# Costanoa Ventures: portfolio, investments and team

> Costanoa Ventures is a vc firm based in United States. 154 investments on record, 17 in the last 12 months, latest Sept 2026.

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

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

# Costanoa Ventures

Last cheque observed Sep 2026; 154 cheques on record.

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Deploying now New fund $115M, Feb 2026 VC firm

Pre-seed Seed Series A Bank Fintechs Fin-tech

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Deploying now

**59%** of best year **17** **cheques in 12 months**, 154 on record

Since the last cheque **40** days **00** hrs **00** min **00** sec

Median round **$12M** Cheque size, as they say **$200K – $10M** Rounds led **13 of 154** Sole investor **7 rounds** Exits **4 from the portfolio** Mostly in **United States, 83%**

Pitch Costanoa Ventures

## Costanoa Ventures highlights

- 01 17 cheques in the last 12 months
- 02 Mostly Series A and Seed: 65% of its rounds
- 03 Sole investor in 7 rounds, median $7.0M
- 04 4 exits from the portfolio

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $200K – $10M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth Pre-IPO
- **Sectors:** Bank Fintechs Fin-tech
- **Based in:** Palo Alto, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **154 appearances**

- **2026** 14 rounds
- **Sept** **[Feldera](https://millionrounds.com/company/feldera)** Seed · US · TechStartups **$22M** With 3 others
- **Sept** **[Sela AI](https://millionrounds.com/company/sela-ai)** Series A · US **$15M** With 2 others
- **Aug** **[Smack Technologies](https://millionrounds.com/company/smack-technologies)** Series B · US · Ventureburn **$61M** With 6 others
- **Aug** **[Onos Health](https://millionrounds.com/company/onos-health)** Series A · US **$17M** With 4 others
- **Jul** **[Self Inspection](https://millionrounds.com/company/self-inspection)** US · TechCrunch **$10M** With 5 others
- **Jul** **[Empirical Security](https://millionrounds.com/company/empirical-security)** Series A · US **$25M** With 1 other
- **May** **[Itera](https://millionrounds.com/company/itera)** Seed · US **$12M** With 2 others
- **Apr** **[Natter](https://millionrounds.com/company/natter)** Series A · US · Ventureburn **$23M** With 5 others
- **Mar** **[Smack Technologies](https://millionrounds.com/company/smack-technologies)** Series A · US · Ventureburn **$32M** With 7 others
- **Mar** **[Shepherd](https://millionrounds.com/company/shepherd)** Series B · US **$42M** With 3 others
- **Mar** **[Manifold](https://millionrounds.com/company/manifold)** Seed · US **$8.0M** With 1 other
- **Feb** **Tenna Systems** Seed · IL · Ventureburn **$14M** *Led*
- **Jan** **[Ivo](https://millionrounds.com/company/ivo)** Series B · US · AlleyWatch **$55M** With 6 others
- **Jan** **[Midship](https://millionrounds.com/company/midship)** Seed · US **$4.2M** With 1 other
- **2025** 29 rounds
- **Dec** **[Mindtrip](https://millionrounds.com/company/mindtrip)** Venture · US **Undisclosed** With 1 other
- **Nov** **[Spectral Compute](https://millionrounds.com/company/spectral-compute)** Seed · GB · Silicon Canals **$6.0M** *Led*
- **Nov** **[Auterion](https://millionrounds.com/company/auterion)** Venture · CH **Undisclosed** With 2 others
- **Oct** **[Welli](https://millionrounds.com/company/welli)** Debt · CO · LatamList **$75M** With 2 others
- **Oct** **[Marble Health](https://millionrounds.com/company/marble-health)** Series A · US · AlleyWatch **$16M** *Led*
- **Oct** **[Muon Space](https://millionrounds.com/company/muon-space)** Grant · US **$45M** With 5 others
- **Oct** **[Basis Theory](https://millionrounds.com/company/basis-theory)** Series B · US **$33M** With 4 others
- **Sept** **[PayNearMe](https://millionrounds.com/company/paynearme)** Series E · US **$50M** With 4 others
- **Sept** **[TrueMeter](https://millionrounds.com/company/truemeter)** Seed · US **$4.0M** With 3 others
- **Sept** **[Earthmover](https://millionrounds.com/company/earthmover)** Seed · US **$7.2M** With 2 others
- **Sept** **[Pathwork](https://millionrounds.com/company/pathwork)** Seed · US **$3.5M** With 1 other
- **Aug** **[Definite](https://millionrounds.com/company/definite)** Seed · US **$10M** With 1 other
- **Jul** **[Empirical Security](https://millionrounds.com/company/empirical-security)** Seed · US **$12M** With 1 other
- **Jul** **[FOSSA](https://millionrounds.com/company/fossa)** Venture · US **$5.1M** With 3 others
- **Jul** **[RunReveal](https://millionrounds.com/company/runreveal)** Seed · US **$7.0M** Sole investor
- **Jun** **[Tensec](https://millionrounds.com/company/tensec)** Seed · US **$12M** With 3 others
- **Jun** **[Same](https://millionrounds.com/company/same)** Venture · US **$14M** With 2 others
- **May** **[StackHawk](https://millionrounds.com/company/stackhawk)** Series B · US **$12M** With 4 others
- **Mar** **[Rerun](https://millionrounds.com/company/rerun)** Seed · SE · TechCrunch **$17M** With 4 others
- **Mar** **[Malga](https://millionrounds.com/company/malga)** Series A · BR · LatamList **$5.5M** *Led*
- **Mar** **[Regrow Ag](https://millionrounds.com/company/regrow-ag)** Venture · US **Undisclosed** With 4 others
- **Mar** **[Cape](https://millionrounds.com/company/cape)** Debt · AU **$15M** With 4 others
- **Feb** **[SGNL](https://millionrounds.com/company/sgnl)** Series A · US · TechCrunch **$30M** With 4 others
- **Feb** **[Self Inspection](https://millionrounds.com/company/self-inspection)** Seed · US · TechCrunch **$3.0M** *Led*
- **Feb** **[Ivo](https://millionrounds.com/company/ivo)** Series A · US · Startup Daily **$26M** *Led*
- **Feb** **[Hidden Level](https://millionrounds.com/company/hidden-level)** Series C · US **$65M** With 2 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 **3 named**

GP **Gregory P. Sands** Managing Director i Filing they signed

MS **Mark Selcow** Member i Form ADV

MD **Michael Douglas Albang** Chief Financial Officer i Form ADV

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

**$2.6B** gross assets of its funds Oct 2026

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

- **Legal name:** Costanoa Venture Capital Management, LLC
- **SEC number:** CRD 164808

## Exits from the portfolio

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

**[3scale](https://millionrounds.com/company/3scale)** Bought by Redhat **Undisclosed** Jun 2016

**[Lex Machina](https://millionrounds.com/company/lex-machina)** Bought by [LexisNexis](https://millionrounds.com/fund/lexisnexis) **Undisclosed** Nov 2015

**[Datalogix](https://millionrounds.com/company/datalogix)** Bought by [Oracle Corporation](https://millionrounds.com/fund/oracle) **$1.2B** Dec 2014

**[LinkSmart, Inc.](https://millionrounds.com/company/linksmart-inc)** Bought by VigLink **Undisclosed** Nov 2014

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

New fund on file

**$115M**

raised in Feb 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 **$12M** the round, not its cheque Alone, median **$7.0M**

Led 13 of 154 rounds **8%**

- **Said size:** $200K – $10M
- **Sole investor:** 7 rounds
- **Last cheque:** Sept 2026
- **Exits:** 4 from the portfolio

Rounds by stage said on their site

- Series A said *47*
- Seed said *44*
- Series B said *25*
- Venture *15*
- Series C *4*
- Debt *4*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Foundry Group](https://millionrounds.com/fund/foundry) 14
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 12
- [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) 7
- [Uncork Capital](https://millionrounds.com/fund/uncork-capital) 7
- [General Catalyst](https://millionrounds.com/fund/general-catalyst) 6
- [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) 6

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

[**Foundry Group** VC firm **14** rounds together](https://millionrounds.com/fund/foundry)[**Y Combinator** Accelerator **12** rounds together](https://millionrounds.com/fund/y-combinator)[**Bessemer Venture Partners** VC firm **7** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**Uncork Capital** VC firm **7** rounds together](https://millionrounds.com/fund/uncork-capital)[**General Catalyst** VC firm **6** rounds together](https://millionrounds.com/fund/general-catalyst)[**Salesforce Ventures** Corporate VC **6** rounds together](https://millionrounds.com/fund/salesforce-ventures)[**Alumni Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Bloomberg Beta** VC firm **5** rounds together](https://millionrounds.com/fund/bloomberg-beta)[**Noa** VC firm **5** rounds together](https://millionrounds.com/fund/noa)[**Norwest Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/norwest)[**True Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/true-ventures-2)[**Altos Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/altos-ventures)

## Recently backed

The latest companies Costanoa Ventures put money into.

[**Feldera** $22M · Sept 2026](https://millionrounds.com/company/feldera)[**Sela AI** $15M · Sept 2026](https://millionrounds.com/company/sela-ai)[**Onos Health** $17M · Aug 2026](https://millionrounds.com/company/onos-health)[**Self Inspection** $10M · Jul 2026](https://millionrounds.com/company/self-inspection)[**Empirical Security** $25M · Jul 2026](https://millionrounds.com/company/empirical-security)[**Itera** $12M · May 2026](https://millionrounds.com/company/itera)

## Books by the people here

One book written by people at Costanoa Ventures: [Martina Lauchengco](https://millionrounds.com/person/martina-lauchengco).

- Loved: How to Market Tech Products Customers Adore [Martina Lauchengco](https://millionrounds.com/person/martina-lauchengco) · 2021 3.81 from 698 ratings on Goodreads About the book In today�s hyper-competitive market, how a product is taken to market is at least as important as the product itself. It is no longer enough for marketers and product teams to just announce their product is superior. Even if what a product does is unique, others claim they do… On AmazonListen on Audible
- Find the books for what you are building, or how you invest. [Open the Reading List](https://millionrounds.com/reading-list)

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about Costanoa Ventures

### What does Costanoa Ventures invest in?

Costanoa Ventures invests most often at Series A and Seed (65% of the rounds on record), in sectors such as Bank, Fintechs and Fin-tech.

### How active is Costanoa Ventures?

154 investments on record, 17 of them in the last 12 months, and it led 13. The most recent was in Sept 2026.

### What has Costanoa Ventures invested in recently?

Its most recent investments on record: Feldera (Seed, Sept 2026), Sela AI (Series A, Sept 2026) and Smack Technologies (Series B, Aug 2026).

### How big are Costanoa Ventures's cheques?

The median round it joins is $12M. It says it writes cheques of $200K to $10M.

### Does Costanoa Ventures lead rounds?

Sometimes: it led 13 of its 154 investments on record (8%).

### Where does Costanoa Ventures invest?

Most of the companies it backs are in the United States (83%).

### Is Costanoa Ventures investing now?

Yes: it is actively investing, with 17 investments in the last 12 months.

### Who does Costanoa Ventures invest alongside?

Most often Foundry Group (14 rounds together), Y Combinator (12 rounds together) and Bessemer Venture Partners (7 rounds together).

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