream](https://millionrounds.com/podcasts/alt-goes-mainstream) 12 Sept 2023 · 54 min How $9B OCIO Capricorn Investment Group has proven that doing well and doing good don't have to be mutually exclusive: A conversation with Partner Bill Orum Mentions [Capricorn Investment](https://millionrounds.com/fund/capricorn-investment-group) Apple PodcastsShow page
- [Inevitable](https://millionrounds.com/podcasts/inevitable) 13 Sept 2021 · 1h 22m Ep. 174: Ion Yadigaroglu, Partner & Managing Director of the Technology Impact Fund at Capricorn Investment Group Mentions [Capricorn Investment](https://millionrounds.com/fund/capricorn-investment-group)[Koch Industries](https://millionrounds.com/fund/koch-investments-group) Apple PodcastsShow page

### Mentioned in

- [Money Maze Podcast](https://millionrounds.com/podcasts/money-maze) 30 Oct 2025 · 52 min Rare Earths, Energy, and the Green Agenda (Money Maze Allocator Summit 2025) Apple PodcastsShow page
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 13 Mar 2023 · 55 min William Orum – Mission-Aligned Allocation at Capricorn (Climate Solutions EP.2, Capital Allocators EP.301) Apple PodcastsShow page
- [Inevitable](https://millionrounds.com/podcasts/inevitable) 24 Feb 2022 · 56 min Startup Series: WeaveGrid Apple PodcastsShow page
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 6 Jul 2020 · 53 min Sustainable Investing 9: Reuben Munger – Private Capital Perspective (Capital Allocators, EP.147) Apple PodcastsShow page

## Quick answers about Capricorn Investment

### What does Capricorn Investment invest in?

Capricorn Investment invests most often at Series A and Series B (59% of the rounds on record), in sectors such as Fintechs, Paytech and Regtech.

### How active is Capricorn Investment?

47 investments on record, 7 of them in the last 12 months, and it led 2. The most recent was in Aug 2026.

### What has Capricorn Investment invested in recently?

Its most recent investments on record: Velaura AI (Series A, Aug 2026), Eridu (Series A, Mar 2026) and Rhoda AI (Series A, Mar 2026).

### How big are Capricorn Investment's cheques?

The median round it joins is $105M.

### Does Capricorn Investment lead rounds?

Sometimes: it led 2 of its 47 investments on record (4%).

### Where does Capricorn Investment invest?

Most of the companies it backs are in the United States (83%), India (8%) and Nigeria (5%).

### Is Capricorn Investment investing now?

Yes: it is actively investing, with 7 investments in the last 12 months.

### Who does Capricorn Investment invest alongside?

Most often Founders Fund (6 rounds together), DCVC (5 rounds together) and Valor Equity Partners (5 rounds together).

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